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OHCS asks committee to codify 'flex lending' authority used for new homeownership products
Summary
House Bill 3035 would codify Oregon Housing and Community Services’ flex lending (to-be-named 'Lehi Lending') authority used for recent homeownership products; OHCS said codification follows DOJ recommendation and aligns definitions with federal guidance for unit counts.
The House Committee on Housing and Homelessness heard Feb. 5 testimony on House Bill 3035, which would place Oregon Housing and Community Services’ flex lending authority into statute and add clarifications to definitions used in OHCS lending programs.
Nathan Clark, legislative coordinator, and Scott Shaw, assistant director of homeownership lending at OHCS, explained flex lending and the agency’s Next Step and First Home products. Shaw said flex lending provides OHCS greater flexibility…
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