by Rob Chrane, CEO, Down Payment Resource
We’re closely monitoring the impact of today’s unprecedented environment on Down Payment Assistance (DPA) programs and first-time homebuyers. Lenders are managing extreme refinance demand and volatility in the MBS market. Homeownership program providers are not only taking expected precautions, but also reacting to the same MBS volatility that in some cases is impacting the funding of certain program types.
Fortunately, there are many programs and funding mechanisms. The impact so far has been limited, but the situation remains fluid. keep reading