One of the most common questions we answer here is, “What does my lender need from me?”
Homebuyers want to make sure they provide everything the lenders need in order to quality them for home purchases.
At the South Dakota Housing Development Authority (SDHDA), we strive to ensure a successful homebuying experience by assisting South Dakota residents with every aspect of the homebuying process, from choosing a neighborhood to affording a mortgage.
However, there is another equally important population that we help: lenders.
Getting with the Program
Experienced South Dakota lenders understand the importance of SDHDA’s programs, such as the First-Time and Repeat Homebuyer programs. But they may not realize how often important changes to these programs occur. To that end, we encourage all our lending partners to attend lending training with SDHDA.
“Lender training gives SDHDA staff a chance to meet face to face with lenders, hearing their one-on-one concerns,” according to SDHDA Director of Home Ownership Programs Brent Adney. “From the lenders’ standpoint, the more originators, processors and closers that are equipped to work with SDHDA programs, the better they can serve their customers.”
The Key to Continued Education
Lending training addresses the needs of both beginning and experienced lenders by discussing the ways in which to provide affordable financing options to borrowers. We strive to specifically investigate areas of the programs in which lenders are having difficulties.
Lenders can expect to learn about:
- The growing mission of SDHDA
- Changes in program policy
- Shifts in federal regulation and policy
- The effects these changes will have on your day-to-day operations
Our Spring Training
The SDHDA First-Time Homebuyer, Repeat Homebuyer, Downpayment Assistance and Mortgage Credit Certificate (MCC) program staff will lead this year’s lending training. As a special guest, we have invited an employee of SDHDA’s Master Servicer, Mark Suderman, to share hints about what the servicer looks for in a file prior to purchase.
These trainings will take place on April 19th in Rapid City, as well as in Sioux Falls on April 21st and 22nd.