Finance

The Federal Reserve Board has announced that borrowers who think they may have been financially harmed in the mortgage foreclosure process in 2009 and 2010 can now request an independent review and potentially receive compensation. Servicers are required to compensate borrowers for financial injury resulting from deficiencies in their foreclosure processes. Below is a list of participating servicers.

We are pleased to announce new lower mortgage interest rates for Vermonters purchasing homes through VHFA's mortgage programs.   As of Friday, September 30, 2011, the new interest rates are:

VHFA lowered its home mortgage loan interest rates today to the lowest point in agency history.   As of Friday, August 12, 2011 the new rates are:

3.875% with 0 points for our government program

4.00% with .25 point  for our conventional MOVE program (4.012% APR with points)

VHFA lowered our home mortgage loan interest rates today.

Our Government program — 30-year, 0 point, fixed rate — is 4.50% (4.50% APR).

Our Conventional program — 30-year, 0.25 point, fixed rate — is 4.625% (4.647% APR).

Standard & Poor's Ratings Services raised its rating on VHFA's multifamily mortgage bonds  from 'BBB+' back to ‘A+’.   

"The upgrade is based on recent legislative changes that resulted in these bonds conforming with our moral obligation criteria," said Standard & Poor's credit analyst Henry Henderson. 

VHFA has two exciting job openings for a Director of Bond Financing and Investments and a Controller.

Read the job descriptions on our Web site and apply by July 29.

KPMG has completed VHFA's A-133 audit, and the Agency passed with flying colors.

KPMG's report on compliance for VHFA's major programs was "unqualified" — a positive reflection on the Agency — and it found no material weaknesses or deficiencies in VHFA's internal controls.

Furthermore, there were no findings or questioned costs related to VHFA's federal awards.

Moody's Investors Services has assigned an 'Aaa' rating to VHFA's $6.71 million 2009 Series B multifamily bonds.

The rating indicates Moody's has determined the bonds are the highest quality with the smallest degree of risk.

The Agency is converting approximately $6.71 million of 2009 Series A bonds and re-designating it as 2009 Series B.

VHFA has passed a major milestone: The Agency has issued more than $3 billion in bonds to finance homeownership and rental opportunities for low- and moderate-income Vermonters.

Over its nearly-37-year history, VHFA has put that money to use helping approximately 27,000 Vermont households to buy a home and financing the development of approximately 8,400 affordable rental units.

VHFA is soliciting proposals from independent, nationally- or regionally-recognized public accounting firms for the purpose of auditing its financial statements beginning with the fiscal year ending June 30, 2011.

All details are available online.