OHFA UPDATE - PAGE 2 - FALL 2019 OFFICE OF HOMEOWNERSHIP UPDATE JIM DURHAM DIRECTOR OF HOMEOWNERSHIP In the first quarter of fiscal year 2020, OHFA programs made 1,181 home loans possible -- totaling $151 million in new loans. The department is currently on target to reach its $600 million goal this fiscal year. Use of OHFA’s conventional loan product continues to outpace government loans at 56% and 44%, respectively. This fall, the homeownership team spent time out of the office, making connections with partners and expanding their knowledge base. In October, a team traveled to Boston for the annual National Council of State Housing Agencies conference, where the department was featured in a ‘Best of’ session for its use of data to measure impact across the state. Teams also traveled to conferences hosted by US Bank and Emphasys, OHFA’s loan servicer and software developer, respectively. Attending these events help department leaders stay connected with new initiatives, share best practices, and support relationship development. Homeownership represented well at the annual Ohio Housing Conference (Nov. 5-7) and led three sessions: the Power of Home, Next Generation Mythbusters, and Lower Median Income Homebuyer. Presenters focused on a forthcoming homeowner education partnership with OHFA and The Ohio State University, a fun take on the generational differences in homebuying, and an exploration of OHFA programs for homebuyers in the lower income range. As of November 1, the Save the Dream program stopped accepting new applications. The program was part of the U.S. Treasury’s Hardest Hit Fund initiative, which is winding down over the next year. OHFA has proudly served and helped more than 27,000 homeowners through the program. The Neighborhood Initiative Program remains open through 2020, reimbursing land banks as they remove blighted properties across the state. From June through August, land banks received reimbursements for 972 parcels, which brings the total remediated properties to more than 14,000. The HHF team has done an exceptional job keeping administrative costs associated with the program down. Administrative costs are currently at 8%, which is the lowest of all states currently receiving HHF dollars. Keeping costs down means more homeowners receive the help they need and more blighted properties are removed, which increases property values and helps residents feel safe. The department has also worked to streamline and centralize its workforce. All calls to the agency now funnel to a call center within the office. All calls are answered by a person, and by putting all calls through one location, customer satisfaction increases.