First Housing: Servicing
Manage the Process with Intelligence and Ease
Mortgage Banking is just the beginning of First Housing’s capabilities. We also help lenders and investors make sound decisions by providing Credit Underwriting and Financial Analysis, Loan Servicing and Administration, and Davis-Bacon/Section 3 Servicing and Training.
Credit Underwriting and Financial Analysis
First Housing advises housing finance agencies and other governmental lenders to facilitate sound financial decisions. We provide credit underwriting and financial analysis under state and federal government programs such as:
State Apartment Incentive Loan (SAIL)
Multifamily Tax-Exempt Housing Revenue Bond (MMRB)
State Housing Initiatives Partnership (SHIP)
HOME Investment Partnership (HOME) Program
Federal Low Income Housing Tax Credit (HC) program
Community Development Block Grant (CDBG) Program
Loan Servicing and Administration
When it comes to servicing and administering real estate financing, there is simply no substitute for experience. Adhering to standard practices is only part of our expertise. After years of mortgage loan administration for federal, state and local government agencies, we understand fully how to meet each agency’s needs, as well as each investor’s return objective. In addition, First Housing has been performing construction loan servicing under a number of programs for over 40 years. We perform draw request analysis and approval of disbursements, as well as retain and monitor third-party firms to inspect the developments during the construction period.
Davis-Bacon Servicing and Training
Dealing with federally-funded projects can become an overwhelming task. First Housing uses its expertise and proven ability to alleviate the burden by putting our Davis-Bacon specialists to work for you. We are committed from start to finish of the project because we understand what it takes to meet each Agency’s needs and keep each project on track.
First Housing provides:
Davis-Bacon and Section 3 Compliance Monitoring and Administration
Davis-Bacon Payroll Review & Payroll Administration
Monthly On-Site Employee Interviews
Monthly On-Site Inspections
Corroboration with DOL and HUD
In-House Training and Seminars
Our Servicing Team
Senior Vice President
Ed Busansky has been working in the Affordable Housing Finance industry since 2002, with over 25 years of prior experience in Multifamily Lending. Prior to joining First Housing, he worked at Bank of America in the Community Development Group.
Senior Vice President
Tricia L. Gallagher, Senior Vice President of Loan Administration, is a multi-lingual, solution-oriented professional with experience and proven ability in the areas of law, real estate, banking, insurance, import/export and consumer/commercial liabilities since 2001.
Assistant Vice President
Joann Lundquist has been with First Housing since 2001 and has extensive knowledge of the FICS Servicing Software. She manages GNMA, State of Florida, USDA and various other agencies' reporting requirements.