Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Housing Finance Agency reports jump in loan purchases, asks for servicing staff as portfolio grows
Summary
Dave Flor and staff told the House Appropriations Government Operations section that the North Dakota Housing Finance Agency purchased roughly $480 million in mortgage loans last year and now services a growing portfolio that is heavily FHA‑insured; the agency asked for two additional FTEs to handle servicing and bond accounting work.
Dave Flor, executive director of the North Dakota Housing Finance Agency, told the committee that the agency is self‑funded (aside from two grant lines noted in testimony) and uses mortgage revenue bonds to buy loans from participating lenders statewide. He said the HFA purchased about $480 million in loans and roughly 2,000 loans in the prior year, and that the agency annually purchases about 20 percent of home loans originated in North Dakota.
Brandon Delof, the agency’s homeownership division director, explained that mortgage revenue bonds allow the agency to offer interest rates typically 25 to 50 basis points below market; he told the committee the agency’s loans save borrowers an estimated $180 a month on…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
