TAMPA/134096.3

FIRST AMENDMENT TO 

COMMITMENT TO PURCHASE FINANCIAL INSTRUMENT 

and 

HFA PARTICIPATION AGREEMENT 

This First Amendment to Commitment to Purchase Financial Instrument and HFA Participation 

Agreement (the “First Amendment”) is entered into as of the date set forth on Schedule A

attached hereto as the Amendment Date (the “Amendment Date”), by and among the United 

States Department of the Treasury (“Treasury”), the undersigned party designated as HFA whose 

description is set forth in Schedule A attached hereto (for convenience, a “state housing finance 

agency” or “HFA”) and the undersigned institution designated by HFA to participate in the 

program described below (“Eligible Entity”). 

Recitals 

WHEREAS, Treasury, HFA and Eligible Entity entered into that certain Commitment to 

Purchase Financial Instrument and HFA Participation Agreement (the “Original HPA”) dated as 

of the Closing Date set forth on Schedule A attached hereto in connection with Treasury’s 

federal housing program entitled the Housing Finance Agency Innovation Fund for the Hardest 

Hit Housing Markets (the “HHF Program”), which was established pursuant to the Emergency 

Economic Stabilization Act of 2008 (P.L. 110-343), as amended, as the same may be amended 

from time to time (“EESA”); 

WHEREAS, pursuant to the Original HPA, Treasury purchased a Financial Instrument from 

Eligible Entity (the “Original Financial Instrument”) on the Closing Date; 

WHEREAS, on August 11, 2010 the Obama Administration announced that Treasury would 

make $2 billion of additional assistance available under the HHF Program for foreclosure 

prevention programs for homeowners struggling to make their mortgage payments due to 

unemployment (the “Unemployment HHF Funds”) in certain states that had previously received 

HHF Program funding, as well as certain new states and Washington, D.C.; 

WHEREAS, Treasury requested an action plan from state housing finance agencies in states that 

have previously received HHF Program funds for the use of the Unemployment HHF Funds to 

develop and implement a program or programs that specifically target homeowners struggling 

with unemployment; 

WHEREAS, HFA and Eligible Entity are part of, or are acting on behalf of, a state that was 

targeted to receive Unemployment HHF Funds and as such, Treasury, HFA and Eligible Entity 

wish to enter into this First Amendment to document all modifications and additional provisions 

necessary to address the Unemployment HHF Funds; 

WHEREAS, Treasury and Eligible Entity also desire to amend certain terms of the Original 

Financial Instrument; 
- 2 - 

TAMPA/134096.3

Accordingly, in consideration of the representations, warranties, and mutual agreements set forth 

herein and for other good and valuable consideration, the receipt and sufficiency of which are 

hereby acknowledged, Treasury, HFA and Eligible Entity agree as follows. 

Agreement 

1. Amendments

A. Definitions. All references in the Original HPA to the “Agreement” shall mean the 

Original HPA, as amended by this First Amendment; all references in the Original HPA to 

the “Financial Instrument” shall mean the Amended and Restated Financial Instrument in the 

form attached to this First Amendment as Exhibit A; all references in the Original HPA to the 

“Capital Draw Request” shall mean the Capital Draw Request in the form attached to this 

First Amendment as Exhibit C; and all references in the Original HPA to Schedules A, B or 

C shall mean the Schedules A, B or C attached to this First Amendment. All references 

herein to the “HPA” shall mean the Original HPA, as amended by this First Amendment. 

B. Unemployment Programs. The following additional language shall be added to 

Section 3.A. of the Original HPA: 

“No Capital Draw for funds in excess of the amount indicated on Schedule A

attached hereto as Portion of Program Participation Cap Representing Original 

HHF Funds shall be permissible for (i) Services that do not Qualify as an 

Unemployment Program, as indicated in the applicable Service Schedule, 

without the approval of Treasury, or (ii) Permitted Expenses.” 

C. Schedule A. Schedule A attached to the Original HPA is hereby deleted in its entirety 

and replaced with Schedule A attached to this First Amendment. 

D. Schedule B. Schedule B attached to the Original HPA is hereby deleted in its entirety 

and replaced with Schedule B attached to this First Amendment. 

E. Schedule C. Schedule C attached to the Original HPA is hereby deleted in its entirety 

and replaced with Schedule C attached to this First Amendment. 

F. Exhibit A. Exhibit A attached to the Original HPA is hereby deleted in its entirety 

and replaced with Exhibit A attached to this First Amendment. 

G. Exhibit C. Exhibit C attached to the Original HPA is hereby deleted in its entirety 

and replaced with Exhibit C attached to this First Amendment. 

2. Substitution of Financial Instrument

Eligible Entity shall deliver to Treasury on the date hereof an Amended and Restated 

Financial Instrument in the form attached to this First Amendment as Exhibit A. By 

executing this First Amendment, Treasury, HFA and Eligible Entity authorize The Bank 

of New York Mellon to cancel the Original Financial Instrument against delivery of such 

Amended and Restated Financial Instrument and direct The Bank of New York Mellon to 
- 3 - 

TAMPA/134096.3

return the cancelled Original Financial Instrument to (or at the direction of) the Eligible 

Entity. 

3. Representations, Warranties and Covenants

A. HFA and Eligible Entity. HFA and Eligible Entity, each for itself, make the 

following representations, warranties and covenants to Treasury and the truth and accuracy 

of such representations and warranties and compliance with and performance of such 

covenants are continuing obligations of HFA and Eligible Entity, each as to itself. In the 

event that any of the representations or warranties made herein cease to be true and correct or 

HFA or Eligible Entity breaches any of its covenants made herein, HFA or Eligible Entity, as 

the case may be, agrees to notify Treasury immediately and the same shall constitute an 

Event of Default under the HPA. 

(1) HFA and Eligible Entity each hereby covenants and agrees that no funds in excess 

of the amount indicated on Schedule A attached hereto as Portion of Program 

Participation Cap Representing Original HHF Funds shall be used (i) to fund Services 

performed by Eligible Entity that do not Qualify as an Unemployment Program, as 

indicated in the applicable Service Schedule, or (ii) for Permitted Expenses. 

(2) HFA and Eligible Entity each hereby certifies, represents and warrants as of the 

date hereof that each of the representations and warranties of HFA or Eligible Entity, as 

applicable, contained in the HPA are true, correct, accurate and complete in all material 

respects as of the date hereof. All covenants of HFA or Eligible Entity, as applicable, 

contained in the HPA shall remain in full force and effect and neither HFA, nor Eligible 

Entity is in breach of any such covenant. 

