- Wyoming Community Development Authority

Monthly Lender Presentation
04-2013
HOUSEKEEPING
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SINGLE FAMILY CONTACTS
Wendy Kindel,
Director of Single Family Programs
Email: [email protected]
Ronda L. McCarthy,
Loan Review Manager
Email: [email protected]
Telephone: 307-233-0030
Kassi Raymond
Loan Review Specialist
Email: [email protected]
Telephone: 307-233-0066
Connie Cain-Stinson
Loan Review Specialist
Email: [email protected]
Telephone: 307-233-0056
An Important Note about Seminar
Content
• While every effort has been made to ensure the
reliability of the session content, Wyoming
Community Development Authority’s
Seller/Servicer Guide, and updates, including
Announcements and Release Notes, are the official
statements of Wyoming Community Development
Authority’s policies and procedures and control in
the event of discrepancies between the information
in this seminar and the Guide.
PURPOSE OF THIS CLASS
• To provide a clear understanding of the WCDA
process
• To provide In Depth Information of WCDA Programs
and Requirements
WCDA OVERVIEW
• State Housing Finance Agency (HFA)
• Each State has an HFA
• Our Primary programs are the Single Family Mortgage
Revenue Bond Program and the HFA Preferred Loan
Program which provides lenders with a secondary
market for homebuyer loans
WCDA OVERVIEW
•
•
•
•
WCDA was created by state statute in 1975
We operate as an instrumentality of the State
WCDA does not receive any state funds
Administered by a Board of Directors which is
appointed by the Governor and approved by the
State Senate
WCDA BOARD OF DIRECTORS
• Honorable Matt Mead – Governor
• Honorable Mark Gordon – Interim appointed State
Treasurer
• Dan Sullivan – Casper – Chairman
• Pat Hand – Douglas – Vice Chairman
• Lesli Wright – Casper – Sect/Treasurer
• Rob Boner – Douglas
• Kari Cooper – Jackson
• Judy Lane – Cheyenne
• Wayne Deahl - Torrington
• David Haney – Executive Director WCDA
HOW DOES WCDA RAISE CAPITAL
• The Mortgage Revenue Bond (MRB) Program is
regulated by the IRS
• Funds are raised through the sale of Tax-Exempt
Mortgage Revenue Bonds (MRB)
• WCDA acts as a mortgage investor and purchases
the loans from participating lenders throughout
the state
• WCDA offers the program through 20 Participating
Lenders across the state
HOW DOES WCDA RAISE CAPITAL
• More recently WCDA has been working with Fannie
Mae through their “My Community Mortgage”
program to purchase loans from participating
lenders and sell them onto Fannie Mae. These loans
are conventional loans.
• The program is called HFA Preferred and HFA
Preferred Risk Sharing.
• WCDA retains the Servicing of these loans.
WCDA’S WEB SITE OVERVIEW
• www.wyomingcda.com
•
• Red Tab entitled “Homebuyers”
click here
If your homebuyer has questions about our
programs, please suggest that they go to our
website and follow the instructions listed above.
WCDA’S WEBSITE OVERVIEW
– Useful Links
• Current Rates and Availability
• Real Estate and Lender Info
• Wyoming Demographics
• Rental Directory–
• Neighborhood Stabilization Program
• NSP Reporting
• WRAP (Wyoming Rehabilitation and Acquisition
Program)
• Contractor Info
• Homebuyer Education
LENDER ON LINE
• Each lender sets up their own password to use this
website
• The Website allows lenders to reserve funds for
loans, view the availability of funds, look at the
bulletin board or memos and program documents.
• In addition, lenders are able to run various reports
on their outstanding loans
• Lenders upload their loan files electronically.
BORROWER ON LINE
• This is a part of our Website
• Our existing loan customers set up their own
password.
• The password allows them to look at their payment
history and reprint year end statement information.
• The borrower can also direct specific questions to
our Mortgage Servicing Department through
Borrower on Line.
WCDA’s CURRENT
HOMEOWNERSHIP PROGRAMS
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Standard First time Homebuyer Program
Spirit! Of Wyoming Homeownership Initiative
Spruce I
Spruce II
Home Again Program
HFA Preferred
HFA Preferred Risk Sharing
Down Payment Loan Program
Homebuyer Assistance Down Payment Loan
WCDA’s CURRENT
HOMEOWNERSHIP PROGRAMS
• Please refer to our latest Seller/Servicer Guide for
details and backup for All programs, documents and
policies we discuss today.
• The Seller/Servicer Guide was updated in the Spring
of 2011and is available on Lender on Line, under
Program Documents.
STANDARD FIRST TIME
HOMEBUYER PROGRAM
• Current interest rate is a Fixed 3.000% on first
mortgages
• Current interest rate is a fixed 4.50% on second
mortgages
• WCDA can change rates daily
• 30 year mortgages
• 1% Lender loan Origination Fee, based on base loan
amount.
• Check Exhibit IX to insure you are only charging
allowable closing costs
Current Interest Rates
Available daily on the
website
Always check Lender
on Line for availability
of funds
GETTING STARTED
• Once you have determined you will be using WCDA,
go to Lender on Line (LOL) and make a loan
reservation or loan commitment if using HFA
Preferred.
• Keep a copy of the confirmation stating that your
reservation has been accepted.
• Remember to keep your Reservation information up
to date, particularly loan amounts.
STANDARD FIRST TIME
HOMEBUYER PROGRAM
• WCDA charges 1/4% Commitment Fee on all loans
in this program, based on loan amount
• All WCDA loans require completion of both the online Homebuyer Education class and the one-onone counseling class. Classes are through the
Wyoming Housing Network (WHN). WHN email:
www.whninc.org, telephone 307-472-5843
• The cost of both classes is $50.00
STANDARD FIRST TIME
HOMEBUYER PROGRAM
WCDA purchases the following loan types
– FHA Insured
– Rural Development Guaranteed
– VA Guaranteed
– Conventional loans offered through HFA
Preferred and HFA Preferred Risk Sharing are
under a separate program than the Standard First
Time Homebuyer Program
FEDERAL PROGRAM
REQUIREMENTS
• Tax-exempt Mortgage Revenue Bonds are
restricted by IRS Regulations:
• Three-year Requirement
• Income Requirement
• New Mortgage Requirement
• Residence Requirement
• Purchase Price Requirement
• Recapture Requirement
THREE YEAR REQUIREMENT
• Each mortgagor must have had no present ownership
interest in a principal residence including an interest in
a factory-made house, such as a mobile home
permanently affixed to land owned by applicant at
anytime during the three year period prior to the date
on which the Mortgage Loan is executed.
