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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 has worked with the leading MRB Program Servicers, most notably U.S. Bank. We have a close relationship with the U.S. Bank MRBP-Division, with whom we partner to provide a joint Program Administration/Master Servicer service. Our partnership began over ten years ago, with then The Leader Mortgage Company, a niche MRB Master Servicer in the housing industry. The eHousingPlus staff is very familiar with the U.S. Bank Operations group and works very closely with them on the management of our programs. eHousingPlus has additional relationships with other servicers, including the CitiMortgage, Leader Financial and Standard Mortgage. 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. These firms include the following entities:
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