(3) Eligible Entity has the full corporate power and authority to enter into, execute, 

and deliver this First Amendment, the Amended and Restated Financial Instrument and 

any other closing documentation delivered to Treasury in connection with this First 

Amendment or the Amended and Restated Financial Instrument, and to perform its 

obligations hereunder and thereunder. 

(4) HFA has the full legal power and authority to enter into, execute, and deliver this 

First Amendment and any other closing documentation delivered to Treasury in 

connection with this First Amendment, and to perform its obligations hereunder and 

thereunder. 

4. Miscellaneous

A. The recitals set forth at the beginning of this First Amendment are true and accurate 

and are incorporated herein by this reference. 

B. Capitalized terms used but not defined herein shall have the meanings ascribed to 

them in the HPA. 

C. Any provision of the HPA that is determined to be prohibited or unenforceable in any 

jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or 
- 4 - 

TAMPA/134096.3

unenforceability without invalidating the remaining provisions of the HPA, and no such 

prohibition or unenforceability in any jurisdiction shall invalidate such provision in any other 

jurisdiction. 

D. This First Amendment may be executed in two or more counterparts (and by different 

parties on separate counterparts), each of which shall be deemed an original, but all of which 

together shall constitute one and the same instrument. Facsimile or electronic copies of this 

First Amendment and the Amended and Restated Financial Instrument shall be treated as 

originals for all purposes. 

[SIGNATURE PAGE FOLLOWS; REMAINDER OF PAGE 

INTENTIONALLY LEFT BLANK] 
[Signature Page to First Amendment to Commitment to Purchase Financial Instrument and HFA Participation Agreement – California]

In Witness Whereof, HFA, Eligible Entity and Treasury by their duly authorized officials 

hereby execute and deliver this First Amendment to Commitment to Purchase Financial 

Instrument and HFA Participation Agreement as of the Amendment Date. 

HFA: TREASURY: 

CALIFORNIA HOUSING FINANCE 

AGENCY 

UNITED STATES DEPARTMENT OF THE 

TREASURY 

By: /s/ L. Steven Spears By: 

Name: L. Steven Spears Name: Herbert M. Allison, Jr. 

Title: Executive Director Title: Assistant Secretary for 

 Financial Stability 

 

ELIGIBLE ENTITY:

CALHFA MORTGAGE 

ASSISTANCE CORPORATION 

By: /s/ Diane M. Richardson 

Name: Diane M. Richardson 

Title: President 

 
In Witness Whereof, HFA, Eligible Entity and Treasury by their duly authorized officials

hereby execute and deliver this First Amendment to Commitment to Purchase Financial

Instrument and HFA Participation Agreement as of the Amendment Date.

HFA:

CALIFORNIA HOUSING FINANCE

AGENCY

TREASURY:

UNITED STATES DEPARTMENT OF THE

TREASURY

By:

Name: L. Steven Spears

Title: Executive Director

ELIGIBLE ENTITY:

CALHFA MORTGAGE

ASSISTANCE CORPORATION

By:

Name: Diane M. Richardson

Title: President

By:

[Signature Page to First Amendment to Commitment to Purchase Financial Instrument and HFA Participation Agreement California]
TAMPA/134096.3

EXHIBITS AND SCHEDULES

Exhibit A Form of Amended and Restated Financial Instrument 

Exhibit C Form of Capital Draw Request 

Schedule A Basic Information 

Schedule B Service Schedules 

Schedule C Permitted Expenses 
TAMPA/134096.3

EXHIBIT A

FORM OF AMENDED AND RESTATED FINANCIAL INSTRUMENT

This Amended and Restated Financial Instrument is delivered by the undersigned party 

(“Eligible Entity”) as provided in Section 1 of the Commitment to Purchase Financial Instrument 

and HFA Participation Agreement dated as of the Effective Date, as modified by that certain 

First Amendment to Commitment to Purchase Financial Instrument and HFA Participation 

Agreement, dated as of the Amendment Date (together, the “Agreement”), by and among the 

United States Department of the Treasury (“Treasury”), the party designated as HFA in the 

Agreement (“HFA”) and Eligible Entity. This Amended and Restated Financial Instrument is 

effective as of the Amendment Date. All of the capitalized terms that are used but not defined 

herein shall have the meanings ascribed to them in the Agreement. 

Recitals

WHEREAS, Eligible Entity executed and delivered that certain Financial Instrument dated as of 

the Effective Date to Treasury (“Original Financial Instrument”); 

WHEREAS, Treasury and Eligible Entity desire to amend certain terms of the Original Financial 

Instrument regarding repayment of the Purchase Price, which were clarified after the Closing 

Date and to provide consistent terms for all states receiving HHF Program funds; 

Accordingly, for good and valuable consideration, the receipt and sufficiency of which are 

hereby acknowledged, Eligible Entity agrees as follows: 

1. Eligible Entity Obligation; Purchase Price Consideration. 

(a) Eligible Entity shall perform all Services described in the Service Schedules in 

consideration for the Purchase Price described in subsection (b) below, in 

accordance with the terms and conditions of the Agreement, to the satisfaction of 

Treasury. The conditions precedent to the payment by Treasury of the Purchase 

Price with respect to the Services are set forth in Section 3(B) of the Agreement. 

(b) This Amended and Restated Financial Instrument is being purchased by Treasury 

pursuant to Section 3 of the Agreement through the payment by Treasury of 

various payments referred to collectively in the Agreement as the “Purchase 

Price” (which Purchase Price includes payments made by Treasury under the 

Original Financial Instrument). This Amended and Restated Financial Instrument 

is being purchased by Treasury in connection with Eligible Entity’s participation 

in the Housing Finance Agency Innovation Fund for the Hardest Hit Housing 

Markets program (the “HHF Program”) created under the Emergency Economic 

Stabilization Act of 2008 (P.L. 110-343), as amended, as the same may be 

amended from time to time (“EESA”). 

2. Repayment of Purchase Price. In the event a recipient of HHF Program funds repays any 

or all of the funds received from Eligible Entity in connection with the Services, Eligible 

Entity shall use such funds as follows: 
TAMPA/134096.3

(a) First, if such funds are repaid on or prior to December 31, 2017, Eligible Entity 

may use such repaid funds to continue to provide Services to other eligible 

homeowners up to and including December 31, 2017 or retain such repaid funds 

to fund the Permitted Expenses to the extent the full amount as indicated on 

Schedule C to the Agreement has not been drawn from Treasury pursuant to 

Section 3(A) of the Agreement. Any repaid funds retained by Eligible Entity to 

fund Permitted Expenses shall correspondingly reduce the amount that Eligible 

Entity may draw from Treasury pursuant to Section 3(A) of the Agreement to 

fund Permitted Expenses. 