THREE YEAR
REQUIREMENT EXAMPLE
EXAMPLE #1
• A couple moved to Wyoming from California 3
years ago and have been renting in Wyoming and
now want to purchase a home. They still own their
home in California and use it as a rental, do they
qualify as a First Time Homebuyer?
Yes/No
THREE YEAR
REQUIREMENT ANSWER
• Typically yes, as long as they have not claimed any
home mortgage interest or real estate taxes on
Schedule A of their last 3 years income tax returns.
THREE YEAR
REQUIREMENT EXAMPLE
EXAMPLE #2
• A couple lives in a manufactured home on a rental
lot, and want to apply for a first time homebuyer
loan through WCDA. do they qualify as a first time
homebuyer?
Yes/No
THREE YEAR
REQUIREMENT ANSWER
• Probably, as long as they have not claimed any
Home mortgage interest or real estates taxes on
Schedule A of their last 3 years income tax returns.
THREE YEAR
REQUIREMENT EXAMPLE
EXAMPLE #3
• A couple purchased a home on a Contract for Deed
and they have been living in it for 1-1/2 years and
would like to qualify for a WCDA loan, do they
qualify?
Yes/No
THREE YEAR
REQUIREMENT ANSWER
• ONLY if the term of the Contract for Deed was for
24 months or less.
THREE YEAR
REQUIREMENT EXAMPLE
EXAMPLE #4
• 3 Children inherit a house from their parents with all
children being on the deed. The one living in it would
like to purchase the home from the rest of the children
using a WCDA loan. Would that qualify for a WCDA
first time homebuyer loan?
Yes/No
THREE YEAR
REQUIREMENT ANSWER
• NO, if they are on the deed and living in it, they
would not be considered first time homebuyers
under the WCDA program.
INCOME REQUIREMENTS
• By County
• By Family Size
• Income Limits for most counties
– Family of 1 & 2 - $70,000
– Family of 3 or more - $81,000
(As of July, 2012)
Some counties are higher
Income and
Purchase Price
Limitations By
County
Form 250-A
(07/12)
INCOME REQUIREMENTS
• Anticipated Income for the next 12 months of the
mortgagor and spouse and any other person who is
expected to both live in the residence and be
secondarily liable for the mortgage
• Must assume income will continue unless there is
verifiable evidence to the contrary.
MPP 275
Family Income
worksheet
(updated 03/10)
MPP 275
Family Income
worksheet
(updated 03/10)
Page 2
MPP 275
Family Income
worksheet
(updated 03/10)
Page 3
INCOME REQUIREMENTS
• Sources of Income –see Family Income Worksheet – all
sources must be verified by lender
• Income includes
– All wages, salaries, overtime pay, commissions, fees,
tips and bonuses before payroll deductions, interest
and dividends, net rental income, social security,
annuities, insurance policies, retirement funds,
pensions, disability income, death benefits, alimony,
child support, special pay and allowances such as
flight pay, professional pay, ration allowance,
quarters allowance
INCOME REQUIREMENTS
• Family Definition - for the purposes of determining
family size (and thus the applicable Family Income
Limits)
– Family means a person or group of persons
consisting of, but not limited to the head of
household, the spouse, if any, and children, if any
who are allowable as personal exemptions for
federal income tax purposes, all mortgagors,
persons residing in the residence and related by
blood, marriage or law - “dependent” (and claimed
as such for federal income tax purposes) children
and adults who are residing in the residence.
INCOME REQUIREMENTS EXAMPLE
EXAMPLE #1
• A husband and wife go to the bank to qualify for a
WCDA loan, but the lender is requiring the wife to
stay off loan. Does lender need to use wife’s income
in order to qualify under WCDA’s income
requirement?
Yes/No
INCOME REQUIREMENTS ANSWER
• YES, even though the wife is staying off the loan,
the lender must verify and use the wife’s income
and include it in the family income worksheet for
eligibility and have her sign the worksheet. The
wife's income must be verified, even if she does not
work.
INCOME REQUIREMENTS EXAMPLE
EXAMPLE #2
• A couple moves to Wyoming from Colorado where
his income was much higher. In Wyoming his
income will be less. Will the lender have to take the
current income and project forward for 12 months
to qualify for WCDA income limits?
Yes/No
INCOME REQUIREMENTS ANSWER
• YES, we use current pay stubs and voe’s to calculate
the income for WCDA. The lender will then project
the income forward for 12 months to make sure the
borrower is within the WCDA income limits. This
also applies if the income has increased, use only
anticipated income.
INCOME REQUIREMENTS EXAMPLE
EXAMPLE #3
• A Husband and wife go to the bank to qualify for a
WCDA loan and the wife is pregnant. Can they be a
family size of 3 even though the baby is not born
yet?
Yes/No
INCOME REQUIREMENTS ANSWER
• YES, we allow lenders to utilize an unborn baby as a
family size of 3 (husband, wife and unborn baby).
We would like a written statement from the
borrowers stating they are expecting.
INCOME REQUIREMENTS
EXAMPLE
EXAMPLE #4
• A couple wants to qualify for a WCDA loan and the
husband receives overtime and has shown a
pattern that overtime is likely to continue. Would
WCDA use the overtime to determine if they are
under the income limit?
Yes/No
INCOME REQUIREMENTS ANSWER
• YES, if they show a pattern of overtime and the
employer states it is likely to continue, lenders must use
the overtime to determine if the couple is under the
WCDA income limits.
– NOTE: Unless employer states it is no longer
expected due to more people hired, or economic
cut backs, etc., then they don’t have to use it.
NEW MORTGAGE
REQUIREMENTS
• No refinances
• Some exceptions may be made on short term
Bridge loans, construction loans and temporary
loans with a term less than 24 months
• Another Exception (Spruce Up Wyoming II loans)
NEW MORTGAGE
REQUIREMENT EXAMPLE
EXAMPLE #1
• A couple finds a HUD home and would like to
purchase it and do the repairs to it but they have to
buy it AS IS per HUD. Can the lender do a short term
(24 months or less) bridge loan for the couple to
purchase house and do repairs and then take the
bridge loan out with a 30 year WCDA loan when
done?
