1. Everything you’ve ever wanted to know about OHFA loans and more!
Good morning or afternoon,
Before I begin the presentation, “What Lenders Should Know,” I would like to ask that you hold your questions until I we open the lines for questions. Also through out this presentation I will refer to Lender online and our OHFA’s website to retrieve or view materials you will need when processing our loans.

2. Overview We will discuss the following :
Various loan products available with OHFA
Fees that you can charge
How to reserve a loan with OHFA
Required documentation from your borrower
Loan process
The agenda is to answer the following questions:
What loan options does OHFA offer?
Does OHFA offer assistance?
What are the loan terms?
What are the fees?
What properties qualify?
Are there any loan requirements?
How do I register a borrower?
What happens after registration?

3. What’s so special about OHFA loans?

4. By using OHFA you can help a borrower with limited funds become a homeowner
Down Payment Assistance Second Mortgage Loan
Ohio Heroes
Grants for Grads

5. PROGRAMS OFFERED THROUGH OHFA

6. What types of programs does OHFA offer?
First-Time Homebuyer program for low- to moderate-income Ohioans
Target Area Loan product for buyers purchasing homes in HUD's designated target areas (we will discuss target areas a little later)
Ohio Heroes product for first-time homebuyers who work in critical professions (Firefighter, Police Officer, Teacher, Medical profession)
Grants for Grads for recent college graduates
These products offer qualified buyers access to:
Competitive mortgage rates on 30-year, fixed-rate loans
Down payment and closing cost assistance in the form of a Down Payment Assistance grant or the Grants for Grads product.
.50% origination fee
Generous purchase price and income limits

7. First-Time Homebuyer Program
Consists of Target areas, Ohio Heroes, Down Payment Assistance, and Grants for Grads programs
Applicants for the First-Time Homebuyer Program must meet OHFA income limits, and properties must meet purchase price limits. The limits vary by county.
To qualify for OHFA's First-Time Homebuyer Program, you must meet at least one of the four qualifying categories:
Someone who has never owned real estate.
Someone who has not owned or had an ownership interest in his/her principal residence in the last three years.
Be a qualified military veteran.
Purchase a home in a target area.
All OHFA qualified borrowers must meet each of the following three criteria:
Meet credit score requirements. The credit score for borrowers using OHFA's First Time Homebuyer Programs must equal at least 640 or higher.
Have a signed Purchase and Sales Agreement for a qualifying property.
Qualify for the loan being requested. Lenders will assess the ability to afford a home by considering income, assets, job stability, liabilities, and other criteria.

8. Additional property requirements:
Properties are limited to two acres within a municipal corporation and five acres outside a municipal corporation unless additional acreage is required by local health or safety code.
Qualifying properties include:
Existing homes: single-family dwellings, conforming condominiums, duplexes, and up to four-unit properties
Newly built spec/nearly completed homes: one-unit single-family dwellings

9. Loan Types for first time homebuyer’s:
To meet each homebuyer's needs, OHFA offers several different loan products including:
Fannie Mae conventional loans with special features and flexible terms
Government-insured loans including traditional FHA, VA, and USDA-RD loans
Loan Features/Benefits:
Available to any qualified homebuyer
For new or existing homes
Competitive market, 30-year fixed interest rate
Flexible rate options
Available in all 88 Ohio counties
Generous purchase price and income limits
Loan Fees:
The following fees may apply to your OHFA loan:
.50% origination fee
$575 processing fee
$550 underwriting fee

10. Target Area Loan Product
OHFA's Target Area Loan product helps revitalize federally-designated target areas by making our affordable first-time homebuyer loan products and competitive interest rates available to ANY qualifying buyer purchasing a home in these areas.
What is a Target Area?
A target area is an economically distressed area designated by the U.S. Department of Housing and Urban Development (HUD). Most Ohio counties contain both target and non-target areas.
On the next slide you can see a map of the targeted areas