(b) Second, if such funds are repaid on or prior to December 31, 2017 and Eligible 

Entity is no longer providing the Services to new homeowners and the Permitted 

Expenses have been fully funded, then Eligible Entity shall remit such funds to 

Treasury, monthly on the 15th day of each month or first business day thereafter. 

(c) Third, if such funds are repaid after December 31, 2017, Eligible Entity shall 

remit such funds to Treasury, monthly on the 15th day of each month or first 

business day thereafter. 

3. Final Repayment. In the event Eligible Entity is holding any HHF Programs funds, 

including, but not limited to, excess cash and amounts on deposit in the administrative 

reserve, as of December 31, 2017, such funds shall be returned to Treasury or its designee 

prior to 1:00 p.m. Eastern Standard Time on December 31, 2017. 

4. Security Interest. As security for the performance of the Services and the other 

obligations of Eligible Entity under the Agreement, as such obligations are evidenced in 

this Amended and Restated Financial Instrument, Eligible Entity has granted to Treasury 

a first lien priority security interest in the Depository Account and in any moneys, or 

investments, if any, held therein. 

5. Representations, Warranties and Covenants. Eligible Entity represents and warrants that 

the representations and warranties set forth in the Agreement, on the date hereof, are, and 

on the date of each Capital Draw hereunder, shall be, true, correct, accurate and complete 

in all material respects. The truth and accuracy of such representations and warranties 

are continuing obligations of Eligible Entity. Additionally, all covenants of Eligible 

Entity set forth in Section 2 of the Agreement are incorporated herein by reference and 

Eligible Entity, on the date hereof, is not, and on the date of each Capital Draw 

hereunder, shall not be in breach of any such covenants. In the event that any of the 

representations or warranties made herein or in the Agreement cease to be true and 

correct, or the Eligible Entity breaches any of the covenants made herein or in the 

Agreement, Eligible Entity agrees to notify Treasury immediately and the same shall 

constitute an Event of Default hereunder. 

6. Limitation of Liability 

IN NO EVENT SHALL TREASURY, OR ITS OFFICERS, EMPLOYEES, AGENTS 

OR AFFILIATES BE LIABLE TO ELIGIBLE ENTITY WITH RESPECT TO THE 

SERVICES OR THE AGREEMENT, OR FOR ANY ACT OR OMISSION 

OCCURRING IN CONNECTION WITH THE FOREGOING, FOR ANY DAMAGES 
TAMPA/134096.3

OF ANY KIND, INCLUDING, BUT NOT LIMITED TO DIRECT DAMAGES, 

INDIRECT DAMAGES, LOST PROFITS, LOSS OF BUSINESS, OR OTHER 

INCIDENTAL, CONSEQUENTIAL, SPECIAL OR PUNITIVE DAMAGES OF ANY 

NATURE OR UNDER ANY LEGAL THEORY WHATSOEVER, EVEN IF ADVISED 

OF THE POSSIBILITY OF SUCH DAMAGES AND REGARDLESS OF WHETHER 

OR NOT THE DAMAGES WERE REASONABLY FORESEEABLE; PROVIDED, 

HOWEVER, THAT THIS PROVISION SHALL NOT LIMIT TREASURY’S 

OBLIGATION TO REMIT PURCHASE PRICE PAYMENTS TO ELIGIBLE ENTITY 

IN ACCORDANCE WITH THE AGREEMENT. 

7. Indemnification 

Eligible Entity agrees as set forth on Schedule E to the Agreement, which Schedule E is 

hereby incorporated into this Amended and Restated Financial Instrument by reference. 

IN WITNESS WHEREOF, Eligible Entity hereby executes this Amended and Restated Financial 

Instrument on the date set forth below. 

[INSERT FULL LEGAL NAME OF ELIGIBLE ENTITY] 

By: 

Name: 

Title: 

Date: ____________ __, 2010 
TAMPA/134096.3

EXHIBIT C

FORM OF CAPITAL DRAW REQUEST

[insert date] 

The Bank of New York Mellon 

tarpcppclosing@bnymellon.com 

Attn: Matthew Sabino 

The United States Department of the Treasury 

OFSChiefCounselNotices@do.treas.gov 

HFAInnovation@do.treas.gov 

tarp.compliance@do.treas.gov 

Attention: HFA Hardest Hit Fund 

Ladies/Gentlemen: 

 Reference is made to the Commitment to Purchase Financial Instrument and HFA 

Participation Agreement dated as of the date set forth on Schedule A thereto (as amended, 

supplemented or otherwise modified and in effect from time to time, the “HPA”) by and among 

[insert HFA name] (“HFA”), [insert Eligible Entity name] (“Eligible Entity”) and the United 

States Department of the Treasury (“Treasury”). Reference is also made to the Financial 

Instrument dated the date set forth on Schedule A to the HPA delivered by Eligible Entity to 

Treasury (as amended, restated, supplemented or otherwise modified and in effect from time to 

time, the “Financial Instrument”). Capitalized terms used but not otherwise defined herein shall 

have the meaning given them in the HPA. 

 In accordance with Section 3.A. of the HPA, the undersigned Eligible Entity hereby 

requests that The Bank of New York Mellon (“BNYM”), on behalf of Treasury, disburse the 

amounts set forth on the attached Capital Draw Schedule as a Capital Draw against the Purchase 

Price as described in the HPA to Eligible Entity on [insert date] (the “Funding Date”). 

 HFA and Eligible Entity, as applicable, hereby certify to Treasury and BNYM, as of the 

date hereof and on the Funding Date, that: 

(a) no default or Event of Default has occurred and is continuing as of the date hereof 

and on the Funding Date [other than ______________]; 

(b) each of the representations and warranties made by HFA and Eligible Entity in the 

HPA and Financial Instrument are true and correct on and as of such date, as if made 

on and as of the date hereof and on the Funding Date [other than ______________]; 
TAMPA/134096.3

(c) HFA and Eligible Entity are in compliance with the covenants and other agreements 

set forth in the HPA and Financial Instrument, which shall remain in full force and 

effect [other than ______________]; 

(d) No portion of any prior Capital Draw and/or this Capital Draw in excess of the 

amount set forth on Schedule A to the HPA as Portion of Program Participation Cap 

Representing Original HHF Funds, have been or will be used to fund Services that do 

not Qualify as an Unemployment Program, as indicated in the applicable Service 

Schedule, or Permitted Expenses. 