Yes/No
NEW MORTGAGE
REQUIREMENT ANSWER
• YES, the borrower would be able to get a short term
bridge loan (24 months or less) to purchase the
property, do the repairs and then use the WCDA 30
year loan as the permanent take out loan.
NEW MORTGAGE
REQUIREMENT EXAMPLE
EXAMPLE #2
• Is an applicant eligible for a WCDA loan if he
rents a house for 18 months with an option to
purchase at fair market value as soon as
suitable financing is available?
Yes/No
NEW MORTGAGE
REQUIREMENT ANSWER
• YES, as long as they are not in title, and are
purchasing it at fair market value, they would
qualify for a WCDA loan to purchase the property.
RESIDENCE REQUIREMENT
• Residence means a one-unit, single family, owner
occupied home located in the State of Wyoming
• Owner-occupied Principal Residence
• Borrowers are not allowed to rent the property
during the term of the WCDA Mortgage (Single
Family Program only)
-Some exceptions for hardship situations only with
written permission from WCDA and on a case by
case basis.
RESIDENCE REQUIREMENT
• WCDA financed homes should be single family
residences only
– No second unit on property
– Exceptions may be made for a basement
apartment in a home that is zoned single
family--on a case by case basis with a special
“no-rent” affidavit signed
– Maximum Acreage – 6.0 acres
RESIDENCE REQUIREMENT
– Cannot finance more than one building lot.
If a parcel contains two or three building lots which is
capable of being subdivided and sold off or rented
separately from the portion used as a residence then the
property is not eligible for WCDA financing. If there are
lender questions, we will look at this on a case by case
basis.
– Borrower does not intend to use more than 15% of the
total area of the residence and or out buildings in a
manner which would qualify for deductions for use of
the property in a trade or business
– Property cannot be used as an investment property or
recreational home.
RESIDENCE REQUIREMENT
Manufactured Housing requirements (Single Family
Program Only:
– Permanent Foundation per FHA requirements
certified by engineer
– FHA loans only
– Manufactured homes may not have been moved
more than once (dealer lot to home site)
– If Manufactured home has been moved more
than once it is not eligible for FHA Financing
– MANUFACTURED CHECK SHEET
Manufactured Home
Document
Requirements
MPP 277 (04/2010)
RESIDENCE REQUIREMENT
EXAMPLE
EXAMPLE #2
• A couple wants to purchase a property that has a loft
apartment above garage that they want to use for a
painting studio , will this property qualify for WCDA?
Yes/No
RESIDENCE REQUIREMENT
ANSWER
• NO, generally this would not be acceptable. If there
are special circumstances, WCDA can look at these
case by case. WCDA is going to look at the final
intent of the room.
RESIDENCE REQUIREMENT
EXAMPLES
EXAMPLE #3
• A couple wants to purchase a home, zoned for
single family, and it has a basement type apartment
in it. Can this property qualify for a WCDA loan?
Yes/No
RESIDENCE REQUIREMENT
ANSWER
• Maybe, WCDA would look at it on a case by case basis
to see if it would qualify. If approved, the buyer
would have to sign a WCDA Affidavit of Intent not to
Rent.
Affidavit of Intent
NOT TO RENT
MPP 204
(05/1999)
RESIDENCE REQUIREMENT
EXAMPLES
EXAMPLE #4
• A couple found a property with 7.5 acres and would
like to use WCDA. It also has a manufactured home
on it on a permanent foundation. Would this qualify
for a WCDA loan?
Yes/No
RESIDENCE REQUIREMENT
ANSWER
• NO, WCDA’S acreage limit is 6 acres.
PURCHASE PRICE REQUIREMENT
• Certified on Mortgagors Affidavit of Eligibility, the Acquisition Cost
of the Residence must not exceed the Purchase Price Limitation in
effect for the county in which the residence is located as set forth
on form MPP 250A
• Acquisition cost is defined as the cost of acquiring a Residence from
the seller as a completed Residential Unit and includes the
following:
– All amounts paid, either in cash or in kind, by the mortgagor
(or a related party or for the benefit of the mortgagor to the
seller (or a related party or for the benefit of the seller) as
consideration for the residence
Mortgagor’s
Affidavit of
Eligibility
MPP 201-a
(04/2012)
Mortgagor’s
Affidavit of
Eligibility
Page 2
MPP 201-a
(04/2012)
Mortgagor’s
Affidavit of
Eligibility
Page 3
MPP 201-a
(04/2012)
Mortgagor’s
Affidavit of
Eligibility
Page 4
MPP 201-a
(Notary section
under
construction
Mortgagor’s
Affidavit of
Eligibility
Page 5
Notary section
under
construction
PURCHASE PRICE REQUIREMENT
• The “buy-sell” agreement for the purchase price of the residence
has been provided to the Lender and the purchase price stated
therein is true, correct and complete as stated.
• No person other than the buyer will pay any amounts to the
seller on behalf of the buyer.
• The buyer understands that for the purposes of the acquisition
cost, the purchase price of the residence is the cost of acquiring
the residence from the seller as a completed residential unit.
PURCHASE PRICE REQUIREMENT
• The residence is a complete dwelling unit and the
buyer has not entered into any contract or
agreement to modify the residence beyond its
physical conditions at the time of closing for at least
the next 6 months.
• No part of the proceeds of the Mortgage loan is being
applied to purchase appliances, furniture, or other
property not permanently affixed to the residence.
PURCHASE PRICE REQUIRMENT
• NEW CONSTRUCTION
-Where Mortgagor acts as own general contractor, all costs of building
the home including land, site work, utilities, landscaping, construction
loan interest and fees, etc.
-Land does not need to be included in cost if it has been owned by
mortgagor for more than two years prior to the date on which
construction of the residence began.
-Value of services performed by the mortgagor or members of the
mortgagor’s family (“sweat equity”) does not need to be included in
acquisition costs. (Family includes spouse, brothers and sisters,
ancestors and lineal descendants)
PURCHASE PRICE REQUIREMENT
• In sales transactions where seller and buyer are related,
neither the Purchase Price nor the appraised value may
exceed the WCDA Purchase Price Limit.
• WCDA’S PURCHASE PRICE LIMITS
– $250,000 for both new and existing homes in
most counties
– $275,000 Sublette County
– $400,000 for Teton County
PURCHASE PRICE REQUIREMENT
EXAMPLE
EXAMPLE #1
• A couple finds a house for $254,000.00 and pays
$4,000.00 directly to the sellers outside of the
transaction. Will this home qualify for WCDA under
the purchase price requirement?