12. To determine if a property is eligible that is in the partially targeted area:
Next you would click on the blue grid cells in the area you are looking for more details
Counties with partially targeted areas can be seen in detail by clicking on the corresponding county

13. Any area shaded in blue is
In a target area:

14. Target Area Loan product applicants do not have to be first-time buyers, however, the following program requirements apply.
To qualify for an OHFA Target Area Loan product, you must:
Meet OHFA's income and purchase price limits. The limits vary by county. Please note that income and purchase price limits may be higher for target area loans.
Be creditworthy. Minimum credit scores may apply.
Have a signed Purchase and Sales Agreement.
Qualify for the loan being requested. Lenders will assess your ability to afford a home by considering income, assets, job stability, liabilities, and other criteria.
Additional property requirements:
Loans are available for properties up to two acres (unless additional acreage is required by local health or safety code).
Qualifying properties include:
Existing homes: one-unit single-family dwelling and duplexes up to four units
Spec/Nearly completed homes: one-unit single-family dwellings

15. Loan Types (target areas)
To meet each homebuyer’s needs, OHFA offers a variety of loan products including:
Fannie Mae conventional loans with special features and flexible terms
Government-insured loans including traditional FHA, VA, and USDA-RD loans
Loan Features/Benefits
Available to any qualified homebuyer
For new or existing homes
Competitive market, 30-year fixed interest rate
Flexible rate options
Available in all 88 Ohio counties
Generous purchase price and income limits
Loan Fees
The following fees may apply to your loan:
.50% origination fee
$575 processing fee
$550 underwriting
.25% adverse market fee (conventional loans only)

16. Ohio Heroes Program
Ohio heroes make a difference in our lives by working hard in critical jobs every day. Through OHFA's Ohio Heroes product Ohio's heroes can receive all the benefits of our First-Time Homebuyer program at a .25% lower interest rate.

17. The Ohio Heroes product is available to the following full-time employees who are:
Active Military, Active Reserve, or a Veteran
Qualified Active Duty Service personnel include Armed Services or Reserve Forces.
Qualified veterans include military members honorably discharged from any branch of the U.S. Armed Forces.
Firefighters, Emergency Medical Technicians or Paramedics
Sworn paid members of a fire department whose regular duties include fire suppression or prevention, emergency medical response, hazardous materials response.
Health Care Workers
Certified, accredited, or licensed health care workers who are employed full-time as a medical resident or fellow, dental hygienist, nurse, nursing assistant, pharmacist, pharmacy technician, physician’s assistant, medical technician, technologist, or therapist.
Police Officers
Individuals commissioned as a police officer by a federal, state, county, or municipal or township government, or a public or private college or university; must be sworn to uphold, and make arrests for violations of federal, state, county, municipal, or township law or respond to terrorism.
Teachers
Individuals employed full-time by an accredited or state recognized public school, private school, or federal, state, county, or municipal educational agency as a state-certified classroom teacher or administrator in grades K-12 or higher education. Full-time instructors must teach a minimum of 12 credit hours per academic term. License and paystub from education facility required to validate credentials.

18. Applicants for the Ohio Heroes product must:
Meet OHFA's income and purchase price limits. The limits vary by county.
Be a first-time homebuyer—someone who has not owned or had an ownership interest in his/her principal residence in the last three years.
Be creditworthy. Minimum credit scores may apply.
Have a signed Purchase and Sales Agreement for a qualifying property.
Qualify for the loan being requested. Lenders will assess your ability to afford a home by considering income, assets, job stability, liabilities, and other criteria.
Loan Types:
To meet each homebuyer's needs, OHFA offers several different loan products including:
Fannie Mae conventional loans with special features and flexible terms
Government-insured loans including traditional FHA, VA, and USDA-RD loans
Loan Features
Available to any qualified homebuyer
For new or existing homes
Competitive market, 30-year fixed interest rate
Flexible rate options
Available in all 88 Ohio counties
Generous purchase price and income limits
Loan Fees
The following fees may apply to your loan:
.50% origination fee
$575 processing fee
$550 underwriting fee
.25% adverse market fee (conventional loans only

