How Your Company Can Offer PHFA Loans

Become a participating lender
Become an approved third party originator (broker)

To be eligible as a participating lender, the company must be one of the following:

A properly licensed and legally organized bank, savings and loan, or credit union whose deposits are insured by the Federal Deposit Insurance Corporation (FDIC) or the National Credit Union Administration (NCUA);
OR
A currently licensed Pennsylvania First Mortgage Banker.

If your company meets at least one of the above criteria and would like to make an application to become a participating lender, please complete and submit the following documents to PHFA, Homeownership Programs, 211 North Front Street, P.O. Box 8029, Harrisburg, Pennsylvania 17105-8029.

  1. Application
  2. Master Origination and Sale Agreement
  3. Opinion of Counsel (to be executed on your attorney's letterhead)
  4. List of Authorized Officers
  5. A certificate of insurance for your Fidelity Bond, and Errors and Omissions coverage, listing PHFA as a certificate holder AND your organizations most recent audited financial statement or annual report and, if older than six months, the most recent un-audited interim financial statement. If you are a subsidiary of another company or part of a holding company, please submit the same financial information for that organization, as well.
    OR
    A certificate of insurance for your Fidelity Bond, and Errors and Omissions coverage, listing PHFA as a certificate holder AND evidence that your organization is approved by Fannie Mae and/or Freddie Mac as a seller/servicer of one-to-four family first mortgages.
  6. Bailee Agreement – Required for participating lenders who want PHFA to fund a warehouse lender. Please note that only one warehouse lender per participating lender can be accommodated.

Once your application is approved, the final step would be for your organization to complete our training program, which we would conduct in person at your site.

To become approved as a third party originator (broker) of PHFA loans, the company must be:

  • A currently licensed Pennsylvania First Mortgage Broker or Loan Correspondent.

If the company meets the criteria above, take the following steps to become an approved originator/broker:

  1. Request and receive sponsorship from a current PHFA participating lender.
  2. Complete the application and submit it to PHFA, Homeownership Programs, 211 North Front Street, P.O. Box 8029, Harrisburg, Pennsylvania 17105-8029.
  3. Execute the PHFA agreement, which is also executed by the lender. The agreement is supplied to the lender by PHFA upon confirmation of the sponsorship.
  4. Complete an in-person PHFA training program. Follow this link to see if there are any sessions scheduled for your area. You may also call the Homeownership Programs Department at 717.780.3871 to inquire about upcoming training opportunities.

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