Yes/No
PURCHASE PRICE REQUIREMENT
ANSWER
• NO, the actual purchase price in the contract for sale
cannot exceed $250,000.00. No side agreements
allowed to bring the purchase price down to
$250,000.00
PURCHASE PRICE REQUIREMENT
EXAMPLE
EXAMPLE #2
• A couple finds a home for $250,000.00 and will pay
seller $5,000.00 extra for the personal property:
patio furniture, barbeque, moveable bar and bar
stools, karaoke machine, 52” flat screen TV, stove,
refrigerator, washer/dryer and pool table out of
pocket by doing a separate Bill of Sale, will this
qualify WCDA?
Yes/No
PURCHASE PRICE REQUIREMENT
ANSWER
• YES, the sales contract states purchase price of
$250,000.00, which is within WCDA’s purchase price
limit of $250.000.00. ANY AND ALL PERSONAL
PROPERTY should be transferred under a separate
bill of sale.
PURCHASE PRICE REQUIREMENT
EXAMPLE
EXAMPLE #3
• A couple finds a house situated on both Lots 2 and
3. The couple would like to purchase Lots 2, 3 & 4
under WCDA and later on sell off Lot 4 to use the
money for a new garage. Does this qualify for a
WCDA loan?
Yes/No
PURCHASE PRICE REQUIREMENT
ANSWER
• NO, WCDA only allows purchasing of single family
lots that cannot be sold off for profit. Since Lot 4
could be sold off separately, this property would
not be acceptable for a WCDA purchase.
TARGETED AREAS
•
•
•
•
Areas of Chronic Economic Distress as determined by the IRS through
Census information
Three-Year Requirement does not apply
Income and Purchase Price Limits may be Higher
Currently 2 targeted areas in Wyoming
– North Casper and Downtown Casper – including the
redevelopment area – Census Tract 0002
– Laramie – Census Tract 9635 – an area which is made up of the
University of Wyoming campus
*CALL WCDA IF YOU ARE PLANNING SOMETHING IN CENSUS
TRACT 2 TO SEE IF THERE MIGHT BE DIFFERENT TARGETED
AREAS ONCE THE 2010 CENSUS INFORMATION IS ANALYZIED
Targeted
Areas
State of Wyoming
Determined by
HUD
FEDERAL RECAPTURE REQUIREMENTS
• THREE THINGS MUST OCCUR FOR RECAPTURE TO
APPLY:
– The Sale of the home during the first nine years
of the mortgage, and
– There is a gain on the sale of the home, and
– The mortgagor is over the income limit as
prescribed on the Recapture notices in the year
the home is sold
FEDERAL RECAPTURE
REQUIREMENTS
• If Recapture applies, it will not be more than the lesser of 6.25%
of the original principal loan amount or 50% of the gain
– Example: $10,000 gain on the sale would be $5,000.00
OR
– Example FOR LINE #6 APPENDIX 2:
$150,000.00 X 6.25% = $9,375.00
Recapture Tax calculation is required by the IRS for the tax year
in which they sell. If there is a Recapture Tax owed, it is paid
to the IRS
FEDERAL RECAPTURE
• See IRS Form 8828, recapture of Federal Mortgage
Subsidy
• See IRS Publication 523, Selling Your Home
• Forms and Publications can be downloaded from
the IRS website at www.irs.govSee IRS Form 8828,
Recapture of Federal Mortgage Subsidy
FEDERAL RECAPTURE
• Effective with loan reservations made after January
1, 2012, any homeowner who has to pay a recapture
tax penalty can receive reimbursement for the
payment from WCDA.
• Refer to Memorandum 2011-24 for details.
Notice to
Mortgagor of
Potential
Recapture Tax
Appendix 1
Page 1
88
Notice to
Mortgagor of
Potential
Recapture Tax
Appendix 1
Page 2
89
NOTICE TO MORTGAGOR
APPENDIX 2
91
NOTICE TO MORTGAGOR
APPENDIX 2
Appendix 2
Recapture Tax
Campbell
County
Appendix 2
Recapture Tax
Sublette County
Appendix 2
Recapture Tax
Sweetwater County
Appendix 2
Recapture Tax
Teton County
Appendix 2
Recapture Tax
All Other
Counties
RECAPTURE REQUIREMENT EXAMPLE
EXAMPLE #2
• Borrower wants to re-finance their WCDA mortgage
after 5 years. Do they have to worry about the
recapture?
Yes/No
RECAPTURE REQUIREMENT ANSWER
• NOT AT THE TIME OF REFINANCING, but they need
to keep the 9 year rule still in play. They still might
have to worry about recapture if they SELL within 9
years.
HFA* PREFERRED PROGRAMS
• New Conventional loan programs based on the My
Community Mortgage program with some
variances:
– HFA* Preferred
– HFA Preferred Risk Sharing (No MI)
• * Housing Finance Agency
• These two new programs are on Desktop
Underwriter (DU), Desktop Originator (DO) or Loan
Prospector (LP):
NOW ACCEPTING LP APPROVALS
• Loan Prospector (LP) Loan “Accept” approvals for the
Home Possible programs also allowed
– No manually underwritten loans allowed using LP
– 700 Fico required for LP loans over 80% LTV
– Income that must be documented with signed tax
returns, per LP must have two years taken into
consideration when calculating income for loan
approval.
– Only “Accept” approvals allowed
– Submit the same as DU/DO loans
HFA PREFERRED PROGRAMS
• No loan level price adjustments (LLPA’s)
• MI rates are low My Community Mortgage rates
(ie:97% LTV needs 18% MI, 95% NEEDS 16%)
• WCDA Down Payment loan qualifies (purchases
only)
• Manual underwrites have stricter rules and
require a larger down payment. Refer to Fannie
Mae Eligibility Matrix (updated Matrix March
2012
• We will publish rates at least daily on our web site
HFA PROGRAM DETAILS
• VERY IMPORTANT: Lenders are responsible for
meeting the MI company guidelines, which may be
more stringent than FNMA and WCDA rules listed
herein.
– For example: FICO scores, reserves and
borrower contribution
HFA PROGRAM DETAILS
• Conventional Product
• Up to 97% Loan to Value (LTV), providing lender gets
DU, DO or 95% LTV with LP approval
• 30 year fixed rate
• Purchases or limited cash-out refinances allowed* *3
day right of rescission must be met prior to delivery.