19. Down Payment Assistance
If paying for a down payment and closing costs have kept your borrower from getting into a home, OHFA's Down Payment Assistance may be able to help.
Second Loan with a 5 year term, no accrued interest, due upon sale or refinance.
• Sized at exactly 2.5% of the home purchase price rounded down to the nearest dollar. Funds are automatically reserved once the Mortgage Loan is reserved and confirmed on the OHFA reservation system.
• May be applied against the Borrower’s down payment, closing costs, prepaids and other related program and mortgage loan fees and expenses.
• The obligation to repay the Second Loan is secured by a Note and Subordinate Mortgage recorded in OHFA’s name as beneficiary.
Keep in mind that while the assistance will greatly reduce your expenses, the borrower may still be required to pay for some costs out of pocket.

20. The Second Loan is subject to recapture if the property is sold or refinanced within the first 5 years from when the Mortgage Loan closed. For each year the Borrower remains in the property, 20% of the obligation to repay shall be forgiven, until the 5th year, at which time the obligation to repay is forgiven free and clear.
• In the event there are surplus funds remaining, the Borrower may be reimbursed for any earnest money, advances or overpayment of fees per OHFA Guidelines.
• May not be combined with Grants for Grads.

21. Grants for grads product
Recent college graduates can now receive down payment and closing cost assistance and a favorable mortgage interest rate from an OHFA participating lender with the Grants for Grads product. Eligible borrowers can use the product to reduce the out-of-pocket expenses associated with buying a home.
If you have an income-eligible first-time homebuyer that has graduated from high school or has a GED and has earned an associate's, bachelor's, master's, doctorate or other postgraduate degree within the last 24 months and have not had ownership interest in a principal residence in the past 3 years, your borrower can take advantage of the Grants for Grads product.

22. Amount of grant owed to OHFA if you move out of state
OHFA will issue a grant in an amount of 2.5% of the home's purchase price.
You can use the grant to pay for the down payment, closing costs, or other prepaid expenses incurred prior to closing. Keep in mind that while the grant will help cover some of your up-front costs, your borrower may still be required to contribute some money as well.
The grant will be issued as a second mortgage with a 0% interest rate with no payment due. The loan is forgivable after five years. However, if you move out of Ohio prior to the five-year mark, you are responsible for paying a portion of the grant back to OHFA as indicated below.
Months resided in home
Amount of grant owed to OHFA if you move out of state
Less than 12 months
100%
12 months to 24 months
80%
24 months to 36 months
60%
36 months to 48 months
40%
48 months to 60 months
20%

23. Fannie Mae HFA Preferred
Ohio Housing Finance Agency (OHFA) qualifies as a HUD approved Provider of Secondary Financing.
OHFA’s down payment assistance programs meet the Fannie Mae standards for Community Seconds.

24. Eligible Properties
• 1-4 unit single family properties (Grants for Grads Program limited to 1-unit only)
• Condominiums, Planned Unit Developments (PUDs)
• New Construction (90% completed)
• 2 acres or less – within municipal corporations
• 5 acres or less – outside municipal corporations
• Properties must be owner-occupied and may not be used for investment purposes.
Questions on property eligibility should be addressed to US Bank.

25. Borrower Investment Credit Score Minimum
No minimum Borrower investment is required by OHFA, other than those required per FHA, VA, USDA-RD, Fannie Mae HFA Preferred and Mortgage Insurer guidelines
Credit Score Minimum
640 minimum credit score for all borrowers and co-borrowers applying for Program with or without OHFA Down Payment Assistance. Additional restrictions for certain products. Questions regarding credit score calculations should be addressed to US Bank.