(e) all data and information set forth in this Capital Draw Request, including the Capital 

Draw Schedule, is true and correct in all respects; and 

(f) to our knowledge, there have been no Acts of Bad Faith by any HHF Recipient [other 

than ______________]. 

 In the event that any part of the certification made herein is discovered not to be true and 

correct after the date hereof, HFA or Eligible Entity, as applicable, shall notify Treasury 

immediately. 

[INSERT FULL LEGAL NAME OF HFA] 

 

[Name of Authorized Official] 

[Title of Authorized Official] 

[INSERT FULL LEGAL NAME OF ELIGIBLE ENTITY] 

 

[Name of Authorized Official] 

[Title of Authorized Official] 
TAMPA/134096.3

CAPITAL DRAW SCHEDULE

Capital Draw Request for: 

[______] Program $____________

[______] Program $____________

[______] Program $____________

Permitted Administrative Expenses $____________

Total Capital Draw Request $____________

Amount of Capital Draw Request for Non-Unemployment Programs and 

Permitted Expenses 

$____________

Amount of Capital Draw Request for Unemployment Programs $____________

Total Capital Draw Request as a Percentage of Program Participation Cap1: _____% 

Total Purchase Price funded to date, including current Capital Draw: $____________

Total funding to date, including current Capital Draw for Non-Unemployment 

Programs and Permitted Expenses2

$____________

Total funding to date, including current Capital Draw for Unemployment 

Programs 

$____________

Program Participation Cap: $____________

Program Funds Remaining: $____________

Amount of HHF Program funds on hand prior to this Capital Draw: $____________

HHF Program funds on hand prior to this Capital Draw as a Percentage of 

Program Participation Cap3: 

_____% 

________________________ 

1 May not be less than 2.5% nor exceed 20%. 

2 May not exceed Portion of Program Participation Cap Representing Original HHF Funds. 3

 May not exceed 5.0% on the date of submission of the Draw Request. 

Depository Account Information/Wire 

Instructions for payment of Capital Draw: 
TAMPA/134096.3

SCHEDULE A

BASIC INFORMATION

Eligible Entity Information: 

Name of the Eligible Entity: CalHFA Mortgage Assistance Corporation

Corporate or other organizational form: Nonprofit Public Benefit Corporation

Jurisdiction of organization: California

Notice Information: Diane Richardson, President 

CalHFA Mortgage Assistance Corporation 

 1415 L Street, Suite 500 

 Sacramento, CA 95814 

 Phone: (916) 324-0801 

 Fax: (916) 324-8640 

 Email: drichardson@calhfa.ca.gov 

 

 With a copy to: Thomas Hughes, General Counsel 

 CalHFA Mortgage Assistance Corporation 

 1415 L Street, Suite 500 

 Sacramento, CA 95814 

 Phone: (916) 323-3424 

 Fax: (916) 322-3151 

 Email: thughes@calhfa.ca.gov 

HFA Information: 

Name of HFA: California Housing Finance Agency 

Organizational form: Agency of the State of California 

Date of Application: April 16, 2010 

Date of Action Plan: September 1, 2010 

Notice Information: L. Steven Spears, Executive Director 

CalHFA Mortgage Assistance Corporation 

 1415 L Street, Suite 500 

 Sacramento, CA 95814 

 Phone: (916) 324-8640 

 Fax: (916) 324-8640 

 Email: sspears@calhfa.ca.gov 
TAMPA/134096.3

 With a copy to: Thomas Hughes, General Counsel 

 CalHFA Mortgage Assistance Corporation 

 1415 L Street, Suite 500 

 Sacramento, CA 95814 

 Phone: (916) 323-3424 

 Fax: (916) 322-3151 

 Email: thughes@calhfa.ca.gov 

Program Participation Cap: $1,175,857,070.00 

Portion of Program Participation Cap 

Representing Original HHF Funds: $ 699,600,000.00 

Portion of Program Participation Cap 

Representing Unemployment HHF Funds: $ 476,257,070.00 

Permitted Expenses: $ 88,189,280.25

Closing Date: June 23, 2010 

Amendment Date: September 23, 2010 

Eligible Entity Depository Account Information: See account information set forth in the 

Depository Account Control Agreement 

between Treasury and Eligible Entity 

regarding the HHF Program. 
TAMPA/134096.3

SCHEDULE B

SERVICE SCHEDULES

The Service Schedules attached as Schedule B to the Original HPA are hereby deleted in their 

entirety and replaced with the attached Service Schedules (numbered sequentially as Service 

Schedule B-1, Service Schedule B-2, et. seq.), which collectively comprise Schedule B to the 

HPA. 
TAMPA/134096.3

SCHEDULE B-1

California Housing Finance Agency Mortgage Assistance Corporation (“CalHFA MAC”) 

UNEMPLOYMENT MORTGAGE ASSISTANCE PROGRAM 

Summary Guidelines 

1. Program 

Overview 

The Unemployment Mortgage Assistance Program (UMA) is one of 

CalHFA MAC’s federally-funded programs developed to provide 

temporary financial assistance to eligible California homeowners 

who wish to remain in their homes but have suffered a loss of income 

due to unemployment. 

CalHFA MAC is partnering with financial institutions to directly 

provide program funds to subsidize an eligible borrower’s mortgage 

payments. 

UMA provides mortgage payment assistance equal to the lesser of 

$3,000 per month or 100% of the PITIA (principal, interest, tax, 

insurance and escrowed homeowner’s association dues) for up to six 

(6) months, with the purpose of preventing avoidable foreclosures 

until such time that the borrower retains employment sufficient to 

meet the demands of satisfying their regular mortgage payment. 

2. Program Goals UMA’s goal is to help homeowners remain in their homes and 

prevent avoidable foreclosures despite loss of income due to 

unemployment. 

The UMA program will minimize past due payments, and provide a 

borrower with additional time to find alternate employment and 

replace income needed to make their mortgage payment. 

UMA was designed to assist borrowers who are currently eligible to 

receive unemployment benefits. 

UMA was designed to complement other loss mitigation programs, 

including increasing a borrower’s eligibility for an extended written 

forbearance plan and/or loan modification. 

3. Target 

Population / 

Areas 

UMA is designed to target low-to-moderate income homeowners and 

address the needs of a borrower’s specific situation in lieu of 

targeting certain regions or counties. 