• Owner Occupied (for at least the first year)
• 1 Unit , single family home
• No first time homebuyer rule
• WCDA Income Limits apply
HFA INCOME LIMITS
WCDA Standard program income limits apply:
1. Use WCDA income calculation of current
income projected forward for one year.
2. Do NOT average W2 wage earners
3. Self employment income, commission, over
time and bonuses are averaged over two years
(unless an unusual situation is explained in the
file.
4. Use new HFA Family Income Worksheet
MPP275HFA
HFA INCOME LIMIT EXCEPTION
• If a property is eligible for Fannie Neighbors, no
income limit applies.
– Go to eFannieMae.com and sign up for Fannie’s
geo code program and enter the property
address to see if it is eligible.
https://commlend.efanniemae.com/propertygeo
coder
– For example, most of North Casper is eligible.
– Commitment must be manually sent in to Pat
Crawford’s attention
PROGRAM DETAILS CONT…
•
•
•
•
•
Maximum loan = FNMA limits
No purchase price limit
No recapture tax
No commitment fee
WCDA Down Payment loan allowed on purchases –
a total CLTV of 105% and all of WCDA Down
Payment loan rules
• No reserves or borrower contribution (unless WCDA
2nd used)
PROGRAM DETAIL CHANGES
• Effective with applications of December 1, 2012,
the lender must use Minimum FICO determined by
FNMA selling guide, and WCDA Down Payment
Loan requirements. Other requirements are
determined when lender chooses the HFA option
on the Community Lending screen in DU.
• DU and DO Approve/Eligible only. All Refer results
will need to be manually underwritten.
PROGRAM DETAIL CHANGES
CONTINUED
• Manual underwrites have more stringent rules:
– Minimum FICO 680 (WCDA requirement)
– Must have DU or DO Refer with Caution result
included in file and all terms of Refer met, along
with underwriters comments as to why they
approved the loan.
– Maximum DTI 45%
– Manual underwrites will not be eligible for the
FNMA Limited reps and warrants policy.
PROGRAM DETAIL CHANGES
CONTINUED
• Manual underwrites on applications starting
December 1, 2012 must comply with the maximum
DTI Ratio, minimum credit score, Maximum
LTV/CLTV/HCLTV ratio, down payment and
minimum months of reserve requirements set forth
in the Eligibility Matrix posted on
www.efanniemae.com as applicable to manually
underwritten MCM mortgages.
OTHER PROGRAM DETAILS
• No Manufactured Homes
• The 2 part Homebuyer Education is required prior to
closing
• 6 acre limit applies
• Borrower may not own another dwelling at the time
of closing including a MH on a rented lot. (MCM
requirement)
• Genworth and MGIC mortgage insurance accepted
PROGRAM DETAILS
•
•
•
•
Tax and Insurance escrows are required
These loans are not assumable
Edoc file submission is required
Lenders are responsible for meeting the MI
company guidelines, which may be more stringent
than FNMA and WCDA.
COMMITMENTS
• Reservations are commitments under this program with a 30
day expiration. (calendar days)
– Overnight pricing will be honored for commitments made
Monday thru Thursday. Commitments received after 3:00
PM on Friday or the day before a holiday, will receive the
next business day pricing.
– Loan must be received by WCDA by 30th day
• Includes Edocs file, and original note, and checks.
– WCDA recommends waiting until appraisal, inspections and
preliminary credit approval are done before locking rate.
PENALTIES & EXTENSIONS
• Penalties for late delivery :
– 1-5 days late
.125% penalty
– 6-15 days late
.25% penalty
– 15-30 days late
.50% penalty
– No cancellation notice before expiration
.125% penalty
Late delivery penalties will be deducted when we
purchase the loan.
No cancellation penalties will be invoiced to the lender
PAYMENT COMPARISON
• Assume 97%, 30 year loan for
$150,000 660 FICO
• HFA Preferred No MI:
– P&I @ 4.125%
$726.97
• HFA Preferred:
– P&I @ 3.75%
$694.67
– MI @ 18% coverage 112.50
$807.17
PAYMENT COMPARISON
• Assume 95%, 30 year loan for
$150,000 660 FICO
• HFA Preferred No MI:
– P&I @ 4.125%
$726.97
• HFA Preferred:
– P&I @ 3.75%
$694.67
– MI @ 16% coverage
87.50
$782.17
EXCEPTIONS
• These loans will be sold to FNMA, therefore they
must meet FNMA MCM guidelines, the HFA
variances and the MI company guidelines (if appl.)
or LP Home Possible guidelines and variances listed
above.
• WCDA cannot make exceptions to FNMA or MI
guidelines.
LENDER REQUIREMENTS
•
•
•
•
Current WCDA Participating Lender or
Current FNMA/DU approved Lender or
Current correspondent lender with a major secondary market
investor
Or
Meet all of the following eligibility requirements:
– Must have an operating office within Wyoming
– Must have a net worth of no less than $500,000
– Must be in good standing with the Secretary of State
– All originators must have a valid NMLS number
– Must have the technology to run loans through Desktop
Originator and submit files electronically via WCDA’s Edocs
system
LENDER REQUIREMENTS
ALL LENDERS MUST BE APPROVED by WCDA TO
PARTICIPATE
and must sign all the agreements associated with
doing business with WCDA, including
representations and warrants that all loans
submitted for purchase are underwritten
according the FNMA, Mortgage Insurance and
WCDA guidelines.
HFA Family
Income Worksheet
Page 1
MPP 227
HFA Family
Income Worksheet
Page 2
MPP 227
HFA Family Income
Worksheet
Page 3
MPP 227
WCDA Checklists
•
•
•
•
•
•
Standard program required Document List
Spruce Up Required Document List
Spirit Required Document List
Down Payment Document List
Homebuyer Document List
HFA Preferred and HFA Preferred No Risk
Documents Checklist (discussed in previous screen)
SPRUCE UP PROGRAM
CHECK LIST
SPRUCE UP CHECKLIST
• Use only SU forms listed on the checklist. If you use a substitute
form, it must be approved by WCDA.
• The SU forms need to be completely filled in and signed by the
appropriate parties.
• Remember that all five major systems in the home must be
inspected, i.e., heating, plumbing, electrical, foundation and roof. If
they show work needed, that work must be addressed first.
• Lenders are allowed up to a 2% LOF on Spruce Up loans and also an
additional fee of up to $350 by FHA (defined on Maximum
Mortgage Worksheet).
