A NEW RESOURCE FOR HHF ADVISORS

• We offer bi-weekly advisors meetings • Q&A is emailed afterwards but not

posted online.

FAQ Website

• Accessed via Counselor Direct Admin Portal.

• Questions and Answers will be searchable

• Option to submit a question

• Content updated monthly

• Updates will have a visual cue and text “This answer was superseded on November 20.”

FAQ Categories

• Eligibility questions • Hardship Eligibility

questions • Income

Qualification • Asset Questions • Working with

Counselor Direct

• Administration topics

• Closing Questions • Monthly Touch

Questions • MLRP Questions • UMAP Questions:

Partial Payment and more

Demonstration of FAQ: ELIGIBILITY QUIZ

• Easy Round • Lighting Round • Sudden Death Round

Easy Round

If a private lender is willing to participate in HHF, would the borrowers be eligible?

ANSWER

No private lenders (with the exception of Habitat). It has to be a regulated financial institution.

Can an applicant be in a permanent modification and still be eligible for Hardest Hit?

Answer for “Permanent Modification”

• Yes, they can be in a permanent modification

• Cannot be in a HAMP or other modification trial period.

• Borrower may choose to stop the HAMP trial and take the HHF assistance

A client submitted her application before she was 180 days past due, but during the process she exceeded the 180 days. Is she still eligible?

ANSWER: 180 Days

Yes, you must research and confirm that she was less than 180 days past due on the day she submitted the application.

What if the borrower is still underemployed when UMAP ends? Can they still use MLRP plus remaining UMAP funds to bring the first mortgage current even if their mortgage payment is still more than 31% of monthly income?

Answer: When UMAP Ends

No, in this case the homeowner cannot currently afford the mortgage payment. Therefore, they are not eligible for MLRP. They must be able to show they can resume making their mortgage payment in order to receive the MLRP.

Lighting Round

If the second mortgage is over 6 months past due, are they still eligible?

Yes, however a homeowner will become ineligible if foreclosure action is taken against the second mortgage.

ANSWER: Second Mortgage

• Follow Up #1: If the 2nd mortgage forecloses, how do you complete the ineligibility form?

• Follow Up #2: What if the 2nd mortgage had already gone to final summary judgment before the applicant applied? Eligible?

• #1: There is no option to select on the ineligible check list. Write “A subordinate lender / entity (other than the first mortgage lender) has initiated a foreclosure claim on the property”

• #2: This case is ineligible.

A file was deemed ineligible months ago for no valid hardship. Now the applicant has lost his job. Can we re-start the application process?

ANSWER: Yes, you can update an application in this way.

A client was unemployed at the time of application but is now employed. The applicant is current on the loan and his employment income is enough so that he does not pass the 31% DTI test. What assistance can I provide?

ANSWER: • Ineligible for UMAP and does

not need MLRP. • Document income and more. • Computation form shows

ineligibility due to failing the 31% DTI test.

How do we find out if an applicant is eligible as a result of a second appeal requested from the Florida Housing Coalition?

ANSWER: The Coalition staff person will email the advisor a scan of the 2nd appeal letter, which the advisor must upload onto Counselor Direct. In some cases the Coalition may request that the advisor obtain additional documentation.

Sudden Death Round I have a customer who has four IRS liens on their property. How does this affect their eligibility?

ANSWER: It may not. If they are just liens then we can go ahead. If they are pursuing any further legal action, then we may not be able to assist. Such a case can be handled in consultation with Florida Housing’s staff.

Does HHF require an applicant’s financial hardship event to occur on or after 1/1/09?

ANSWER: No, there is no date before or after which the hardship had to occur. Of course, in all cases the hardship should have occurred after the first mortgage was originated.