26. Maximum LTV/CLTV
Maximum Fannie Mae HFA Preferred - 97%/100% for 1-unit properties
Maximum Fannie Mae HFA Preferred - 95%/100% for 2-4 unit properties

27. Fannie Mae HFA Preferred Loans DU findings
DU Approve Eligible or manual underwriting.
HFA Preferred is available through DU using the “Additional Data” screen; select “HFA Preferred.” Lender may ignore any DU message indicating the loan is ineligible because the LTV/CLTV exceeds DU limits, as long as the loan conforms to the LTVs specified herein. Manual underwriting is subject to the related section within Fannie Mae’s Eligibility Matrix.

28. Required Mortgage Insurance Coverage
For Fannie Mae HFA Preferred Loans:
18% charter coverage for % LTV Loans
16% charter coverage for % LTV Loans
12% charter coverage for % LTV Loans
6% charter coverage for % LTV Loans

29. Private Mortgage Insurance (PMI)
Insurers must be approved by Fannie Mae.
Lender or borrower paid PMI is acceptable following Fannie Mae Guidelines.
Lender is responsible for activating any PMI policy and remitting any PMI payments due to the Mortgage Insurer prior to the sale of the loan to US Bank. Lender is also responsible for transferring the PMI policy to US Bank after the loan sale.
PMI rates, pricing, and guidelines may differ among the participating Mortgage Insurers and are subject to change. Lenders should consult the current Housing Finance Agency PMI guidelines at each company to determine the terms and conditions by which such loans will be insured.

30. What are the benefits of utilizing OHFa?

31. So why use OHFA?
Even if your borrower does not need assistance the it is possible OHFA can provide a better interest rate, see below for current rates:

32. Home Buyer Education Timeline OHFA requires homebuyer education for anyone obtaining a conventional loan through one of our homeownership loan products or for anyone choosing to take advantage of our Down Payment Assistance or Grants for Grads product.
From date of Reservation, the Borrower will have 5 days to complete the streamlined Test and Budget online. You may provide your Borrower the HBE FAQ sheet when the loan is registered.
Borrower cannot log into the portal until you have registered the loan
The housing counselors are on a shortened timeline, so please instruct your Borrower to complete the Test and Budget as soon as possible.
Housing counselors cannot see the loan or contact the borrower until you have reserved the loan.
Housing counselors now upload their own Certificates of Completion. In the future, the housing counselors will have the ability to leave notes within the Lender Online system that will be available to you.
Housing counselors do not see loan documents; only HBE Certificates and Borrower names/contact info within their own assigned pipelines. Their access is very limited.
All HBE should be completed by Day 15 after the initial Reservation by the Lender.

33. Borrower Documentation
Income Calculations - Household income calculations apply.
Federal Income Tax Returns - Signed and dated copies of Federal Tax Returns for 3 years are required except for borrowers purchasing a home in a targeted area or for qualified veterans.
Recent pay stubs
The agenda is to answer the following questions:
What loan options does OHFA offer?
Does OHFA offer assistance?
What are the loan terms?
What are the fees?
What properties qualify?
Are there any loan requirements?
How do I register a borrower?
What happens after registration?

34. Lender Compensation TOTAL LENDER COMPENSATION 3.0% plus our $1125.00
Discount Points: No discount fees may be charged.
Lender Fees: Reasonable and customary charges for out of pocket expenses and costs only.
PLEASE NO JUNK FEES !
US Bank/OHFA Fees: Please refer to Term Sheet for details.
Lender Compensation: 2.5%
Origination Fee: % charged to borrower
TOTAL LENDER COMPENSATION 3.0% plus our $
2.5% (Lender) + .50% (Origination Fee) = 3.0% !!!
The agenda is to answer the following questions:
What loan options does OHFA offer?
Does OHFA offer assistance?
What are the loan terms?
What are the fees?
What properties qualify?
Are there any loan requirements?
How do I register a borrower?
What happens after registration?

35. Other Pricing Adjustments
Lenders will receive the greater of 2.5% compensation or $1500 for lower loan amounts, however the minimum compensation will now apply to loans of $60,000 or less.
The agenda is to answer the following questions:
What loan options does OHFA offer?
Does OHFA offer assistance?
What are the loan terms?
What are the fees?
What properties qualify?
Are there any loan requirements?
How do I register a borrower?
What happens after registration?

