chfa home finance 2018 in review

disclaimer   This Disclaimer applies to all content provided through CHFA webinars or other training events.  The training content provided is intended to help explain CHFA’s programs, but should not be relied upon as an alternative to the CHFA Seller’s Guide.  CHFA makes reasonable efforts to ensure that information provided in its trainings is up-to-date and accurate.  If there are any discrepancies between information provided in a training event, including in slide presentations, and CHFA’s Seller’s Guide and/or eNews, the later documents should be relied upon.

agenda 2018 highlights CHFA market statistics $500 for 5 campaign Ahead in 2019

2018 highlights CHFA hit our goal, serving 8,322 homeowners ($2.1 billion in first mortgages) Over 13,000 households attended a CHFA-homebuyer education course CHFA invested $94.1 million in down payment assistance (seconds and grants) CHFA’s single family first mortgage servicing portfolio sits at 28,495 loans (balance of $5.5 billion)

THANK YOU!

lenders serving 200+ homeowners Lender Name Loan Count Fairway Independent Mortgage Corporation 1,078 Guild Mortgage Company 825 American Financing Corporation 736 Universal Lending Corporation 451 Broker Solutions Inc./New American Funding 307 Academy Mortgage Corp 293 Citywide Home Loans, LLC 268 Caliber Home Loans, Inc. 254 Cornerstone Home Lending Company 250 Primary Residential Mortgage, Inc. 241 Northpointe Bank 225

2018 stats CHFA First Mortgage Loans = $2.1 billion CHFA MCCs issued = $40,126,698 (161) CHFA DPA grants = $16,126,719 (19.1%) CHFA DPA seconds = $77,978,835 (80.9%) Loan type Government = 66% Conventional = 34% (up 41% over 2017) Most popular program = SmartStep with Silent Second (31.34%) 2.1 billion represents 6% of the CO purchase market in 2018.

2018 stats Average loan amount = $253,807 Average credit score = 685 up $20K over 2017 Average credit score = 685 Average income = $65,287 Average AMI = 91% First-time homebuyers = 90%

2018 stats Income levels Race/Ethnicity ≤ 80% ami = 33% White = 55.9% Latinx = 34.4% 101% - 120% ami = 23% Black = 6.2% ≥ 121% ami = 14% Asian = 2.3% Other = 1.3% When we’ve looked at HMDA data, CHFA loans represent 15.5% of mortgages made to borrowers at 100% AMI or below.

lower income does not mean lower credit score

2018 stats Generation Household type millennials = 60.1% gen X = 23.1% baby boomers = 9.1% mixed generational = 7.7% Household type one adult = 21% single parent = 9% adults with children = 41% adults only = 29%

2018 stats Property type single family = 77.1% townhome = 9.3% condo = 9.2% manufactured home = 4.1% (up 41% over 2017) modular home = 0.3%

top 10 counties in production County Loan Volume Loan Count Adams $398,713,024 1,359 Arapahoe $306,783,368 1,123 El Paso $289,436,498 1,257 Weld $277,745,389 1,005 Denver $215,192,690 772 Jefferson $126,855,492 445 Mesa $103,430,694 565 Pueblo $76,476,627 477 Douglas $61,085,406 184 Larimer $59,517,762 200

rural counties with increased production

chfa customer profiles Generation X Adults with Children Millennial Adults Millennial One-person Median Household Size: 4 Median Income: $71,090 48% in Denver Metro Area 24% of single-family production 1,981 mortgages in 2018 41% Hispanic borrowers 38% purchase attached housing 51% in Denver Metro Area

ahead in 2019 Growing areas Millennials Colorado Springs Grand Junction Pockets of affordability in Denver metro area Millennials 100% of those polled wanted to purchase a home in the next two years We need to bust the 20% down myth Don’t sell to them – just the facts, please!

ahead in 2019 Latinx community Largest growing demographic in Colorado Visit Mi Casa at www.chfainfo.com New resources and tools (available in Spanish) Don’t miss an opportunity to create a homeowner, generate a referral, and have repeat business

ahead in 2019 Lowering DPA levels Grant to 3% of first mortgage loan amount Second to 4% of first mortgage loan amount Lender compensation, premiums and fees Consolidated review Conduct new focus groups

thank you Request a performance review with your dedicated Business Development Specialist www.chfainfo.com customerservicedesk@chfainfo.com 888.320.3688