SPRUCE UP WYOMING I
• Purchase and Rehab of a home
• First-time homebuyers
• Set-aside under WCDA’s standard Program so all
regular program requirements apply
– Income limits, purchase price limits, recapture, no
refinancing
• FHA 203 (k) loans and Rural Development loans
• Could accomplish the same thing with a construction or bridge
loan from lender and then use WCDA as the permanent take out
loan, then more fees would be charged borrower because there
are two loans.
QUALIFYING MORTGAGE LOANS
Spruce I and Spruce II
• Transaction done with single-close loan
– FHA 203 (k)
– Rural Development – HOME PURCHASE AND
REHAB ONLY
• Transaction done with bridge loan financing
– WCDA Permanent take out loan may be:
• FHA, VA, or RD
SPRUCE UP WYOMING I
• Borrower will need to do a work write up that
lender approves for SUI eligibility.
• Lender will require inspections
• Borrower will get bids for rehab work
• Lender will send work write up and bids to
appraiser in order to get after rehab appraisal
• Appraisal must support the purchase price plus
the rehab plus a contingency reserve
• FHA, Rural Development and even the lender may
have their own additional requirements
SPRUCE UP WYOMING I
• No minimum rehab required to make property
eligible
• 3.000%, 30 year financing
– Limited funding
• Recapture does apply
SPRUCE UP WYOMING I
ESSENTIAL REPAIRS
• Structural alterations and reconstructions
• Essential changes for improved functions and essential
modernization
• Health and safety hazards
• Plumbing, heating, repairs to existing air conditioning,
and electrical
• Roofing, gutters, and downspouts
• Flooring, tiling, and carpeting- essential, not cosmetic
• Cost effective Energy conservation measures like
insulation (windows will typically be considered
cosmetic)
• Erosion prevention/negative drainage
• Handicap accessibility
SPRUCE UP WYOMING II
•
•
•
•
Purpose is to address condition of existing housing
Home must be 20 years or older
Home Purchase and rehabilitation
Home Refinance and rehabilitation (must have
been in home 1 year)
GENERAL PROGRAM
REQUIREMENTS
• Term - 30 years
• Income Limit
• Interest Rate – 3.875% Fixed Rate
– $81,000 for all family sizes in all counties
• Purchase Price Limit
– Purchase and Rehab - $145,000 or less - Price of Home
plus rehab for all counties cannot exceed $250,000
– Refinance and rehab – Refinancing of existing
mortgages and Rehab cannot exceed $250,000 for all
counties
GENERAL PROGRAM
REQUIREMENTS
• Purchase Price Limit -- costs include
– Purchase/rehab-- purchase price, rehab expenditures,
contingency reserve, payment reserve, all financing and
other fees necessary to the rehabilitation
– Refinancing/rehab -- refinance of all outstanding loans,
rehab expenditures, contingency reserve, payment reserve,
all financing and other fees necessary to the rehabilitation
GENERAL PROGRAM
REQUIREMENTS
• One unit, single family owner occupied
• Does not have to be first time homebuyer
• Recapture will not apply to Spruce Up II
GENERAL PROGRAM
REQUIREMENTS
• Rehabilitation Requirement
– Minimum rehab cost - $15,000
– 5 systems must be certified to be in good working
order
• roof including gutters and downspouts
• heating system
• electrical system
• Foundation/structure
• plumbing - hot water heater and well and septic, if
applicable
GENERAL PROGRAM
REQUIREMENTS
• Rehabilitation Requirement
– After these five systems have been addressed then
other items may be included in rehab - insulation,
windows, doors, concrete sidewalks, driveways,
decks, fencing, room additions, addition of garage,
painting, flooring, updating of kitchens, bathrooms,
landscaping, sprinkler systems
– Rehab may not include - hot tubs, steam rooms,
swimming pools, barns, outbuildings, etc.
GENERAL PROGRAM
REQUIREMENTS
• Eligible Properties
– Single family detached
– Manufactured homes on a permanent
foundation
• may not be used to place a new or existing
manufactured home on a permanent
foundation
SPIRIT! OF WYOMING
HOMEOWNERSHIP INITIATIVE
•
•
•
•
•
•
FHA, VA, and RD Loans
Purchase only – no refinances
Has special Rider to Mortgage
Has special Mortgagor’s Affidavit of Eligibility
Don’t have to be a first time homebuyer
Has special Proof of Military/Occupational Status to
qualify
• Recapture does not apply
• Uses the Single Family Purchase Price and Income
requirements to qualify
Spirit Required
Documents
Checklist
Spirit Handout
New Interest
Rate is
2.875%*
Spirit
Rider
Spirit Affidavit of
Eligibility
Page 1
Spirit Affidavit
of Eligibility
Page 2
Spirit Affidavit
of Eligibility
Page 3
Spirit Affidavit
of Eligibility
Page 4
Down Payment
Checklist
DOWN PAYMENT LOAN PROGRAM
• Used for down payment assistance and
closing costs only
• Finance up to $10,000 • 2nd Mortgage
• Interest Rate – 4.5%
DOWN PAYMENT LOAN PROGRAM
• WCDA is in the process of developing procedural
changes for both our Down Payment Loan and the
Home Buyer Assistance Loan in response to HUD’s
recent announcement:
• “On December 5, 2012, HUD published in the
Federal Register a November 29, 2012 interpretive
rule on prohibited sources of the minimum cash
investment requirement under the National
Housing Act. (See Memo 2013-13)
DOWN PAYMENT LOAN PROGRAM
• Term 1-96 months
• $25.00 minimum monthly payment
• 2nd when combined with 1st may not exceed 100%
appraised value plus allowable closing costs, and no
greater than 106% (WCDA overlay)
• Lenders must follow Mortgage Insurers guidelines if
stricter than WCDA’s for qualifying borrowers for 2nd
DOWN PAYMENT LOAN PROGRAM
• Required Borrower Contribution – $1,500 plus
anything additional required by the mortgage
insurer
• This cash contribution is only a requirement if they
are using a WCDA DP Loan, otherwise the mortgage
insurer determines the cash requirement
• Minimum credit score of 620
• Maximum Total Debt to Income of 41%
• Payment must be included in front end ratio
• No cash back
WCDA Down
Payment Note
Page 1
WCDA Down
Payment Note
Page 2
WCDA Down
Payment Note
Page 3
Down Payment
Loan Mortgage
Page 1
Down Payment
Loan Mortgage
Page 2
Down Payment
Loan Mortgage
Page 3
Down Payment
Loan Mortgage
Page 4
Down Payment
Loan Mortgage
Page 5
Down Payment
Loan Mortgage
Page 6
Down Payment
Loan Mortgage
Page 7
Notary*
DOWN PAYMENT LOAN PROGRAM
EXAMPLE
EXAMPLE #1
• A couple finds a home for $155,000.00 and would like to
qualify for a WCDA 1st and a 2nd mortgage to help with
their down payment and closing costs. What would be
the amount the couple needs to have in cash to qualify
for the WCDA 2nd:
1) $1500.00
2) $750.00 or the equivalent of 3 items.
