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How to Become a Lender
How to Become a Lender

NSHP Funds have been exhausted.

The program has been suspended until further notice. 

How were the Approved Lenders selected for the NSHP Program?

The Economic Development Agency published a Request for Qualification (RFQ) for qualified lenders. The RFQ was published in a newspaper of general circulation, and invitations were mailed to lenders who have an interest to participate in the homebuyer assistance programs administered by EDA. All lenders were invited to submit materials detailing their qualifications for the programs. All submittals that were received prior to the deadline were evaluated and ranked according to the criteria in the RFQ. Lenders that demonstrated in their submittals that they met all the program requirements were selected as participating lenders.

Lender Participation Agreement [DOC- 130KB]

Add on Exhibit A

Participating Lenders

Requirement

The County will only accept NSHP Applications from approved Participating Lenders who have entered into a Lender Participation Agreement with the County for this Program.

Selection

The County shall establish minimum criteria for the selection of participating lenders for the NSHP Program. All selected lenders shall enter into a lender participation agreement with the County and shall agree to abide by the County’s procedures for all borrowers participating in the NSHP Program. The minimum lender criteria for the NSHP Program are as follows:

  1. Participating lenders be direct lenders with the ability to originate and service loans. Loan brokers are not eligible for approval as a participating lender.
  2. Participating lenders are encouraged to provide staff personnel with the ability to communicate in Spanish.
  3. Participating lenders shall provide application assistance with minimal inconvenience to the borrower.
  4. Participating lenders shall demonstrate a commitment to Community Reinvestment Act (CRA) and affirmative marketing requirements, and outreach to minority and low income communities. Lenders shall agree to proactively market the Program to low income and minority people. All advertising to the general public shall be complimented with advertising targeted to these groups, including, but not limited to, minority newspaper, television and radio advertisements. The County will monitor all marketing efforts and will require periodic updates on the marketing efforts of participating lenders.
  5. Participating lenders shall have demonstrable experience in first time home buyer program.
  6. The selection of participating lenders shall be at the sole discretion of the County of Riverside. The County reserves the right to limit the number of approved participating lenders.

Neighborhood Stabilization Homeownership Program (NSHP)Approved Lender List [PDF- 350KB]

NSHP Funds have been exhausted.

The program has been suspended until further notice. 

How were the Approved Lenders selected for the NSHP Program?

The Economic Development Agency published a Request for Qualification (RFQ) for qualified lenders. The RFQ was published in a newspaper of general circulation, and invitations were mailed to lenders who have an interest to participate in the homebuyer assistance programs administered by EDA. All lenders were invited to submit materials detailing their qualifications for the programs. All submittals that were received prior to the deadline were evaluated and ranked according to the criteria in the RFQ. Lenders that demonstrated in their submittals that they met all the program requirements were selected as participating lenders.

Lender Participation Agreement [DOC- 130KB]

Add on Exhibit A

Participating Lenders

Requirement

The County will only accept NSHP Applications from approved Participating Lenders who have entered into a Lender Participation Agreement with the County for this Program.

Selection

The County shall establish minimum criteria for the selection of participating lenders for the NSHP Program. All selected lenders shall enter into a lender participation agreement with the County and shall agree to abide by the County’s procedures for all borrowers participating in the NSHP Program. The minimum lender criteria for the NSHP Program are as follows:

  1. Participating lenders be direct lenders with the ability to originate and service loans. Loan brokers are not eligible for approval as a participating lender.
  2. Participating lenders are encouraged to provide staff personnel with the ability to communicate in Spanish.
  3. Participating lenders shall provide application assistance with minimal inconvenience to the borrower.
  4. Participating lenders shall demonstrate a commitment to Community Reinvestment Act (CRA) and affirmative marketing requirements, and outreach to minority and low income communities. Lenders shall agree to proactively market the Program to low income and minority people. All advertising to the general public shall be complimented with advertising targeted to these groups, including, but not limited to, minority newspaper, television and radio advertisements. The County will monitor all marketing efforts and will require periodic updates on the marketing efforts of participating lenders.
  5. Participating lenders shall have demonstrable experience in first time home buyer program.
  6. The selection of participating lenders shall be at the sole discretion of the County of Riverside. The County reserves the right to limit the number of approved participating lenders.

Neighborhood Stabilization Homeownership Program (NSHP)Approved Lender List [PDF- 350KB]

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