36. How do I get a loan started with ohfa?

37. The loan purchase timeline must be followed
Loan Process
The loan purchase timeline must be followed
The agenda is to answer the following questions:
What loan options does OHFA offer?
Does OHFA offer assistance?
What are the loan terms?
What are the fees?
What properties qualify?
Are there any loan requirements?
How do I register a borrower?
What happens after registration?

38. Reserving Funds *We will go over how to reserve funds a little later
Lenders may reserve program funds:
Between 9:30 AM and 8:00 PM Eastern time
Monday through Friday, excluding holidays
No changes to rate or product will be permitted after Reservation.
 *We will go over how to reserve funds a little later
The agenda is to answer the following questions:
What loan options does OHFA offer?
Does OHFA offer assistance?
What are the loan terms?
What are the fees?
What properties qualify?
Are there any loan requirements?
How do I register a borrower?
What happens after registration?

39. How are Lenders Notified of New Rates?
Rate sheet will be posted on Lender On Line (LOL).
Please request access to LOL from your Team Leader.
Lenders will be advised of a rate change when they sign into the Lender Online system.
Assisted rates will be set higher than the unassisted rates.
The amount of spread may change based on market conditions.
The agenda is to answer the following questions:
What loan options does OHFA offer?
Does OHFA offer assistance?
What are the loan terms?
What are the fees?
What properties qualify?
Are there any loan requirements?
How do I register a borrower?
What happens after registration?

40. OHFA Rate Sheet

41. OHFA Rate Sheet – Up Close

42. What Happens After Registration?
Process Flow
Process loan & Underwrite Loan
Processor submits Commitment Package to OHFA
Wait for OHFA Approval & OHFA Commitment Letter
Close & Advance Funds
Submit Purchase Package to OHFA & Mortgage File to US Bank
US Bank Funds Loan
What happens now
Your company should process the loan to ensure borrower(s) meet the requirements and underwriting guidelines for that product.
Next submit our commitment package paperwork for review and approval so borrower can close. FYI…it depends on the volume of loans we receive each day that determines when we will review your loan. Also keep in mind that there may be errors or corrections needed before we can issue an approval. Most of us will notify the person noted on our Loan Voucher about corrections so they can get what we need in a timely manner. But if you don’t hear anything, check Lender On-Line’s Loan Status to check the status of the loan.
All commitment approval letters will be available in Lender Portal – this commitment approval is good for 30 days.
Close loan and submit OHFA its final purchase pkg. 20 days after closing and send US Bank the mortgage file so they can fund your loan once we have approved the final OHFA purchase package.

43. OHFA Timeframes
To assure that loans are purchased, please follow the Processing, Delivery and Purchase Timetable
Please DO NOT reserve loans that cannot meet the timetable.
This is particularly important with respect to:
New Construction
Foreclosures
Short Sales
Please wait to reserve funds. Loans not delivered within the timeframe cannot be purchased.

44. OHFA Timeframes 25 Days From Loan Reservation to
Underwriter Certification and Commitment Package 1.
45 Days From Loan Reservation to
Pre-Purchase Compliance Package to OHFA
60 Days From Loan Reservation Date to
Loan Delivery to US Bank
70 Days From Loan Reservation to the final Loan Purchase by US Bank 2. 3
If approved, OHFA will issue a Commitment Letter within 3-5 business days. Failure to abide by these deadlines will result in the cancellation of the loan reservation.
Loans may not be re-reserved for a borrower(s) for a period of 60 days from the date of the expiration of the previous reservation, including any extension.
Lender may request a 30- day extension for a 0.375% extension fee, otherwise the loan reservation will be cancelled. Only one reservation extension is available.

