NAHAC Servicer Webinar April 24, 2018 10:00am 11:30am Pacific Time - PowerPoint PPT Presentation

NAHAC Servicer Webinar April 24, 2018 10:00am – 11:30am Pacific Time

Webinar Information Please join the meeting from your computer, tablet or smartphone. https://global.gotomeeting.com/join/488585397 You can also dial in using your phone. United States: +1 (669) 224-3412 Access Code: 488-585-397 www.NAHAC.org 2

Agenda • Welcome • NVHHF Update • Down Payment Assistance (DPA) Program • NAHAC Servicer Secure File Transfer Protocol (SFTP) Site • Common Data File (CDF) Records www.NAHAC.org 3

NVHHF Update • Program Performance • Marketing • Co-Branding www.NAHAC.org 4

Total Funds Disbursed Total Disbursed to Date: $106,691,912 (through March 31, 2018) Total Remaining: $64,308,062 (available until funds are exhausted or through program end – December 2020, whichever occurs first) 2011 2012 2013 2014 2015 2016 2017 2018 $3,232,213* $10,381,931 $3,048,884 $25,382,842 $4,646,325 $2,670,492 $5,521,615 *JAN 2018 thru MAR 2018 - $3,232,213 $51,807,610 www.NAHAC.org 5

Funding: 2016-2018 Funding Comparison $1,650,000 $1,450,000 $1,250,000 $1,050,000 Funded Dollars $850,000 2016 2017 $650,000 2018 $450,000 $250,000 $50,000 www.NAHAC.org 6

Current Programs • Unemployment Mortgage Assistance Program (UMAP) • Mortgage Reinstatement Assistance Program (MRAP) • Principal Reduction Program (PRP) • Second Mortgage Reduction Program (SMRP) www.NAHAC.org 7

Down Payment Assistance (DPA) Program – Effective April 23, 2018 • Assistance Amount – 10% Purchase price, up to $20,000 • Income Limit - $98,500 • Purchase Price Limit - $400,000 • Eligible Loans – 30 year fixed rate with FHA, VA, USDA-RD, Fannie Mae Preferred loan type • Available to select ZIP Codes – Refer to Program Guidelines • Reservations and Program Guidelines will be available through eHousingPlus portal under Home Is Possible Program www.NAHAC.org 8

Servicer Secure File Transfer Protocol (SFTP) Site • NAHAC’s Servicer SFTP Site overview • Obtaining a password • Accessing the SFTP Site • SFTP Site settings • SFTP Site navigation • Uploading files • Downloading files www.NAHAC.org 9

Common Data File (CDF) Records • Introduction • NAHAC internal CDF process ➢ All manual – issuing and receiving ➢ Final process, if approved ❖ Issuing “A” and “B” records ❖ Receiving “P” and “F” records in a timely manner www.NAHAC.org 10

Common Data File (CDF) Records - continued • Obstacles ➢ Missing information on returned CDF ❖ Taxes and Insurance ❖ Deferred Balances ❖ Active Bankruptcy ❖ Good Thru Date ❖ Correct PITIA ➢ Turnaround time www.NAHAC.org 11

Common Data File (CDF) Records - continued • Information requested by NAHAC and reason for request ➢ Modifications ➢ Statements ➢ Past Due amounts ➢ HUD Partial Claims, etc. ➢ Payment History (when mortgage is not showing on credit report) • Questions www.NAHAC.org 12

Servicer Scorecard 2017 Funds by Servicer – Top 5 $1,900,000 $1,756,483 $1,700,000 $1,445,807 $1,500,000 $1,335,011 $1,300,000 $1,100,000 $900,000 $744,928 $700,000 $534,511 $500,000 $300,000 $100,000 NationStar Bank of America Wells Fargo DiTech SPS www.NAHAC.org 13

Servicer Scorecard 2010-2017 Funds by Servicer - Top 5 $31,000,000 $27,465,636 $26,000,000 $21,000,000 $16,000,000 $13,964,881 $11,000,000 $7,943,703 $6,745,295 $4,785,962 $6,000,000 $1,000,000 Bank of America Wells Fargo JP Morgan Chase NationStar One Nevada Credit Union www.NAHAC.org 14

Q & A Verise V. Campbell, CEO/COO Nevada Affordable Housing Assistance Corporation Phone: (702) 570-5579 VCampbell@nahac.org www.NAHAC.org www.NAHAC.org 15