Lenders keep asking to join turnkey-plus and MCC programs despite limited funds
Staff reported continuing lender inquiries about the turnkey-plus and MCC programs, noting lack of funds for rate buy-downs will likely slow but not stop interest; staff will circulate rate stacks for comparison.
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The Executive Director told the board the authority is continuing to receive inquiries from lenders who want to participate in the turnkey-plus program or the MCC program despite the lack of funds to support rate buy-downs. "So I think a slightly higher rate will slow the program down, but it won't bring it to a stop," the Executive Director said, and he said staff will send a daily rate stack so the board can compare proposed rates to par rates.
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