45. Loan Reservation & Underwriting Timelines
Lenders reserve loans in the OHFA system when they are reasonably certain that the loan will qualify.
Following full credit approval AND WITHIN 25 CALENDAR DAYS OF LOAN RESERVATION, your underwriter will complete the on-line Underwriter Certification.
The agenda is to answer the following questions:
What loan options does OHFA offer?
Does OHFA offer assistance?
What are the loan terms?
What are the fees?
What properties qualify?
Are there any loan requirements?
How do I register a borrower?
What happens after registration?

46. Loan Process & Purchase Timelines
Within 25 days of loan reservation, the Pre-Close Compliance (Commitment) Package must be submitted to OHFA (Processing does this once all supporting docs and signed RESPA are received)
If approved, OHFA will issue a Commitment Letter within 3-5 business days.
Failure to meet the 25-day deadline will result in cancellation of the loan reservation.
In order to meet this deadline it is important that you submit all supporting docs and signed RESPA to processing as soon as possible, the clock starts ticking from the reservation date
The agenda is to answer the following questions:
What loan options does OHFA offer?
Does OHFA offer assistance?
What are the loan terms?
What are the fees?
What properties qualify?
Are there any loan requirements?
How do I register a borrower?
What happens after registration?

47. Loan Process & Purchase Timelines
Within 45 days of loan reservation, the Pre-Purchase (post-closing, closing department) Compliance Package should be submitted to OHFA.
If the package is clean, OHFA will give US Bank approval to purchase the loan within 3-5 business days.
The 45 day timing is suggested to allow sufficient time for the loan to be purchased at day 70.
The agenda is to answer the following questions:
What loan options does OHFA offer?
Does OHFA offer assistance?
What are the loan terms?
What are the fees?
What properties qualify?
Are there any loan requirements?
How do I register a borrower?
What happens after registration?

48. Loan Process & Purchase Timelines
Within 60 days of loan reservation, the loan should be delivered to US Bank for purchase (post closing)
Failure to deliver the loan file to US Bank within 60 days may result in US Bank’s inability to purchase your loan within the allotted timeframe.
Within 70 days of loan reservation, the loan must be purchased by US Bank.
The agenda is to answer the following questions:
What loan options does OHFA offer?
Does OHFA offer assistance?
What are the loan terms?
What are the fees?
What properties qualify?
Are there any loan requirements?
How do I register a borrower?
What happens after registration?

49. Need More Time? How to Request an Extension
Loans not purchased with 70 days are ineligible for purchase unless Lender chooses a one-time, 30-day extension.
The cost of a 30-day extension is .375 of the original loan amount.
A borrower is eligible for only one extension.
The extension fee will be netted by U.S. Bank when the loan is purchased.
The agenda is to answer the following questions:
What loan options does OHFA offer?
Does OHFA offer assistance?
What are the loan terms?
What are the fees?
What properties qualify?
Are there any loan requirements?
How do I register a borrower?
What happens after registration?

50. In the future, if you need more time, wait longer
If an extension is permitted but the loan does not close, the Lender will be billed the extension fee by OHFA.
Outstanding fees owed by the Lender may result in that Lender becoming ineligible to participate in the program.
In the future, if you need more time, wait longer
to reserve your loan!
The agenda is to answer the following questions:
What loan options does OHFA offer?
Does OHFA offer assistance?
What are the loan terms?
What are the fees?
What properties qualify?
Are there any loan requirements?
How do I register a borrower?
What happens after registration?

51. New Reservation Limitations for the Same Borrower
If the reservation period expires and the loan has not closed, no new Reservation may be made for the same Borrower, until sixty (60) days after expiration of the prior reservation period (including extension).
Loans not purchased within 101 days will automatically be cancelled and cannot be reinstated.
In the event that Participant originates a Mortgage Loan that also has Down Payment Assistance with it, and the Mortgage Loan cannot be purchased by Servicer, the Participant may submit the Down Payment Assistance to OHFA to be purchased by OHFA in accordance with the procedures defined in the Lender Guide. For each occurrence of this event, an administration fee will be charged to Participant.
The agenda is to answer the following questions:
What loan options does OHFA offer?
Does OHFA offer assistance?
What are the loan terms?
What are the fees?
What properties qualify?
Are there any loan requirements?
How do I register a borrower?
What happens after registration?

