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April 10, 2003

HomeSight

The state Department of Financial Institutions issued a mortgage broker's license to HomeSight, making the Seattle-based affordable housing developer one of the few non-profits nationally to hold the distinction. The license allows HomeSight to originate mortgages and help home buyers obtain mortgages. HomeSight executive director Dorothy Lengyel said it makes HomeSight "a full-service source for affordable housing in Central Puget Sound, and potentially throughout the state. We will now build homes, sell homes, loan money for purchasing homes, and even educate new home buyers." Last month, HomeSight received $1.7 million from the City of Seattle's home buyer assistance loan portfolio, which Lengyel said could lead to U.S. Department of Treasury certification as a Community Development Financial Institution. That would allow HomeSight to receive federal home ownership funding and take over some of the city of Seattle's loan servicing activities.




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