HARDEST HIT FUND

Second Quarter 2016 Performance Summary
90+ Delinquency: Percentage of serviced loans 90 days or more past due or in the process of foreclosure (Source: Mortgage 

Bankers Association’s National Delinquency Survey)

Unemployment Rate: Ratio of unemployed to the civilian labor force (Source: Bureau of Labor Statistics)

Program Funds: Program funds are equal to the HFA’s total HHF allocation cap less permitted administrative expenses

Funds Disbursed: Funds HFAs have disbursed on behalf of homeowners participating in HHF programs

Funds Committed: Funds HFAs have committed to homeowners who have been approved to participate in HHF programs that 

are anticipated to be disbursed over the duration of their participation; HFAs vary as to when and how they 

capture and report funds as committed

Homeowners Assisted: Eligible homeowners who have received financial assistance under one or more HHF programs. Does not 

include borrowers assisted under down payment programs or structures removed under blight elimination 

programs.

Assistance Provided: Amount of financial assistance provided under HHF programs (equal to funds disbursed).

HARDEST HIT FUND QUARTERLY PERFORMANCE SUMMARY

Background and Glossary of Terms

• In 2010, The Hardest Hit Fund (HHF) provided $7.6 billion to 18 states and the District of Columbia to assist struggling 

homeowners through locally tailored programs administered by each respective housing finance agency (HFA) in order to help 

prevent foreclosures and stabilize housing markets. These areas were designated “hardest hit” because they experienced steep 

home price declines and/or severe unemployment in the economic downturn.

• On February 19, 2016, Treasury announced the extension of HHF through December 31, 2020, and an additional $2 billion to 

allocate to the programs, for a total allocation of $9.6 billion. HFAs may choose to re-open select, closed programs or propose 

new programs as these funds become available.

• HFAs report program performance on a quarterly basis. This Quarterly Performance Summary is intended to serve as an 

additional resource for Hardest Hit Fund program information, performance data, and key economic and loan performance 

indicators. For more detailed information, including any reporting corrections or revisions that occurred subsequent to the 

quarter end, please see the official quarterly report posted on each HFA’s website accessible on the “State-by-State Information” 

page found here: www.treasury.gov/HHF.

Terms used in this Summary:

2
HARDEST HIT FUND

TOTAL ALLOCATION: $9.6 billion

DESCRIPTION:

• HFAs have implemented a number of different programs to help 

homeowners, including mortgage payment assistance, reinstatement, 

short sale/transition assistance, principal reduction and modification 

assistance, down payment assistance, and blight elimination programs.

• As of June 30, 2016, there were 80 active programs across the 19 

HFAs. Approximately 62 percent of total program funds have been 

targeted to help un- and underemployed homeowners, primarily 

through reinstatement and programs that help homeowners pay their 

mortgage while looking for work.

• In the aggregate, states have drawn $6.6 billion of their program 

funds from Treasury (68% of program cap).

3

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

June 2015

Cumulative 

Program Funds 

Disbursed

June 2016

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program

Funds 

Disbursed (%)

$4.26 billion $5.26 billion 23.5% 5.2%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

June 2015

Cumulative 

Homeowners 

Assisted 

June 2016

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

234,497 263,002 12.2% 2.6%

National Economic and Loan Performance Indicators

Unemployment 

Rate 

June 2015

Unemployment 

Rate 

June 2016

90+ Delinquency 

June 2015

90+ Delinquency 

June 2016

5.3% 4.9% 4.0% 3.1%

www.treasury.gov/HHF

All information as of June 30, 2016

Homeowners Assisted and Assistance Provided

As of June 30, 2016

0

50,000

100,000

150,000

200,000

250,000

300,000

$0

$1,000

$2,000

$3,000

$4,000

$5,000

$6,000

2012 2013 2014 2015 Q1 2016 Q2 2016

Homeowners Assisted Assistance Provided

$5.3 billion
HARDEST HIT FUND

TOTAL ALLOCATION: $9.6 billion

4

All information as of June 30, 2016

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

OR SC CA TN RI OH NC NJ FL KY HHF DC MI MS IL AZ IN NV GA AL

Assistance Provided as a Percent of Program Allocation

Assistance Provided 6/30/15 Assistance Provided 6/30/15 - 6/30/16
ALABAMA

Alabama Hardest Hit Fund

Total Allocation = $162.5 million

PROGRAMS:

• Unemployment Assistance Program – Provides monthly 

mortgage payments and reinstatement assistance on behalf of 

homeowners who are unable to afford their monthly mortgage 

payment due an employment-related or other eligible financial 

hardship. 

• Short Sale Assistance Program – Provides assistance to 

facilitate a short sale for homeowners who are no longer able 

to afford their home. 