3) $3100.00
DOWN PAYMENT LOAN PROGRAM
ANSWER
• $1500.00 for WCDA
( Remember that this can be plus anything
additional required by the mortgage insurer in
reference to closing costs. )
DOWN PAYMENT LOAN PROGRAM
EXAMPLE
EXAMPLE #2
• A single woman finds a home for $75,000.00, puts $500.00
down earnest money deposit and wants the seller to pay
all closing costs except the 3-1/2% FHA down payment.
What will borrower have to come to closing with if she
wants to use WCDA’s 2nd for the 3-1/2% FHA down as
long as the Seller’s concessions are 3% or less?
1) Nothing
2) $1,500.00
3) $1,000.00
DOWN PAYMENT LOAN PROGRAM
ANSWER
• $1,000 – The borrower put $500.00 upfront and
would need $1,000.00 at closing to make the
$1,500.00 required
DOWN PAYMENT LOAN
PROGRAM EXAMPLE
EXAMPLE #3
• A couple finds a home for $145,000 and they are
going to use WCDA. The seller is paying for all
closing costs and borrowers need no 2nd loan
from WCDA. What would they need to bring to
closing for WCDA?
1) Nothing
2) $1500.00
3) $2900.00
DOWN PAYMENT LOAN PROGRAM
ANSWER
• Nothing, WCDA only has $1,500.00 requirement if
borrower is using our second mortgage. If they are
not using the second, Lender follows the mortgage
insurer’s guidelines, but WCDA has no requirements
for amount of cash from borrower when the
borrower isn’t using WCDA’s Down Payment
Programs.
HOMEBUYER ASSISTANCE
PROGRAM
• Maximum Loan - $2000
• Income Limits by family size/county – lower than
standard program
• Borrower must demonstrate a need
• Limited Funding
• $500 Borrower Cash Contribution
• Purchase Price Limit of $135,000
• Required to take both On Line Homebuyer
Education class and the One-on-One class.
• Required 620 credit score
• 41% Total debt to income ratio
HOMEBUYER ASSISTANCE
PROGRAM
• Deferred Loan
– Must be paid back at the transfer of the home
plus 3% interest.
– If the WCDA 1st mortgage is refinanced before
30 years then the HBA loan must be paid in
full.
– If the homeowner lives in the home for 30
years without selling , the HBA loan is
forgiven
Homebuyer
Assistance
Checklist
Homebuyer Assistance Income Limits
Homebuyer
Assistance Note
Homebuyer
Assistance Loan
Mortgage
Page 1
Homebuyer
Assistance Loan
Mortgage
Page 2
Homebuyer
Assistance Loan
Mortgage
Page 3
Notary*
OTHER WCDA FORMS
Mortgage Purchasing
Servicing Transfer
Information
MPP 200-A
Rev (05-2012)
Tax Exempt
Financing Rider
Standard
Programs Only
Affidavit of Seller
Page 1
This form is
under total
reconstruction
Affidavit of
Seller
Page 2
Revised
(04-2012)
New notary*
SELLER’S AFFIDAVIT
• If the property is being sold through a foreclosure
action, the business receiving property will
generally refuse signing; this is ok with WCDA.
• Because we are reconstructing this form, we will
send out update on signature requirements
once it is complete and updated in Lender on
Line
Exhibit IX
Allowable
Buyer Closing
Costs
Rev. (01/2013)
Notice to
Cosigner
(must have
signed at
closing)
Sample First
Payment Letter
OTHER WCDA HOMEBUYER
MORTGAGE PROGRAMS
• WES – Wyoming Energy Savers
• Home Again Loan Program
WYOMING ENERGY SAVERS
•
•
•
•
•
•
Loans to help improve “energy-efficiency” in existing homes
Can be used for new energy star rated furnaces, insulation, weather
stripping, programmable thermostats, exterior storm windows and
exterior doors (including storm doors and patio doors)
Programmable Thermostats
Exterior storm windows and doors
Hot water heater, energy star rated, blanket, and or pipe wrappings
There are 2 types of loans – deferred, which has a 3% simple interest due
and payable upon transfer or sale of property and amortized, which has
a 4% per annum for a term of 1-180 months, depending on borrowers
income
WYOMING ENERGY SAVERS
• As of January 22, 2013, we are adding Health and
Safety Repairs to the eligible repairs that can be
funded through the WES program.
• Any Health and Safety repairs must be explained in
detail and submitted to WCDA for prior approval.
• The WCDA Construction Management Department
will schedule an appointment to determine if
requested repairs mitigate a health and safety issue.
(See Memo 2013-02)
WYOMING ENERGY SAVERS
• Maximum rehabilitation loan limit is $15000.00,
minimum loan limit is $1,000.00
• Borrowers apply at a WES participating Lender
• No appraisal required
• No credit checks required
• Must be current on existing mortgage loan,
including current on their taxes and
homeowners insurance premiums
• Borrowers must be low income (see handouts in
packet for income requirements)
Wyoming
Energy Savers
Handout
Wyoming
Energy Savers
Handout
Backside
Wyoming
Energy Savers
Checklist
E DOCS FILE SUBMISSION
• We have several screen shots of the LOL system
which will help you to understand the upload
process
• The first step is to go to your loan in Lender on Line
• Click on the eDocs Icon (left side of screen)
E DOCS FILE SUBMISSION
• The next screen will show a choice of first or
second mortgage.
• Next Screen, click on “Add New”
• Press the “Click here” button
• A web browser window will open for you to find
your file.
E DOCS FILE SUBMISSION
• Click on the appropriate file in your web browser
• The file will then show as loaded with a choice of
buttons reading Upload or Cancel
• Once the file is loaded, please give it a name, such
as loan number and name
E DOCS FILE SUBMISSION
• If you are uploading your first mortgage file in
increments, entitle each section as part 1, part 2,
Appraisal, etc
• At this point, do not forget to save
• Once your file is complete, you will receive a
message that your upload was successful.