4. Program 

Allocation

(Excluding 

Administrative 

Expenses) 

$505,237,790.75 
TAMPA/134096.3

5. Borrower 

Eligibility 

Criteria 

• Borrower must qualify as a low-to-moderate income 

household, as follows: 

o Low-to-moderate income of 120% or less of the Area 

Median Income in the county where borrower resides. 

o A loan financed in whole or in part by bonds that are 

tax-exempt under IRC section 143, the borrower is 

presumed to satisfy income limits. 

• Borrower must complete and sign a Hardship Affidavit and 

3rd Party Authorization documenting the reason for the 

hardship. 

• Borrowers who have recently encountered a financial 

hardship due to underemployment or unemployment related 

to their military service. 

• Borrower must agree to provide all necessary documentation 

to satisfy program guidelines established by CalHFA MAC. 

• Borrower must be currently eligible to receive unemployment 

benefits. 

• Mortgage loan is delinquent or at risk of imminent default as 

substantiated by borrower’s hardship documentation. Loans 

in foreclosure are not eligible. 

• General program eligibility is determined by CalHFA MAC, 

the housing counselor or servicer based on information 

received from the borrower. Program-specific eligibility is 

determined by CalHFA MAC on a first-come/first-approved 

basis until program funds and funding reserves have been 

exhausted. Loan servicer will implement the HHF program 

based on participation agreement terms and conditions. 

• Funding allocation will be tracked, monitored and performed 

by CalHFA MAC in a centralized processing operation.

6. Property / Loan 

Eligibility 

Criteria 

• Property is encumbered by a first lien mortgage loan that was 

originated on or before January 1, 2009. 

• Current unpaid principal balance (UPB) of the first lien 

mortgage loan is not greater than $729,750 (GSE conforming 

limit for a one-unit property). 

• The property securing the mortgage loan must not be 

abandoned, vacant, condemned or in a serious state of 

disrepair. 

• The subject property is the borrower’s principal residence and 

the property is located in California. 

• The applicant must own and occupy the single family, oneunit home (an attached or detached house or a condominium 

unit) located in California and must currently reside in the 

home as their primary residence. 

7. Program 

Exclusions 

• Mortgage payments are delinquent 90 days or greater at time 

of program application. 

• Loan is in foreclosure. 
TAMPA/134096.3

• Borrower owns other real property. 

• Borrower’s “hardship” is a result of voluntary resignation of 

employment. 

• The borrower is no longer eligible for unemployment benefits 

from the California Employment Development Department 

(EDD) benefit or such benefits will expire within 90 days. 

• Borrower consummated a “cash-out” refinance of the subject 

first lien mortgage property. 

o Refinancing for the sole purpose of obtaining a new 

interest rate and loan term is permissible. 

o Costs associated with the first mortgage refinance may 

be financed in the new loan. 

o Junior liens used to purchase the subject property first 

mortgage property are not excluded from eligibility. 

• Stand-alone second liens including home equity lines of credit 

are considered “cash-out.” Borrowers with junior liens that 

meet this description are not eligible for program assistance. 

8. Structure of 

Assistance 

CalHFA MAC will structure the assistance as a non-recourse, noninterest bearing subordinate loan in favor of the Eligible Entity 

(CalHFA MAC) secured by a junior lien recorded against the 

property in the amount of the total reduced PITIA and equal to the 

total amount of HHF unemployment assistance. At the conclusion of 

(3) three years, the subordinate loan will be forgiven provided the 

loan remains in good standing and the borrower complies with 

program guidelines. Loan funds will only be repaid to Eligible Entity 

(CalHFA MAC) in the event of a sale or refinance with sufficient net 

equity proceeds prior to forgiveness. Recovered funds will be 

recycled in order to provide additional program assistance until 

December 31, 2017, at which time any recovered funds will be 

returned to Treasury. 

The lender/servicer shall be required to provide the borrower with a 

written approved forbearance plan for a period no less than three (3) 

months PITIA. The lender/servicer forbearance plan may precede or 

follow the HHF program assistance. 

After December 31, 2017, any remaining or returned funds will be 

returned to Treasury. 

9. Per Household 

Assistance 

Up to $18,000 per household total (average funding of $14,455.43), 

equaling the lesser of $3,000 per month or 100% of PITIA (and in all 

cases, subject to the HHF Program maximum benefit cap of $50,000 

with respect to monies previously received under other HHF 

Programs, if any). 

10. Duration of 

Assistance 

Borrower participation in UMA is limited to six (6) months 

maximum. 
TAMPA/134096.3

11. Estimated 

Number of 

Participating 

Households 

Approximately 34,951. This figure is based on loans with unpaid 

principal balances ranging from $200,000 to $400,000 with an 

average funding of $14,455.43. 

12. Program 

Inception / 

Duration 

UMA will be available to borrowers no later than November 1, 2010 

and will last up to three (3) years or until funding is fully reserved. 

13. Program 

Interactions with 

Other HFA

Programs 

UMA will serve as a gateway to borrower programs aimed at 

reinstatement and principal reduction. 

14. Program 

Interactions with 

HAMP 

This benefit may precede or extend HAMP, including HAMP UP for 

temporary unemployment assistance which when combined may 

provide assistance for up to one year. HAMP UP currently offers a 

minimum of three months and up to six months for some borrowers.

15. Program 

Leverage with 

Other Financial 

Resources 

The applicable servicer/lender is required to complement UMA 

assistance with a written approved forbearance plan for a period no 

less than three (3) months PITIA. 

CalHFA MAC will request that the loan servicer waive fees (e.g., 

NSF and late charges). 

16. Qualify as an 

Unemployment 

Program 

; Yes  No 
TAMPA/134096.3

SCHEDULE B-2

California Housing Finance Agency Mortgage Assistance Corporation (“CalHFA MAC”) 

MORTGAGE REINSTATEMENT ASSISTANCE PROGRAM 

Summary Guidelines 

1. Program 

Overview 

The Mortgage Reinstatement Assistance Program (MRAP) is one of 

CalHFA MAC’s federally-funded programs developed to provide 

temporary financial assistance to eligible homeowners who wish to 

remain in their homes but are in imminent danger of losing their 

home to foreclosure. 

MRAP provides funds to assist income-qualified borrowers to help 

them cure their delinquent first mortgage loan arrearages, which 

may also include payments needed to reinstate their loans from 

foreclosure. 

2. Program Goals The MRAP program will prevent avoidable foreclosures by helping 

borrowers reinstate their past due first mortgage loans. 