• Loan Modification Assistance Program – Provides principal 

reduction assistance to facilitate a modification, recast, or fully 

extinguish low-balance liens for eligible homeowners. The 

assistance must result in an affordable monthly mortgage 

payment.

• Blight Elimination Program – Prevents foreclosures through 

the demolition, greening, and ongoing maintenance of vacant 

and abandoned blighted residential properties throughout the 

state. 

RECENT ACTIVITY:

• In June, Alabama expanded eligibility under its unemployment 

program and allocated additional funding to its Blight 

Elimination Program. Alabama did not receive an additional 

funding allocation in the Fifth Round.

• Alabama has drawn approximately $57.0 million from 

Treasury as of June 30, 2016.

5

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

June 2015

Cumulative 

Program Funds 

Disbursed

June 2016

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$33.0 million $39.2 million 18.9% 5.0%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

June 2015

Cumulative 

Homeowners 

Assisted 

June 2016

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

4,093 4,765 16.4% 3.7%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

June 2015

Unemployment 

Rate 

June 2016

90+ Delinquency 

June 2015

90+ Delinquency 

June 2016

6.1% 6.0% 4.0% 3.2%

For more details, visit: http://www.hardesthitalabama.com 

All information as of June 30, 2016
ARIZONA

Save Our Home Arizona

Total Allocation = $296.0 million

PROGRAMS:

• Principal Reduction Assistance – Provides principal reduction to 

facilitate a mortgage modification, recast, or a HARP or other 

eligible refinance. Principal curtailment may be available for nondelinquent, severely underwater homeowners.

• Second Mortgage Assistance – Provides funds to eliminate 

second mortgages to enable a first mortgage modification or a 

short sale.

• Unemployment/Underemployment/Reinstatement Mortgage 

Assistance – Provides monthly mortgage payments and/or 

reinstatement assistance on behalf of unemployed or 

underemployed homeowners. Homeowners must contribute a 

portion of their monthly income.

• Short Sale Assistance – Provides assistance to facilitate a short 

sale, including closing costs and/or lien extinguishment. A limited 

amount of funds may be paid directly to the homeowner for 

transition assistance. Assistance may also be used to facilitate a 

short sale with lease-to-own option on select transactions.

• Down Payment Assistance Program – Prevents foreclosures by 

stimulating home purchase activity and stabilizing neighborhoods 

in targeted areas that continue to demonstrate high levels of 

housing market distress.

RECENT ACTIVITY:

• In June, Arizona allocated new Fifth Round funding into its Down 

Payment Assistance Program to stimulate market activity and 

prevent avoidable foreclosures in neighborhoods struggling to 

recover.

• Arizona has drawn approximately $204.3 million from Treasury as 

of June 30, 2016.

6

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

June 2015

Cumulative 

Program Funds 

Disbursed

June 2016

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$100.5 million $135.0 million 34.3% 9.3%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

June 2015

Cumulative 

Homeowners 

Assisted 

June 2016

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

3,891 4,473 15.0% 2.8%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

June 2015

Unemployment 

Rate 

June 2016

90+ Delinquency 

June 2015

90+ Delinquency 

June 2016

6.0% 5.8% 1.9% 1.4%

For more details, visit: https://www.savemyhomeaz.gov

All information as of June 30, 2016
CALIFORNIA

Keep Your Home California

Total Allocation = $2.359 billion

PROGRAMS:

• Unemployment Mortgage Assistance Program – Provides 

monthly mortgage payment assistance on behalf of 

unemployed or underemployed homeowners.

• Mortgage Reinstatement Assistance Program – Provides 

assistance to reinstate a delinquent mortgage.

• Principal Reduction Program – Provides principal reduction 

with a loan recast or modification with a rate reduction; may 

provide principal curtailment for homeowners with severe 

negative equity.

• Transition Assistance Program – Provides relocation 

assistance in conjunction with a deed-in-lieu or short sale.

• Community 2nd Mortgage Principal Reduction Program 

(Closed) – Provides matched principal reduction to reduce or 

eliminate second mortgages or subordinate liens. C2MPRP is 

administered by Community HousingWorks. 

• Reverse Mortgage Assistance Pilot Program – Provides 

funds to reinstate delinquent property taxes or liens for eligible 

homeowners who have received the maximum benefit from 

their reverse mortgages.

RECENT ACTIVITY:

• In the second quarter, California allocated new Fifth Round 

funding into its unemployment, reinstatement, principal 

reduction, and transition assistance programs.

• California has drawn approximately $1.86 billion from 

Treasury as of June 30, 2016.

