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Program Restructuring: Effective January 1, 2010
Release Date:October 19th, 2009
With greater demands placed upon our capital and capacities, FP is compelled to implement changes of services provided in order to become more sustainable through fluctuating economic conditions.    
 
Funding Partners continues to deliver critical financial services through the current economic cycle and values the strong relationships nurtured over the years.  We truly understand that any claims of success on our part can only be substantiated by your assessment of the value recognized within your own community.  While there is great pride taken by the progress, we also accept that much work remains.
 
Effective January 1, 2010, the following changes will be implemented:
  • House to Home Ownership (H2O) loan activity will be suspended until further notice.  Will all available capital resources for this program deployed, FP will no longer be able to honor funding requests under this program until such time sufficient numbers of outstanding loans are repaid.  Residential purchase assistance programs funded through dedicated sources will not be impacted by this moratorium. 
  • Wire Convenience Fee will be assessed.  All clients currently invoiced in arrears for loan originations funded by FP during the billing period will see a $25 convenience fee to compensate for costs associated with electronic delivery of loan proceeds at closing.  Partners may avoid this fee by establishing a proceeds holding account from which funds to close are drawn (“pre-funding”).  Investor clients with program funds on deposit are not affected by this policy.
  • Technical Assistance Fee will be implemented.  New contract loan clients will be assessed a one-time fee of $2,500 due at time of contract execution to compensate for program development and initial implementation.  Clients with service contracts in force as of January 1, 2010 are not impacted by this policy.  
 
Contact Information:
Megan Gifford
Marketing & Communications Coordinator
Funding Partners for Housing Solutions
214 S. College Ave, Second Floor
Fort Collins, Colorado 80524