CHIF Celebrates 40th Anniversary
CHIF celebrated 40 years of providing affordable housing solutions to Connecticut residents with an anniversary celebration on June 18th. Hartford Mayor Eddie Perez presented CHIF with a proclamation and commended CHIF for its positive impact in Hartford.

Click here to see a timeline illustrating CHIF's affordable housing milestones.

	Hartford Mayor Eddie Perez presents CHIF President and CEO, Cynthia Russell, and Board chairman, John Ritter, with a proclamation about CHIF's contributions to the Hartford community.
	The CHIF staff pose for a 40th Anniversary picture.

CHIF Staff Participate in Walk Now for Autism
Several members of the CHIF staff walked at Walnut Hill Park in New Britain on Sunday, June 8, in the 6th annual Greater Hartford Walk Now for Autism. The walk raised over $380,000 for autism research.

	Several members of the CHIF staff participated in the 6th annual Greater Hartford Walk Now for Autism on June 8.

Kristen Caplin Selected as Connecticut Homeownership Partner
Kristen Caplin, CHIF’s Program Administrator for Mortgage Programs, has been selected by the First- Time HomeBuyer Magazine as one of 25 “Homeownership Partners” for her efforts in helping first-time homebuyers in the mortgage process. The magazine will honor Kristen and 24 other Homeownership Partners at a luncheon on June 11th. The Homeownership Partners are being recognized for their work in “helping others achieve the dream” of homeownership. Kristen was nominated for the award by homebuyers she assisted in obtaining a mortgage through CHIF’s first-time homebuyer program.

CHIF Staff Participate in First Annual HomeFest Expo
Kristen Caplin, Cynthia Russell, Lisa Ruggeri, and Ernesto Guardado represented CHIF at a booth at the first annual HomeFest held at the Hartford Expo Center on Saturday, April 12th. Hundreds of Connecticut residents came to the event to learn about home buying mortgage programs. CHIF staff distributed applications for both the ECL and home mortgage programs, and gave attendees with CHIF gifts. As part of the event, CHIF conducted a bus tour with representatives from the MetroHartford Alliance, NHI, and NINA of residential neighborhoods in Hartford. The tour included a stop at the new affordable homes completed by CIL on Grafton Street in the Behind the Rocks neighborhood.

	CHIF Staff Ernesto Guardado, Lisa Ruggeri, and Kristen Caplin pose with the Rock Cats mascot at HomeFest.

CHIF Maintains Tier 1 Rating from FHA
In February and January, CHIF again received the highest rating awarded by FHA/HUD for services reporting the performance of FHA-insured loans. CHIF has maintained this rating for four consecutive quarters. The rating is based on how well a loan servicer complies with FHA reporting requirements and uses the FHA loss mitigation tools.  HUD uses the rating system as a way of providing an incentive for loan servicers to comply with FHA rules.

CHIF Selected to Service New CT Families DAP Loans
The Connecticut Housing Finance Authority (CHFA) has selected CHIF to service the Down Payment Assistance loans made by the three lenders participating in CHFA’s new Connecticut Families loan program. This new program was developed to help families refinance subprime mortgages. CHFA has selected McCue Mortgage, New Alliance Bank, and Webster Bank to originate the first mortgages through this program. CHFA anticipates it will make approximately 400 loans through the Connecticut Families program.

CHIF Approved to Originate VA-Insured Loans
Adding another feature to its first mortgage lending program, CHIF is now approved to act as an agent to originate VA guaranteed loans. This approval enables CHIF to offer a better option to veterans interested in CHIF’s first-time homebuyer mortgage program. The VA-insured loan has no down payment requirement and does not require mortgage insurance, and allows CHIF to provide an additional rate reduction to individuals active in the military and to veterans. Kristen Caplin secured the approval for CHIF, and will be attending training to learn how to process these loans. CHIF expects to launch this program in August.

CHIF Receives new Contract Amendment from DECD to Continue the ECL Program
In March, CHIF received $2 million in new financing from DECD to continue the ECL program. The amendment also provides CHIF with administrative and loan servicing fees to operate the program. CHIF had depleted the funds from the previous allocation in February, and was only able to close loans to emergency cases during the month. Demand for loans from the ECL program remains high, and CHIF has a large pipeline of applications that are now being closed.

Staff from United Illuminated and Connecticut Light and Power Learn about CHIF’s ECL Program
In March, Lisa Ruggeri, Ernesto Guardado, and Cynthia Russell presented information about the Energy Conservation Loan Program (ECL) to over 50 contractors approved as “technicians” Northeast Utilities’ Home Energy Solutions program, or “HES”. HES technicians conduct energy audits to Connecticut homeowners to identify ways owners can decrease energy consumption. CHIF has established a partnership with the HES program to promote ECL as a way to finance energy efficient home improvements.

CHIF Finances Interim Bridge Loan
In February, the CHIF Loan Committee approved one of its largest loans to date, and committed an additional $500,000 in short term financing to the Somers Housing Authority for the Woodcrest Senior Housing Development. The total loan to the Authority is $700,000, and is being used to create 34 new rental units and renovate 48 rental units for senior citizens in Somers.

CRT Renews Contract with CHIF for Third Party Administrative Services
In February, CRT renewed its contract with CHIF to perform loan underwriting, closing, and servicing activities in conjunction with the Home Solutions Program. CRT had anticipated the contract would be renewed in October 2007, but the contract renewal process took six months longer than anticipated. CHIF expects to receive income from its services to CRT in April.

Home Energy Solutions Program
This comprehensive program may offer a full range of energy efficiency measures to address inefficient lighting, water heating, inefficient heating equipment, refrigeration and insufficient insulation.  This program, funded by the Connecticut Energy Efficiency Fund, is free to all customers who heat their homes with electricity or natural gas. For customers who heat their homes with oil, propane or kerosene there is a $300 co-pay for this service.

United Illuminating customers - click here for more information
Connecticut Light and Power customers - click here for more information


For more information about programs offered by CHIF, please call 860.233.5165 or 1.800.992.3665 or email homebuyers@chif.org.

For more news about CHIF, click here for a copy of CHIF's newsletter, In Brief.

Anniversary Reception
June 18, 2008

Board of Directors
September 26, 2008