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Housing and Development Services, Inc. and Denihan & Associates, also a
100% Woman owned firm, established a partnership in 1998 to re-engineer and
introduce technology to the overall administration of Single Family Mortgage
Revenue Bond Programs. Utilizing one of the first internet-based SF
Compliance Systems designed and developed by the software arm of the
corporation, Housing and Development Software, LLC, this group launched its
services under the trade name of eHousingPlus.
The collaboration of eHousingPlus established a new era of Program
Administration via the Internet; Lenders, Agencies, Partners, etc. could
originate, manage, and correct deficiencies with ease, and manage their
overall program pipeline. Agencies could manage, track and report funds,
review their program pipeline and report on the demographics of their
programs via a secure, easy to use, accessible system. The re-engineering
of the previously dated traditional processes changed the way that
Lenders viewed MRB Programs. Formerly objecting to actively participate in
these types of programs for reasons including the time and cost involved,
lenders quickly embraced the new method, fully originating millions with
ease.
With a booming Bond Market, Agencies found themselves with limited resources
and the experience to meet those demands. The opportunity that eHousingPlus
provided the single family affordable housing agencies translated into
successful, quickly originated and delivered programs. The streamlined
processes that we implemented have allowed agencies to capitalize on program
options, knowing that the eHousingPlus Administration group could in fact
deliver the services needed.
eHousingPlus is committed to this market, and has become the leading Program
Administration Services provider in the industry. Our reputation and
experience is measured not only by the success of our programs, but by the
positive feedback of our partners, including lenders, financial advisors,
program underwriters, bond counsel, trustees and other professionals.
OUR PRINCIPALS & MANAGEMENT TEAM
HDS, Inc. is a privately held corporation, and is wholly owned. Cristina M.
Gilson is the President and CEO of HDS, Inc. She founded the corporation in
1998 and is the 100% shareholder. Patricia Denihan founded Denihan &
Associates in 1990 and is the owner and principal. The experience of our
management team and principals is represented herein:
Our corporate philosophy is marked by our mission statement: The primary
goal of HDS, Inc. and its affiliated companies to provide our clients with
products and services that will reshape and transform their businesses. We
will achieve this by utilizing new technologies and strategies, obtaining a
thorough knowledge of our client's operations and building partnerships with
our customers and others.
Our desire to commit to this market, while embracing the diversity of the
available work force, has afforded us the opportunity to build a
professional, service-oriented team.
Our Staff demographics are as follows:
TOTAL COMPANY
45% Total Women 70% of women are minorities
55% Total Men 39% of males are minorities
Staff Categories
Administrative Staff 100% Women, 50% Minorities
Professional Staff 55% Women, 100% Minorities
45% Men – 60%
Minorities
High Level Technical 18% Women, 33 Minorities
82% Men, 86%
Minorities
Management 78% Women, 67%
Minorities
22% Men, 50%
Minorities
OUR EXPERIENCE
Over the years, we have successfully managed 212 First Mortgage
Programs for 54 housing agencies. Of these, 84
programs had Second Mortgage Products and 180 of them had other GAP
financing available to homebuyers. We have successfully processed from
Reservation through the Delivery to Trustee over 49,150 first mortgages
in the amount of $5,295,000,000. Almost one third of the loans also carried
either an additional second mortgage product and/or other agency approved
GAP financing to the tune of over $350M. And of the 212 Programs, 63
offered assisted rates ranging from 3% to 6% for DPA. Our success metrics
have been 99.99% with only a handful of loans that have had eligibility
questioned.
eHousingPlus works with the leading MRB Program Servicers.
Our partnership further extends to other key professionals who make up the
program working groups, by collaborating with the overall program
development and outreach, and providing critical information for the
financial analysis of single family programs.
IN MEMORIAM