MRAP will also mitigate the need for large reinstatement dollars to 

be capitalized with remaining loan balance, and thus, broaden the 

population of borrowers who otherwise may not qualify for 

modification. 

3. Target Population 

/ Areas 

MRAP is designed to target low-to-moderate income homeowners 

and address the needs of a borrower’s specific situation in lieu of 

targeting certain regions or counties. 

4. Program 

Allocation 

(Excluding 

Administrative 

Expenses) 

$129,400,000.00 

5. Borrower 

Eligibility Criteria 

• Borrower must qualify as a low-to-moderate income 

household, as follows: 

o Low-to-moderate income of 120% or less of the Area 

Median Income in the county where borrower 

resides. 

o A loan financed in whole or in part by bonds that are 

tax-exempt under IRC section 143, the borrower is 

presumed to satisfy income limits. 

• Borrower must complete and sign a Hardship Affidavit and 

3rd Party Authorization documenting the reason for the 

hardship. 

• Borrowers who have recently encountered a financial 
TAMPA/134096.3

hardship due to their military service. 

• Borrower has adequate income to sustain modified mortgage 

payments per lender guidelines. 

• Borrower must agree to provide all necessary documentation 

to satisfy program guidelines established by CalHFA MAC. 

• Mortgage loan is delinquent or at risk of imminent default as 

substantiated by borrower’s hardship documentation. Loans 

in foreclosure are eligible. 

• General program eligibility is determined by CalHFA MAC, 

the housing counselor or servicer based on information 

received from the borrower. Program-specific eligibility is 

determined by CalHFA MAC on a first-come/first-approved 

basis until program funds and funding reserves have been 

exhausted. Loan servicer will implement the HHF program 

based on participation agreement terms and conditions. 

• Funding allocation will be tracked, monitored and performed 

by CalHFA MAC in a centralized processing operation. 

6. Property / Loan 

Eligibility Criteria 

• Property is encumbered by a first lien mortgage loan that 

was originated on or before January 1, 2009. 

• Current unpaid principal balance (UPB) of the first lien 

mortgage loan is not greater than $729,750 (GSE conforming 

limit for a one-unit property). 

• The property securing the mortgage loan must not be 

abandoned, vacant, condemned or in a serious state of 

disrepair. 

• The subject property is the borrower’s principal residence 

and the property is located in California. 

• The applicant must own and occupy the single family, oneunit home (an attached or detached house or a condominium 

unit) located in California and must currently reside in the 

home as their primary residence. 

7. Program 

Exclusions 

• Borrower owns other real property. 

• Borrower’s “hardship” is a result of voluntary resignation of 

employment. 

• Borrower consummated a “cash-out” refinance of the subject 

first lien mortgage property. 

o Refinancing for the sole purpose of obtaining a new 

interest rate and loan term is permissible. 

o Costs associated with the first mortgage refinance 

may be financed in the new loan. 

o Junior liens used to purchase the subject property 

first mortgage property are not excluded from 

eligibility. 

• Stand-alone second liens including home equity lines of 

credit are considered “cash-out.” Borrowers with junior 

liens that meet this description are not eligible for program 
TAMPA/134096.3

assistance. 

8. Structure of 

Assistance 

In the event that CalHFA MAC receives less than 100% match by 

the lender/servicer, CalHFA MAC will structure the assistance as a 

non-recourse, non-interest bearing subordinate loan in favor of the 

Eligible Entity (CalHFA MAC) secured by a junior lien recorded 

against the property in the amount of the HHF assistance. At the 

conclusion of (3) three years, the subordinate loan will be forgiven 

provided the loan remains in good standing and the borrower 

complies with program guidelines. Loan funds will only be repaid 

to Eligible Entity (CalHFA MAC) in the event of a sale or refinance 

with sufficient net equity proceeds prior to forgiveness. Recovered 

funds will be recycled in order to provide additional program 

assistance until December 31, 2017, at which time any recovered 

funds will be returned to Treasury. 

If the lender/servicer matches the assistance in an amount equal to or 

greater than 100% of the HHF Program assistance provided to the 

borrower, then the assistance is not required to be structured as a 

loan to the borrower. 

After December 31, 2017, any remaining or returned funds will be 

returned to Treasury. 

9. Per Household 

Assistance 

Up to $15,000 per household (average funding of $7,484.15) or 50% 

of PITIA arrearages, whichever is less (and in all cases, subject to 

the HHF Program maximum benefit cap of $50,000 with respect to 

monies previously received under other HHF Programs, if any). 

10. Duration of 

Assistance 

Available on a one-time only basis, per household. 

11. Estimated 

Number of 

Participating 

Households 

Approximately 17,290. This figure is based on loans with unpaid 

principal balances ranging from $200,000 to $400,000 with an 

average funding of $7,484.15. 

12. Program 

Inception / 

Duration 

MRAP will be available to borrowers no later than November 1, 

2010 and will last up to three (3) years or until funding is fully 

reserved. 

13. Program 

Interactions with 

Other HFA

Programs 

MRAP will serve as a gateway to other loss mitigation programs 

including loan modification which may include principal reduction, 

including other HHF Programs and the Principal Reduction 

Program. 

14. Program 

Interactions with 

HAMP 

MRAP will serve as a gateway to HAMP which may include 

principal reduction of borrower’s mortgage. 
TAMPA/134096.3

15. Program Leverage 

with Other 

Financial 

Resources 

The goal of the program is for the applicable servicer/lender to 

match MRAP funds on a dollar-for-dollar basis. The matching 

funds will be paid no later than at the time of CalHFA MAC 

program funding. 

CalHFA MAC will require that the servicer waive all accrued and 

unpaid late charges and NSF fees for all payments funded with 

MRAP benefits. 

16. Qualify as an 

Unemployment 

Program 

 Yes ; No 
TAMPA/134096.3

SCHEDULE B-3

California Housing Finance Agency Mortgage Assistance Corporation (“CalHFA MAC”) 

PRINCIPAL REDUCTION PROGRAM 

Summary Guidelines 

1. Program 

Overview 

The Principal Reduction Program (PRP) is one of CalHFA MAC’s 

federally-funded programs developed with a goal to provide capital 

on a dollar-for-dollar matching basis with participating lenders to 

reduce over a three-year period the outstanding principal balances of 

qualifying properties with negative equity. 

PRP will provide monies to reduce the principal balance of the first 

mortgage loan for the purpose of establishing an appropriate level of 

debt for eligible borrowers with qualifying properties. 

2. Program Goals The PRP program will, in cooperation with participating lenders, 

leverage the HHF dollars by reducing the principal balances of 

underwater mortgages and provide an incentive for qualifying 

homeowners to remain in their homes during this period of steep 

declines in value. 