52. Lender Responsibility for Loan Pipeline
Lenders are expected to register loans for the OHFA program once a determination has been made of its likelihood to close.
Lenders are responsible for keeping their reservation pipeline clean and current at all times.
Lenders are expected to cancel reservations for loans that will not close, within 24 hours of the change in status.
The agenda is to answer the following questions:
What loan options does OHFA offer?
Does OHFA offer assistance?
What are the loan terms?
What are the fees?
What properties qualify?
Are there any loan requirements?
How do I register a borrower?
What happens after registration?

53. Lender Responsibility for Loan Pipeline
OHFA will cancel reservations if the Pre-Close Compliance (Commitment) Package is not received within 25-days of loan reservation.
Lenders who develop a history of excessive cancellations may be removed from the program.
All changes to a reservation must be completed through Lender OnLine.
Lender OnLine will be relied upon as current and accurate.
Using an OHFA Loan as a placeholder for loan delivery is not an acceptable strategy.

54. What Can I Change on Existing Applications?
ACCEPTABLE
Increasing or decreasing the first mortgage amount by $10,000 or less
Call George K. Baum
NOT ACCEPTABLE
Changing a borrowers reserved mortgage rate, for a fee.
Increasing or decreasing the 1st mortgage amount more than $10,000.
Changing the product you have selected:
Move from a government loan to a conventional loan (or vice versa)
Move from an unassisted loan to an assisted loan (or vice versa)
Canceling and re-reserving a borrower at a lower rate.
The agenda is to answer the following questions:
What loan options does OHFA offer?
Does OHFA offer assistance?
What are the loan terms?
What are the fees?
What properties qualify?
Are there any loan requirements?
How do I register a borrower?
What happens after registration?

55. What Can I Change on Existing Applications?
Once a reservation is made, the rate is committed to the borrower.
You may not take advantage of subsequent lower rates unless you wait the required 60-days from the expiration of the last reservation, including any extensions, to re-reserve the loan.
Please address questions regarding borrower or property eligibility to OHFA or US Bank.
Please address change to amount, rate or type of reservations to George K. Baum (GKB).
Questions regarding down payment assistance should be directed to OHFA.
The agenda is to answer the following questions:
What loan options does OHFA offer?
Does OHFA offer assistance?
What are the loan terms?
What are the fees?
What properties qualify?
Are there any loan requirements?
How do I register a borrower?
What happens after registration?

56. Whom Should I Call With My Questions?
Whom to Call
Program Compliance or Down Payment Assistance
OHFA Representative
Loan Purchase or Underwriting
US Bank MRBP helpdesk or
Changes in Loan Reservations
GKB Mortgage Markets LLC:
Feedback & Suggestions
Read Slide

57. Reserving funds with ohfa

58. Reserving your loan with OHFA
Once you have logged in click on the New Reservation tab

59. Select Single Family Market Rate (+) sign and then select your loan program type

60. It is very critical that you complete as much as possible when filling in the reservation info.
Use the income calculation form to calculate and enter correct income.
The form can be found in the LO tool box

63. Once you hit submit you will receive a confirmation window, print the confirmation and send to the lock desk to update your file in MB.

64. Once your loan has been reserved you need to create the OHFA package to send to processing.
The documents do not have to be signed up front, just create them and send them to processing.
Click on the Loan Status tab to access your loan and create the documents

65. Find your borrower and select the PDF Docs option
Select Market Rate Commit Pkg. and then click on Generate Documents

66. A Generated Documents box will appear, click on the PDF to open/generate the docs.
After you have generated the docs save and send them to processing.
Now we will go to the Lender on-line and reserve a test loan

67. Time for