chfa now allows brokers to participate in its programs! CHFA now permits Participating Lenders (PLs) to originate mortgage loans via third-party originators (TPOs). This new flexibility enables you to reach more borrowers who can benefit from CHFA’s unique products through your broker network.
The specific guidelines governing such originations are noted in Chapter 1, Section 113 of the CHFA Seller’s Guide. In general, PLs wishing to originate CHFA loans through a TPO must:
If your company would like to start originating CHFA loans through a TPO channel, please contact us at CustomerServiceDesk@chfainfo.com so that we can get the process started.
- Notify CHFA and originate such loans via a specifically designated branch established in CHFA’s HomeConnectionsm system;
- Make certain that TPOs are in compliance with all applicable state, federal, and local requirements related to their activity;
- Ensure that all mortgage loans originated through a TPO relationship are in full compliance with CHFA’s Mortgage Purchase Agreement and Seller’s Guide; and
- Maintain responsibility for any failure to comply with CHFA or other requirements related to a mortgage loan sold to CHFA.
Take advantage of this opportunity to grow your business today!