A reduction in principal through PRP can achieve desired income 

ratios and affordability for a borrower on the existing mortgage loan 

or can be used in conjunction with a loan modification. 

3. Target Population 

/ Areas 

PRP is designed to target low-to-moderate income homeowners and 

address the needs of a borrower’s specific situation in lieu of 

targeting certain regions or counties. 

4. Program 

Allocation

(Excluding 

Administrative 

Expenses) 

$420,729,999.00 

5. Borrower 

Eligibility Criteria 

• Borrower must qualify as a low-to-moderate income 

household, as follows: 

o Low-to-moderate income of 120% or less of the Area 

Median Income in the county where borrower 

resides. 

o A loan financed in whole or in part by bonds that are 

tax-exempt under IRC section 143, the borrower is 

presumed to satisfy income limits. 

• Borrower must complete and sign a Hardship Affidavit and 

3rd Party Authorization documenting the reason for the 

hardship. 
TAMPA/134096.3

• Borrowers who have recently encountered a financial 

hardship due to their military service. 

• Borrower has adequate income to sustain modified mortgage 

payments per lender guidelines. 

• Borrower must agree to provide all necessary documentation 

to satisfy program guidelines established by CalHFA MAC. 

• Mortgage loan is delinquent or at risk of imminent default as 

substantiated by borrower’s hardship documentation. Loans 

in foreclosure are eligible. 

• General program eligibility is determined by CalHFA MAC, 

the housing counselor or servicer based on information 

received from the borrower. Program-specific eligibility is 

determined by CalHFA MAC on a first-come/first-approved 

basis until program funds and funding reserves have been 

exhausted. Loan servicer will implement the HHF program 

based on participation agreement terms and conditions. 

• Funding allocation will be tracked, monitored and performed 

by CalHFA MAC in a centralized processing operation.

6. Property / Loan 

Eligibility Criteria 

• Property is encumbered by a first lien mortgage loan that 

was originated on or before January 1, 2009. 

• Current unpaid principal balance (UPB) of the first lien 

mortgage loan is not greater than $729,750 (GSE conforming 

limit for a one-unit property). 

• The property securing the mortgage loan must not be 

abandoned, vacant, condemned or in a serious state of 

disrepair. 

• The subject property is the borrower’s principal residence 

and the property is located in California. 

• The applicant must own and occupy the single family, oneunit home (an attached or detached house or a condominium 

unit) located in California and must currently reside in the 

home as their primary residence. 

7. Program 

Exclusions 

• Borrower owns other real property. 

• Borrower’s “hardship” is a result of voluntary resignation of 

employment. 

• Borrower fails to satisfy lender underwriting guidelines, 

including a LTV of 120% or less. 

• Borrower consummated a “cash-out” refinance of the subject 

first lien mortgage property. 

o Refinancing for the sole purpose of obtaining a new 

interest rate and loan term is permissible. 

o Costs associated with the first mortgage refinance 

may be financed in the new loan. 

o Junior liens used to purchase the subject property 

first mortgage property are not excluded from 

eligibility. 
TAMPA/134096.3

• Stand-alone second liens including home equity lines of 

credit are considered “cash-out.” Borrowers with junior 

liens that meet this description are not eligible for program 

assistance. 

8. Structure of 

Assistance 

In the event that CalHFA MAC receives less than 100% match by 

the lender/servicer, CalHFA MAC will structure the assistance as a 

non-recourse, non-interest bearing subordinate loan in favor of the 

Eligible Entity (CalHFA MAC) secured by a junior lien recorded 

against the property in the amount of the HHF assistance. At the 

conclusion of (3) three years, the subordinate loan will be forgiven 

provided the loan remains in good standing and the borrower 

complies with program guidelines. Loan funds will only be repaid 

to Eligible Entity (CalHFA MAC) in the event of a sale or refinance 

with sufficient net equity proceeds prior to forgiveness. Recovered 

funds will be recycled in order to provide additional program 

assistance until December 31, 2017, at which time any recovered 

funds will be returned to Treasury. 

If the lender/servicer matches the assistance in an amount equal to or 

greater than 100% of the HHF Program assistance provided to the 

borrower, then the assistance is not required to be structured as a 

loan to the borrower. 

After December 31, 2017, any remaining or returned funds will be 

returned to Treasury. 

9. Per Household 

Assistance 

Up to $50,000 per household (average funding of $31,449.58), less 

program monies previously received under other HHF Programs. 

10. Duration of 

Assistance 

Available on a one-time only basis, per household. 

11. Estimated 

Number of 

Participating 

Households 

Approximately 13,378. This figure is based on loans with unpaid 

principal balances ranging from $200,000 to $400,000 with an 

average funding of $31,449.58. 

12. Program 

Inception / 

Duration 

PRP will be available to borrowers no later than November 1, 2010 

and will last up to three (3) years or until funding is fully reserved. 

13. Program 

Interactions with 

Other HFA 

Programs 

PRP may be used in conjunction with MRAP aimed at 

reinstatement. 

14. Program 

Interactions with 

HAMP 

PRP may work in conjunction with a standard HAMP modification 

to help eligible borrowers achieve desired income ratios and 

affordability. PRP may not be combined or used in conjunction with 

the HAMP Principal Reduction Alternative (PRA). PRP layering 

with HAMP PRA is strictly prohibited. PRP funds are not eligible in 

any combination to qualify for HAMP PRA investor incentive 
TAMPA/134096.3

compensation. 

15. Program Leverage 

with Other 

Financial 

Resources 

The goal of the program is for the applicable servicer/lender to 

match PRP funds on a dollar-for-dollar basis. The servicer/lender’s 

matching funds will be paid no later than at the time of CalHFA 

MAC program funding. 

CalHFA MAC will require that the servicer waive all accrued and 

unpaid late charges and NSF fees at the time the modification 

agreement is completed 

16. Qualify as an 

Unemployment 

Program 

 Yes ; No 
TAMPA/134096.3

SCHEDULE B-4

California Housing Finance Agency Mortgage Assistance Corporation (“CalHFA MAC”) 

THE TRANSITION ASSISTANCE PROGRAM 

Summary Guidelines 

1. Program 

Overview 

The Transition Assistance Program (TAP) is one of CalHFA MAC’s 

federally-funded programs developed to provide eligible 

homeowners with transition assistance when it is determined that 

they can no longer afford their home. 

TAP will be used in conjunction with short sale and deed-in-lieu 

programs to help borrowers make a smooth transition to housing. 

