Monday, January 3, 2022 - 02:06pm

North Dakota Housing Finance Agency (NDHFA) was ranked a Tier 1 Federal Housing Administration (FHA) loan servicer for FY 2021 by the U.S. Department of Housing and Urban Development’s (HUD) National Servicing Center. 

“North Dakota Housing Finance Agency provides affordable home financing including government-backed loans that help individuals and families with modest incomes buy a home with as little as $500 down,” said Dave Flohr, the agency’s executive director. 

Loan guarantees reimburse lenders for their loss in the event that a homeowner defaults. Of the nearly 11,000 loans NDHFA currently services, 48 percent are FHA guaranteed. 

Loan servicers receive quarterly scores that are averaged to produce a final fiscal year-end score. NDHFA’s FY2021 score is 93.53 percent, up from 91.81 the previous year. The agency was one of 297 loan servicers ranked as Tier 1 for FY2021. There were 801 FHA servicers nationwide.

The ranking system measures FHA servicer compliance with guidelines and intervention requirements, loss mitigation engagement, and reporting. The intention of the ranking is to protect borrowers and alert HUD to potential problems. A high work-out ratio shows a servicer’s effectiveness in working with delinquent borrowers to keep them out of foreclosure. The National Servicing Center has ranked NDHFA a Tier 1 servicer for four years running.

NDHFA has serviced its own mortgage loans for 30 years. The agency also services loans for Bank of North Dakota and local nonprofit housing providers.

A self-supporting and mission-driven agency, NDHFA is dedicated to making housing affordable for all North Dakotans. The North Dakota Industrial Commission, consisting of Governor Doug Burgum as chairman, Agriculture Commissioner Doug Goehring and Attorney General Wayne Stenehjem, oversees the agency. More information about NDHFA is available online at