PHFA Honors Homeownership Program Lenders


Harrisburg, PA – March 12, 2010 – (RealEstateRama) — The Pennsylvania Housing Finance Agency (PHFA) held its annual homeownership program awards banquet to honor its leading lenders at the Hilton Harrisburg on February 23, 2010. PHFA’s Executive Director and Chief Executive Officer, Brian Hudson, and PHFA’s Director of Homeownership Programs, Kate Newton, awarded certificates honoring the Agency’s top ten lenders for 2009. The top broker was also recognized, as well as the top local program administrator for the Renovate & Repair program. PHFA relies on a network of about 130 lenders and brokers who have been approved and trained to participate in the Agency’s home purchase loan programs. The lenders originate, process and close the loans, and then sell them to the Agency. PHFA then services the loans until they are paid in full.

Mr. Hudson commented on the event saying, “PHFA is proud to recognize these lending organizations for their outstanding partnership. Without them, we could not achieve our mission to provide affordable, sustainable homeownership opportunities to Pennsylvanians with modest incomes. ”

The top ten participating lenders honored at the banquet were as follows and are listed in ranking order for total PHFA home loan volume in 2009: Howard Hanna Financial Services; Sovereign Bank; Jersey Shore State Bank; West Penn Financial Service Center; Allegheny Mortgage Corporation; Boulevard Mortgage Company; Honesdale National Bank; Huntingdon Valley Bank; Liberty Mortgage Corporation; and, Gateway Funding Diversified.

Other award categories were included for the quality of loan packages and/or production of various PHFA specialty home loan products. The recipients of these special awards were: Kishacoquillas Valley National Bank for best quality post-closing submissions; Sovereign Bank for the most Keystone Assistance Loans and most loans originated to minority borrowers; Jersey Shore State Bank for the most HOMEstead Loans and most new construction loans; McCabe Mortgage Group for the best quality underwriting submissions; West Penn Financial Service Center for the most Tax Credit Advance Loans; Liberty Mortgage Corporation for the most VA loans; and, MNET Mortgage for being the top new lender. PHFA’s leading mortgage broker for 2009 was Select Mortgage; and the leading originator of Renovate and Repair loans was AFC First Financial Corp.

The Pennsylvania Housing Finance Agency was created by the General Assembly in 1972 to provide affordable housing for older adults, individuals and families of modest means, and persons with disabilities.

Contact: Kate Newton 717.780.3871


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