SELLING LOANS TO NHSA

NHSA purchases loans from NeighborWorks® organizations to expand their lending capital resources.

Recourse Loans

NHSA purchases, with recourse, loans that have been originated by, or assigned to, a NeighborWorks organization.

Recourse loans can be used for purchase, rehabilitation, closing costs, and down payment assistance. When loans are sold to NHSA with recourse, the NeighborWorks organization must repurchase or substitute a performing loan when a loan becomes 90 days delinquent. The NeighborWorks organization must also maintain a reserve account sufficient to maintain level payments of the loans sold to NHSA. NHSA does not purchase delinquent, deferred or non-amortizing loans.

Non-Recourse Loans

NHSA purchases first mortgage loans (non-recourse) that are underwritten and approved either directly through NHSA or through NHSA's nonprofit subsidiary, Just Price Solutions.

Resources

Recourse Loans

Non-Recourse Loans