Mortgage Investors Group Grabs THDA Top Lender Spot 10th Year in a Row!

From the THDA Newsletter:

NASHVILLE, February 15, 2013 - For the tenth consecutive year, Knoxville-based Mortgage Investors Group is the top originator of Tennessee Housing Development Agency's first-time homebuyer loans.

"It's dedicated partners like MIG who work to introduce the THDA program to buyers," said Ralph Perrey, THDA executive director. "We appreciate how hard they work to research the best program for each consumer."

Established in 1989, Mortgage Investors Group (MIG) has been a key a partner in Tennessee Housing Development Agency's (THDA) goal of providing all Tennesseans with access to safe, sound, affordable housing opportunities. Over the last 10 years, MIG submitted 4,579 applications for a value of $ 446,560,896. The next most-active THDA lender secured 2,283 applications over that same timeframe.

A total of 2,102 loan applications from households of low- to moderate-income were originated by lenders across Tennessee for the 2012 calendar year. MIG's staff submitted 333 applications in 2012 for a total value of $33,429,536. The second most-active lender for 2012 was First Community Mortgage with 195 applications and $23,482,920 in value.

"We are thrilled to be THDA's Top Lender for a record 10th straight year," said Jesse A. Lehn, Executive Vice President, MIG. "Our relationship has grown stronger with each year and will continue into the future. MIG's core focus is putting homebuyers into the right program and there is no better program for first-time homebuyers than THDA."

THDA is a political subdivision of the State of Tennessee, established in 1973. THDA is the State's housing finance agency, responsible for selling tax exempt mortgage revenue bonds to offer affordable mortgage funds to homebuyers of low and moderate incomes through local lenders, and to administer various housing programs targeted to households of very low-, low- and moderate-incomes.

THDA made its first mortgage in 1974. It has provided affordable fixed rate mortgages to over 107,000 households without using state tax dollars. The total contribution of the THDA-related activities to Tennessee's economy in 2011 is estimated at $728.6 million.

THDA issues between $250 and $300 million in mortgage revenue bonds annually for its first-time homebuyer program.

THDA created the Tennessee Housing Trust Fund in 2006, using state, THDA and locally-generated match to support programs for households of very-low income, elderly and special needs populations.

More information about THDA is available on-line at http://www.thda.org