HARRISBURG, Pa., May 6, 2021 /PRNewswire/ -- The Pennsylvania Housing Finance Agency today honored its top lending partners for 2020 during its annual homeownership awards event, which was held virtually this year due to the pandemic. These lenders provide a great service to Pennsylvania homebuyers by working with them through the application, processing, and closing of affordable PHFA home loans.
In addition to protecting the health of all event attendees, the virtual event allowed the agency to invite all its lending partners to participate this year. That hasn't been possible in the past due to space and cost limitations.
PHFA Executive Director and CEO Robin Wiessmann included a video message in today's presentation to honor these lending organizations for their assistance to commonwealth families and individuals that make their dream of owning a home a reality.
"The advantages people gain as homeowners are substantial," Wiessmann said. "When the home they purchase fits their budget, it helps them to build personal wealth and frees them up to pursue other areas for growth in their life, like continuing education. The partnership PHFA has with our lending partners helps us to fulfill our mission of providing Pennsylvanians with homeownership opportunities they might not have otherwise."
Pennsylvania Secretary of Banking and Securities Richard Vague also honored the awardees during a videotaped message.
"The lenders being recognized play a critical role in empowering and supporting homebuyers and homeowners across Pennsylvania," said Vague. "Their tireless efforts have helped so many Pennsylvanians realize the American dream of homeownership."
Out of approximately 76 lending partners, the Top-10 were honored during the event for their role in marketing and closing PHFA home loans in 2020. The award winners will receive plaques celebrating their outstanding loan performance after today's virtual event.
The awardees are, in ranking order from number one to number 10: Howard Hanna Financial Services; Mortgage America; Jersey Shore State Bank; Residential Mortgage Services; Trident Mortgage Company; Customers Bank; Quaint Oak Mortgage; PrimeLending, A PlainsCapital Company; tied for ninth place are Guaranteed Rate and TowneBank Mortgage; and Welcome Home Finance.
Also honored in special categories were: American Bank for Most PENNVEST Loans; The Honesdale National Bank for Best Quality Post-Closing Submissions; Philadelphia Mortgage Advisors and Residential Mortgage Services tied for Most New Construction Loans; Customers Bank for Most Loans to Minority Homebuyers; Jersey Shore State Bank for Most Homestead Loans; Mortgage America for Most Keystone Advantage Assistance Loans, Most Refinance Loans and Most Mortgage Credit Certificates; Howard Hanna Financial Services for Most Loans to Veterans and Best Quality Preclosing Submissions; and Paul J. Rodriguez with HomeSmart Realty Advisors for Top Realtor.
The Pennsylvania Housing Finance Agency works to provide affordable homeownership and rental housing options for older adults, low- 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 more than $15.2 billion of funding for more than 182,570 single-family home mortgage loans, helped fund the construction of 138,000 rental units, distributed more than $121 million to support local housing initiatives, and saved the homes of nearly 50,400 families from foreclosure. PHFA programs and operations are funded primarily by the sale of securities and from fees paid by program users, not by public tax dollars. The agency is governed by a 14-member board.
SOURCE Pennsylvania Housing Finance Agency