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Lender Production Update
Kentucky Housing Corporation (KHC) hosts the Lender Awards Luncheon every Spring, which highlights top producers for the previous year. Since we are halfway into 2016, KHC is giving you a sneak peak of current top lenders rankings. Take advantage of the remaining six months to move up the list!
Top Delegated/Correspondent Lenders- American Mortgage Service Company
- Century Mortgage Company
- Stockton Mortgage Corporation
- Commonwealth Bank & Trust Company
- First Liberty Financial Group
- Caliber Home Loans
- Envoy Mortgage
- Mortgage Suppliers
- Benchmark Mortgage
- Interlinc Mortgage Services
- Stockyards Bank & Trust Company
- First Community Mortgage
- Bank of England
- HomeServices Lending
- Primelending
Top Third Party Originator (TPO) Lenders
- New Perspective Mortgage
- Statewide Mortgage
- American Mortgage Solutions
- First Fidelity Mortgage
- Independence Bank
- Citizens National Bank of Somerset
- Heritage Bank
- Swan Financial Corporation
- Cumberland Valley National Bank & Trust
- First Commonwealth Mortgage
Top Loan Officers
- Elayne Havens
- Josh Price
- Jesse Cronen
- Chris Squires and Darrell Overstreet
- Paul Desurne
- Heather Montgomery
- Dustin Mistelske and Teri Knott
- Kevin Brinkman and Chris Roberts
- Clayton Farris and Tom Freppon
- Christie Brown and Tim Eickhoff and Helen Ruehmer
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Snap, Tag, Win!
Thanks to Ralph Adams with American Mortgage for sharing his entry for the #MyKHCHome selfie contest!
KHC wants to show off you and your new KHC customer, while celebrating the home buying season.
Just snap, tag, and win! Each month, all selfies shared with us on Facebook or Twitter will be entered to win $100 gift cards. Make sure to use #MyKHCHome with each post.
Full details and contest rules, including a printable flier, are available on KHC's website!
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Definition Change for Required Investment
The Federal Housing Administration (FHA) is changing the definition of the Required Investment field in its Technology Open To Approved Lenders (TOTAL) mortgage scorecard and FHA Connection (FHAC) technology, effective for case numbers assigned on or after Monday, August 22, 2016. This change will provide a more precise representation of the borrower's investment into the transaction. Current and New Definition  TOTAL Mortgage Scorecard ImplementationFHA has notified the Automated Underwriting System (AUS) vendors of this change. The AUS vendors are in the process of making the adjustments to their calculations for submission to the TOTAL Mortgage Scorecard. There may be a small population of loans that have case numbers assigned prior to Monday, August 22, that have not previously been scored by the TOTAL Mortgage Scorecard. In these instances: - A mortgagee's AUS vendor may not know which calculation to use until after the loan with a case number has been scored for the first time, and the AUS vendor obtains the version number that indicates the case number assignment date range; and
- Mortgagees may receive messages from their AUS vendor that the loan needs to be resubmitted and re-run through the TOTAL Mortgage Scorecard in order to obtain the correct result from the TOTAL Mortgage Scorecard.
FHA expects that this scenario will only be applicable to a small number of transactions. FHAC ImplementationFor case numbers assigned on or after August 22, mortgagees should ensure that the amount of the Required Investment entered into FHAC's required investment field on the insurance application screen is calculated using the new definition.
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