St. Lucie County Lending Consortium

Clickhere for a printable version of the St. Lucie County Lending Consortium List.

St. Lucie County Housing Division works exclusively with these vendors in order to protect borrowers from predatory lending. Predatory Lending refers to lending practices that take advantage of vulnerable borrowers. This can take the form of aggressive sales tactics, abusive loan terms, deception, excessive cost burden with monthly payments, risk based pricing and others. Cost Burden refers to the amount that gross housing costs exceed 30% of gross income.

Applicants are encouraged to obtain three lender estimates as approval amounts and interest rates vary.

2010 St. Lucie Lender's Consortium Scheduled Meetings
The Meetings are always the 2nd Wednesday of every other month as follows:

Meeting Date	Meeting Time	Meeting Location
January 13, 2010	3:00 pm to 4:30 pm	City Hall - 100 North US Hwy 1, Fort Pierce (2nd Floor)
March 10, 2010	3:00 pm to 4:30 pm	Port St. Lucie Community Center - 2195 SE Airoso Boulevard, Port St. Lucie
May 12, 2010	3:00 pm to 4:30 pm	City Hall - 100 North US Hwy 1, Fort Pierce (2nd Floor)
July 14, 2010	3:00 pm to 4:30 pm	Port St. Lucie Community Center - 2195 SE Airoso Boulevard, Port St. Lucie
September 8, 2010	3:00 pm to 4:30 pm	City Hall - 100 North US Hwy 1, Fort Pierce (2nd Floor)
November 10, 2010	3:00 pm to 4:30 pm	Port St. Lucie Community Center - 2195 SE Airoso Boulevard, Port St. Lucie

If you are a lender who is interested in joining the consortium, please contact the chairperson, Teresa Idzior, at 772-221-2947. (teresa.idzior@seacoastnational.com) 815 Colorado Avenue, Stuart, FL 34994. As part of the Consortium, lender's must agree to:

• Attend semi-monthly meetings
• Sponsor a Home Buyer's Workshop
• Charge no origination fees or points
• Use underwriting guidelines based on community lending products for FNMA, FHLMC, or FHA
• Always escrow taxes and insurance
• Provide a Special Lending Package to SHIP Applicants which contain the following:
  • Reduced application fees
  • Fixed rate mortgages at reduced rates (FNMA 30-60 day rounded up to the nearest 0.125%)
  • Conventional 30 year mortgages
  • Waive PMI on loans from 80 - 90% loan to value ration
  • Waive origination fees and points
  • Waive all fees, except those to third parties (i.e., no doc prep, underwriting fees, processing fees, brokerage fees, etc when they are paid to the lender)

For more information contact:

St. Lucie County Community Services

Housing Division

437 N. 7th Street

Fort Pierce, FL 34950

Ph: (772) 462-1290

Fax: (772) 462-2855

email: comm_info@stlucieco.org

All information included in these pages are subject to change and/or revision without notice.