HARRISBURG, Pa., March 16, 2011 /PRNewswire-USNewswire/ -- At a banquet held today at the agency's headquarters, the Pennsylvania Housing Finance Agency honored its top-10 participating lenders for their homeownership programs. These lenders assist homebuyers throughout the state in the application, processing, and closing of PHFA loans. Brian Hudson, executive director and CEO, recognized these outstanding organizations in their efforts to assist Commonwealth families and individuals achieve the American dream of homeownership.
Out of approximately 120 participating lenders, the top 10 were presented awards at the banquet and were recognized for home loans funded by PHFA in 2010. The agency's honorary partners are, in ranking order: Sovereign Bank, Howard Hanna Financial Services, West Penn Financial Service Center, Jersey Shore State Bank, Gateway Funding Diversified Mortgage Services, Wells Fargo Home Mortgage, Boulevard Mortgage Company of PA, Allegheny Mortgage Corp, Huntingdon Valley Bank, and Fulton Mortgage Company.
Some lenders were further recognized for the quality of their loan packages and/or production of various specialty home loan products. Special award recipients were: Sovereign Bank for the Most Keystone Assistance Loans, Most Loans to Minority Homebuyers, and Most New Construction Loans; Jersey Shore State Bank for the Most HOMEstead Loans and the Best Quality Post-Closing Submissions; Howard Hanna Financial Services for being the Top QuikClose Lender; Allegheny Mortgage Corp for the Best Quality Underwriting Submissions; West Penn Financial Service Center for the Most Tax Credit Advance Loans; First American Mortgage for the Number One New Lender; and Select Mortgage for the Top Third Party Originator category.
The Pennsylvania Housing Finance Agency works to provide affordable homeownership and rental apartment options for older adults, lower- and moderate-income families, and people with special housing needs. Through its carefully managed mortgage programs and investments in multifamily housing developments, PHFA also promotes economic development across the state. Since its creation by the legislature in 1972, it has generated $9.9 billion of funding for more than 141,700 single-family home mortgage loans and 83,000 rental units, while saving the homes of nearly 45,500 families from foreclosure. PHFA programs and operations are funded primarily by the sale of securities with the exception of its Homeowners' Emergency Mortgage Assistance Program, which it receives a state appropriation to administer. PHFA is governed by a 14-member board of directors.
SOURCE Pennsylvania Housing Finance Agency