• **The final step is to hit “submit”.
E DOCS FILE SUBMISSION
• The screen shots are on Lender on Line under
Program Documents; they are the last item on the
list.
• Mail the original note, escrow check, copy of 200-a
and checklist to our office by secured mail.
E DOCS FILE SUBMISSION
• The only other original documents we need mailed
are the original recorded mortgage, recorded
Assignment and final Title Policy.
• All other documents are to be uploaded as follow
up documents, there is a special area for follow up,
see screen shots.
AFTER THE LOAN CLOSES
• Transferring ownership is not allowed without prior
written approval from WCDA
– Do not Quit Claim a WCDA financed property
after closing.
• Other post closing actions that are usually not
allowed. These would require both WCDA and
Mortgage Insurer’s approval:
– Cannot add someone to the Title without
WCDA approval
AFTER THE LOAN CLOSES
– Cannot drop someone from the loan, all
borrowers are liable for the debt unless they
have been formally released by WCDA.
– Partial release of mortgage after loan is closed is
difficult to accomplish and may not be approved
by mortgage insurer or WCDA.
– Additional land added to loan after loan is closed
will probably not be approved.
MISCELLANEOUS ISSUES
• Hazard/Homeowner’s Insurance
– $1000 deductible for all perils including wind and hail
– HAVE HOMEBUYERS CONTACT INSURANCE AGENTS TO
CHECK ON DISCOUNTS FOR IMPACT RESISTANCE ROOFING
AND OTHER ENERGY EFFICIENT ITEMS
– Sewer backup endorsement is highly recommended
– WCDA allows replacement coverage as follows:
100% of the full insurable value of the improvements as established
by the property insurer: REFER TO MORTGAGORS AFFIDAVIT,
PARAGRAPH 22, FOR FULL EXPLANATION
QUESTIONS????
Wyoming Community Development Authority
155 North Beech Street
Casper, WY 82601
307-265-0603
[email protected]
www.wyomingcda.com
Wyoming Housing Network
•
•
•
501(c) 3 non-profit organization
Homebuyer Education
– HUD Certified Housing Counseling Agency
– WHN is a partner with WCDA and other lenders to educate and
coach homebuyers
– WHN has educated over 3,000 clients since 2009
– WHN has been recognized by NeighborWorks America® as the #1
producer of homebuyer education out of 240 organizations in
2009 and 2010
Real Estate
– Housing Preservation
– New Construction
A Well-Informed Homebuyer Becomes A
Successful Homeowner!
• WHN’s high-quality homebuyer education and
coaching make a difference in successful
homeownership.
• WHN provides the borrower with the additional
information and resources necessary to make
informed decisions that ultimately lead to longterm sustainability.
Why Does WCDA Requires
Homebuyer Education?
The targeted outcome of homebuyer education and coaching is
homeownership sustainability.
• homebuyers are less likely to become delinquent or default on
their mortgages payments, and/or are better able to recover
from a delinquency or default and avoid foreclosure
• homebuyers that receive coaching and education will be better
equipped to make financially sound decisions
WCDA loan delinquency (120+ days) at 1.5% as of December 31,
2011
Buyer Benefits
•
•
•
•
•
Understands step-by-step home buying process
Knows how much home is affordable
Budgets to build a stable financial foundation
Increased confidence about home ownership
Prepared for challenges of home ownership
Lender Benefits
Save Time!
• Many first-time homebuyer questions have been
answered. Lenders report an average of 10 hours
less per customer that has completed homebuyer
education and coaching
• Online education available 24/7 and prompt
delivery of the one-on-one session. WHN helps
homeowners quickly and efficiently to prepare for
closing
In order for customers to get a WCDA loan, they must
complete both the on-line class and the one-on-one
coaching session before they close on the WCDA loan.
The sooner the better… First Things First!
HBE Process
1. Customer takes Homebuyer Education
a) www.whninc.org
b) They follow the link to Homebuyer
Education Online course
c) The link will direct customer to eHome
America
d) Once completed the client can print the
certificate and provide it to the lender
www.whninc.org
eHome America: Online Education
• Online course designed to take
approximately 8 hours
• Videos and text throughout adhere
to different learning styles
• Tests and quizzes gauge learning
• Client can start and stop at any time
• Client can print certificate when
completed
Part 1: Are You Ready To Buy a Home
Part 2: Managing Your Money
Part 3: Understanding Credit
Part 4: Getting a mortgage loan
Part 5: Shopping for a home
Part 6: Keeping your home and
managing your finances introduction
Part 7: WCDA
HBE Process
2. Complete 1-1 Coaching Session
a) Retrieve 1-1 packet from the last page of eHome
America, www.whninc.org, or in an email WHN sends
when customer registers
and completes eHome
America.
b) Complete packet
c) Schedule an appointment
call 307-472-5843 or set up appointment online @
www.whninc.org evening appointments available
One-on-One Coaching Session
• With the coaching of WHN's accredited
homeownership counselor (NCHEC) and certified
credit consultants (NACCC), customers will identify
future financial plans and set realistic goals to
achieve their financial aspirations
• One-on-one appointment is a long-term benefit to
your customer’s household balance sheet
Comments from Participants:
•
“Very informative and covered material I had not thought about as a first time
homebuyer.” –Mark
•
“I would recommend this course for all homebuyers, however I would strongly
suggest taking it before going under contract with a house & realtor. Thank you
so much. . .I only wish I had signed up for this course a long time ago. “ – Tom
•
“Excellent course! Just wish I would have taken it a lot sooner, I close on my
house in two days!” – Denise
•
“This is an excellent way to prepare people for the whole house buying process.
It was presented in a very easy to understand way and helped me to be prepared
for purchasing my own home.” – Mary
Coaching Statistics
• 99% of respondents felt they are more knowledgeable
about buying a home
• 98% felt they understand their finances better
• 98% felt that the counseling will make them a stronger
homebuyer
• 98% rated WHN's counseling quality as being "Very
Good" or "Excellent"
• 97% were "Likely" or "Certain" to recommend WHN's
services to others
Wyoming Housing Network, Inc.
300 S. Wolcott, Suite 200
Casper, WY 82601
(307)472-5843
www.whninc.org
Colleen McKoy
Educational Programs Director
[email protected]
Katrina Ferrell
Homeownership Counselor
[email protected]