RFA 9305 FLEX Lending Program

The Oregon Housing and Community Services Department (OHCS) issued Request for Applications (RFA) 9305 to establish the FLEX Lending Program, which aims to increase homeownership access for Oregonians, particularly low to moderate income families, through a lending framework not limited by tax-exempt bond constraints. The agency seeks to identify a pool of up to 100 approved mortgage lenders to originate, underwrite, and deliver mortgages to OHCS or its approved servicers. Selected lenders will enter into agreements with potential terms of up to 10 years and must adhere to guidelines set by Government Sponsored Entities (GSEs) such as Fannie Mae, Freddie Mac, and Ginnie Mae, as well as FIRREA appraisal standards. To be eligible, applicants must maintain a public office in Oregon or within 50 miles of the state border, and owners with more than 10 percent ownership must possess at least five years of industry experience. Lenders must be approved to originate or underwrite with appropriate GSEs and be delegated to underwrite private mortgage insurance. Applications are evaluated on a pass/fail basis and require a non-refundable application fee of 1,500 dollars, with an annual renewal fee of 1,000 dollars. The submission process requires a comprehensive application package, including certifications for the Bank Secrecy Act, Anti-Money Laundering, and tax compliance, submitted electronically in PDF format.