More mortgage avenues have just opened up for California first time home buyers as the California Housing Finance Agency will now be allowing mortgage brokers to participate in all residential loan programs offered by the agency. The mortgage broker community was previously deemed ineligible to participate.
On September 25, 2015, CalHFA announced that they will be allowing mortgage brokers to participate in all residential loan programs offered by the agency. Provident Bank Mortgage will initially be the exclusive Wholesale Lender for the CalHFA programs. Effective October 15, 2015 CalHFA’s first mortgages, both FHA and conventional, and subordinate loan programs will become available to the California broker community, including the newly implemented My Home Assistance program which takes the place of the recently discontinued CHDAP program. Any broker who is interested in offering a competitive down payment assistance program for low-moderate income borrowers located in the state of California should contact Provident Bank Mortgage to become eligible for the programs. For further information, please contact David Seaton, Vice President of Wholesale and Correspondent Lending at (925) 621-2645. Southern California brokers can contact Christina Hosseini, Provident Bank Mortgage Regional Wholesale Manager at (909) 980-3657 x17150.
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