Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

What is the benefit of the Finally Home program to my financial institution?

April 26, 2017benefit financial institution Home program

0

Posted

What is the benefit of the Finally Home program to my financial institution?

1 Answer

0

Posted

There are a number of benefits to participation in the Finally Home program. Finally Home allows you to close a higher volume of mortgage loans. The program provides your institution with a free five-year 10 percent guarantee on loans that, but for the guarantee, you would otherwise have to reject. Participation also counts toward helping your institution meet its CRA goals.