Borrowers will be required to occupy and maintain the property 

until the home is sold or returned to the lender as negotiated. 

Program funds would be available on a one-time only basis up to 

$5,000 per household and can be used or layered with other CalHFA 

MAC HHF Programs. No funds will go directly to the borrower. 

All funds will be sent to the Servicer subject to Servicer/Investor 

approval of short sale or deed-in-lieu of foreclosure. Funds are 

intended to help the borrower secure new housing (e.g., rent, 

moving expenses, and security deposits) and will be available for 

transition assistance counseling services. 

2. Program Goals CalHFA MAC envisions that these monies would be used to 

complement other federal or lender programs designed specifically 

to stabilize communities by providing assistance to borrowers who 

have suffered a financial hardship and as a result are no longer 

financially able to afford their mortgage payments. 

3. Target Population 

/ Areas 

TAP is designed to target low-to-moderate income homeowners and 

address the needs of a borrower’s specific situation in lieu of 

targeting certain regions or counties. 

4. Program 

Allocation

(Excluding 

Administrative 

Expenses) 

$32,300,000.00 

5. Borrower 

Eligibility Criteria 

• Borrower must qualify as a low-to-moderate income 

household, as follows: 

o Low-to-moderate income of 120% or less of the Area 

Median Income in the county where borrower 

resides. 

o A loan financed in whole or in part by bonds that are 
TAMPA/134096.3

tax-exempt under IRC section 143, the borrower is 

presumed to satisfy income limits. 

• Borrower must complete and sign a Hardship Affidavit and 

3rd Party Authorization documenting the reason for the 

hardship. 

• Borrowers who have recently encountered a financial 

hardship due to their military service. 

• Borrower must agree to provide all necessary documentation 

to satisfy program guidelines established by CalHFA MAC. 

• Mortgage loan is delinquent or at risk of imminent default as 

substantiated by borrower’s hardship documentation. Loans 

in foreclosure are eligible. 

• General program eligibility is determined by CalHFA MAC, 

the housing counselor or servicer based on information 

received from the borrower. Program-specific eligibility is 

determined by CalHFA MAC on a first-come/first-approved 

basis until program funds and funding reserves have been 

exhausted. Loan servicer will implement the HHF program 

based on participation agreement terms and conditions. 

• Funding allocation will be tracked, monitored and performed 

by CalHFA MAC in a centralized processing operation. 

6. Property / Loan 

Eligibility Criteria 

• Property is encumbered by a first lien mortgage loan that 

was originated on or before January 1, 2009. 

• Current unpaid principal balance (UPB) of the first lien 

mortgage loan is not greater than $729,750 (GSE conforming 

limit for a one-unit property). 

• The property securing the mortgage loan must not be 

abandoned, vacant, condemned or in a serious state of 

disrepair. 

• The subject property is the borrower’s principal residence 

and the property is located in California. 

• The applicant must own and occupy the single family, oneunit home (an attached or detached house or a condominium 

unit) located in California and must currently reside in the 

home as their primary residence. 
TAMPA/134096.3

7. Program 

Exclusions 

• Borrower owns other real property. 

• Borrower consummated a “cash-out” refinance of the subject 

first lien mortgage property. 

o Refinancing for the sole purpose of obtaining a new 

interest rate and loan term is permissible. 

o Costs associated with the first mortgage refinance 

may be financed in the new loan. 

o Junior liens used to purchase the subject property 

first mortgage property are not excluded from 

eligibility. 

• Stand-alone second liens including home equity lines of 

credit are considered “cash-out.” Borrowers with junior 

liens that meet this description are not eligible for program 

assistance. 

8. Structure of 

Assistance 

TAP assistance will not be structured as a loan. 

After December 31, 2017, any remaining or returned funds will be 

returned to Treasury. 

9. Per Household 

Assistance 

Up to $5,000 per household (average funding of $5,000.00). 

10. Duration of 

Assistance 

Available on a one-time only basis, per household. 

11. Estimated 

Number of 

Participating 

Households 

Approximately 6,460. This figure is based on loans with unpaid 

principal balances ranging from $200,000 to $400,000 with an 

average funding of $5,000.00. 

12. Program 

Inception / 

Duration 

TAP will be available to borrowers no later than November 1, 2010 

and will last up to three (3) years or until funding is fully reserved. 

13. Program Leverage

with Other HFA 

Programs 

TAP benefits may be available to the borrower even if UMA, 

MRAP and/or PRP benefits have been utilized, subject to the HHF 

Program maximum benefit cap of $50,000. 

14. Program 

Interactions with 

HAMP 

TAP complements HAMP and HAFA. The funds will leverage 

monies being made available through HAFA. Servicer is required to 

follow HAFA guidelines for allowable costs. In cases where the 

Servicer has approved the borrower for a HAFA transaction, TAP 

dollars will be limited to $2,000 in order to maintain the $5,000 

HHF Program maximum per household.

15. Program Leverage 

with Other 

Financial 

Resources 

None. 

16. Qualify as an 

Unemployment 

Program 

 Yes ; No 
TAMPA/134096.3

SCHEDULE C

PERMITTED EXPENSES

California 

 

 One-time / Start-Up Expenses: 

Initial Personnel $304,453.29

Building, Equipment, Technology $109,254.56

Professional Services $2,841,658.00

Supplies / Miscellaneous $25,500.00

Marketing /Communications $212,941.36

Travel $27,500.00

Website development /Translation $0.00

Contingency $3,681,530.44

 Subtotal $7,202,837.65

 

Operating / Administrative 

Expenses: 

Salaries $2,611,419.00

Professional Services (Legal, 

Compliance, Audit, Monitoring) 

$51,211,989.00

Travel $178,750.00

Buildings, Leases & Equipment $219,744.00

Information Technology & 

Communications 

$199,370.00

Office Supplies/Postage and 

Delivery/Subscriptions 

$59,500.00

Risk Management/ Insurance $65,200.00

Training $0.00

Marketing/PR $435,000.00

Miscellaneous $90,000.00

 Subtotal $55,070,972.00

 

 Transaction Related Expenses: 

Recording Fees $9,407,169.60

Wire Transfer Fees $2,937,285.00

 Counseling Expenses 

File Intake $10,500,000.00

Decision Costs $3,071,016.00

Successful File $0.00

Key Business Partners On-Going $0.00

 Subtotal $25,915,470.60

 

 Grand Total $88,189,280.25

% of Total Award 7.50%

Award Amount $1,175,857,070.00