State Housing Authority Announces Partnership With REALTORS® To Provide Continuing Education--Michigan's Low To Moderate Income Residents To Benefit

Contact: Mary Lou Keenon 517-373-0011

August 22, 2006

State Housing Authority Announces Partnership With REALTORS® To Provide Continuing Education - Michigan's Low To Moderate Income Residents To Benefit

LANSING - The Michigan State Housing Development Authority (MSHDA) has been approved as a sponsor for the 2006 calendar year Real Estate nondistance-learning continuing education. MSHDA’s Office of Single Family is pleased to present its Homeownership Program to REALTORS® as part of a course curriculum. In order to maintain their licensed status, REALTORS® will spend time in the classroom learning to utilize MSHDA’s products to provide homes for their low- to moderate-income customers. The program will be offered as a free two-hour Real Estate continuing education course titled “MSHDA’s Homeownership Programs - Delivering the Dream to Michigan Families”.

“It is great that MSHDA is making the effort to work with our membership to offer this continuing education opportunity,” said Michigan Association of REALTORS® CEO Bill Martin. “This training should be useful not only to REALTORS® , but also in helping our membership serve the public." MSHDA will create an opportunity for REALTORS® to meet their professional goals and their customers’ goals of owning a home.

This course signifies a closer partnership between two key leaders of Michigan’s housing industry. “The education will allow us to combine our skills as partners in the housing industry and deliver the dream of owning a home to families in Michigan,” said MSHDA Executive Director Michael DeVos. “Having the course as part of the education curriculum really is a win for everybody.”

MSHDA representatives will serve as instructors of the REALTOR® continuing education seminars. The first seminars will take place in the Okemos area. The dates are Wednesday, September 13 th; Tuesday, October 10 th; and Tuesday, November 14 th, 2006 with all classes scheduled from 1:00pm to 3:00pm and registration at 12:30pm. These seminars will offer attendees an excellent opportunity to learn about MSHDA’s program enhancements designed to make it much simpler for them and their customers to understand and utilize MSHDA’s Single Family Loan Programs. Please call 517-373-6840 for registration information.

REALTOR® Companies and REALTOR® Associations also have the opportunity to schedule a free MSHDA two-hour continuing education seminar at their business location by calling 517-373-6840 and asking for the Marketing Division.

The courses are being offered at just the right time since MSHDA recently announced another increase in their sales price and income limits effective June 1 st, 2006. The income limits for MSHDA’s mortgage programs now range from $62,100 to $72,250 and sales prices range from $188,400 to $216,750. The course will show attendees how to utilize these limit increases to reach more customers.

MSHDA is a quasi-state agency that provides financial and technical assistance through public and private partnerships to create and preserve safe and decent affordable housing, engage in community economic development activities, and address homeless issues. MSHDA’s loans and operating expenses are financed through the sale of tax-exempt and taxable bonds and notes to private investors, not from state tax revenues. For more information on MSHDA programs and initiatives, visit the web site at