OHFA 2023 First Quarter Agency at a Glance

OHFA UPDATE - PAGE 5 - 2023 FIRST QUARTER SINGLE FAMILY HOUSING UPDATE ERIN HIGGINS RESIDENTIAL LENDING SECTION CHIEF THOMAS E. WALKER HOUSING PRESERVATION DEVELOPMENT SECTION CHIEF The Office of Single Family Housing Residential Lending Division has enjoyed numbers during the first quarter of 2023 that are beyond our expectations. Given today’s rate environment and continued lack of inventory, we did not anticipate the volume of loan applications we have received. As of March 23, 2023, we have received 895 loan reservations for almost a total of $150 million. During the same timeframe in 2022, we had received 1,012 loans for $156 million; however, interest rates in March 2022 were around 4.5% whereas today they are more than 2% higher at 6.625%. Lenders are renewing their interest in OHFA’s programs, too. We have trained 400 mortgage professionals via live webinars and in-person trainings since the beginning of 2023. We value the partnerships we have with our participating lenders who link us to our homeowners. We strive to make our programs user-friendly for our lenders so they want to use our programs to help their borrowers. New lenders have expressed strong interest in OHFA’s programs. In fact, we have signed two new lenders and sent 21 contract documents to other lending organizations. Below are the top 10 lenders of Fiscal Year 2023, as of March 30. Since the announcement of the Third-Party Originators (TPO) program, we have seen strong interest in the program. We have signed and confirmed our first sponsoring lender, Click-n-Close dba Schmidt Mortgage Company, and we have additional lenders in the application process. 2023 will be an exciting year in residential lending! Lender Number of Loans Loan Amount Fairway Independent Mortgage Corp 400 $57,502,321.00 CrossCountry Mortgage LLC 195 $31,094,372.00 Ruoff Mortgage Company Inc 135 $22,696,040.00 The Huntington National Bank 126 $17,434,289.00 First Ohio Home Finance Inc 103 $16,176,138.00 Union Home Mortgage Corp 100 $16,170,841.00 Waterstone Mortgage Corporation 95 $11,774,214.00 Amerifirst Financial Corp. 82 $11,116,978.00 Revolution Mortgage 70 $11,949,311.00 USA Mortgage 68 $11,361,235.00