7

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

June 2015

Cumulative 

Program Funds 

Disbursed

June 2016

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$1.04 billion $1.41 billion 35.5% 6.7%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

June 2015

Cumulative 

Homeowners 

Assisted 

June 2016

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

51,612 61,242 18.7% 4.1%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

June 2015

Unemployment 

Rate 

June 2016

90+ Delinquency 

June 2015

90+ Delinquency 

June 2016

6.2% 5.4% 2.1% 1.6%

For more details, visit: http://www.keepyourhomecalifornia.org 

All information as of June 30, 2016
DISTRICT OF COLUMBIA

HomeSaver Program – Closed to New Applicants

Total Allocation = $28.7 million

PROGRAMS: 

HomeSaver includes the following:

• Lifeline – Provides one-time reinstatement assistance to bring 

a delinquent mortgage current for unemployed or 

underemployed homeowners. Homeowners must have 

received unemployment benefits within 6 months of applying 

or be earning substantially less income compared to their 

income prior to experiencing a financial hardship. 

• Mortgage Assistance – Provides monthly payment assistance 

on behalf of unemployed or underemployed homeowners who 

are unable to afford their monthly payments. 

• Restore – Provides one-time reinstatement assistance on 

behalf of previously unemployed or underemployed 

homeowners who are currently or newly able to afford their 

monthly mortgage payments.

• Tax Lien Extinguishment – Provides one-time assistance to 

extinguish delinquent real property taxes for eligible District of 

Columbia homeowners.

RECENT ACTIVITY:

• In the second quarter, DC allocated new Fifth Round funding 

into its HomeSaver program. DC plans to make changes, and 

to re-open HomeSaver to new applicants later this year.

• DC has drawn approximately $18.2 million from Treasury as 

of June 30, 2016.

8

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

June 2015

Cumulative 

Program Funds 

Disbursed

June 2016

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$13.7 million $13.8 million 1.1% 0.3%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

June 2015

Cumulative 

Homeowners 

Assisted 

June 2016

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

703 709 0.9% 0.3%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

June 2015

Unemployment 

Rate 

June 2016

90+ Delinquency 

June 2015

90+ Delinquency 

June 2016

6.9% 5.9% 4.7% 4.1%

For more details, visit: https://www.homesaverdc.org

All information as of June 30, 2016
FLORIDA

Florida Hardest-Hit Fund

Total Allocation = $1.136 billion

PROGRAMS:

• Unemployment Mortgage Assistance Program – Provides 

monthly payment assistance on behalf of homeowners who 

are unable to afford their monthly mortgage payment due an 

eligible financial hardship. 

• Mortgage Loan Reinstatement Program – Provides 

assistance to reinstate a delinquent mortgage.

• Modification Enabling Pilot Program – Provides funds to 

facilitate modifications for eligible distressed mortgages. 

Principal reduction may be matched with non-program funds 

to facilitate a mortgage modification.

• Principal Reduction Program – Provides principal 

reduction for a current homeowner with a loan recast or 

refinance to reduce a homeowner’s monthly payment.

• Elderly Mortgage Assistance Program – Provides funds to 

reinstate delinquent property taxes or liens for eligible 

homeowners who have received the maximum benefit from 

their reverse mortgages.

• Down Payment Assistance Program – Prevents 

foreclosures by stimulating home purchase activity and 

stabilizing neighborhoods in targeted areas that continue to 

demonstrate high levels of housing market distress.

RECENT ACTIVITY:

• In May, Florida allocated new Fifth Round funding into its 

Down Payment Assistance Program to stimulate market 

activity and prevent avoidable foreclosures in neighborhoods 

struggling to recover.

• Florida has drawn approximately $744.0 million from 

Treasury as of June 30, 2016.

9

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

June 2015

Cumulative 

Program Funds 

Disbursed

June 2016

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$520.7 million $639.1 million 22.7% 6.7%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

June 2015

Cumulative 

Homeowners 

Assisted 

June 2016

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

23,234 26,350 13.4% 3.0%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

June 2015

Unemployment 

Rate 

June 2016

90+ Delinquency 

June 2015

90+ Delinquency 

June 2016

5.3% 4.7% 6.6% 4.5%

For more details, visit: https://www.flhardesthithelp.org

All information as of June 30, 2016
GEORGIA

HomeSafe Georgia

Total Allocation = $370.1 million

PROGRAMS:

• Mortgage Payment Assistance – Provides monthly 

payment assistance on behalf of unemployed or 

underemployed homeowners who are unable to afford their 

monthly payment. A homeowner may be eligible to receive 

additional assistance after reemployment. One-time 

reinstatement assistance may be available for homeowners 

who have regained employment and can afford their 

monthly mortgage payments but are unable to cure their 

mortgage delinquency.

• Mortgage Reinstatement Assistance – Provides assistance 

to reinstate a delinquent mortgage.

• Recast/Modification – Provides principal reduction with a 

loan recast or permanent modification to create an 

affordable mortgage payment.

RECENT ACTIVITY:

• In the second quarter, Georgia allocated new Fifth Round 

funding into its Recast/Modification program. 

• Georgia has drawn approximately $194.0 million from 

Treasury as of June 30, 2016.

10

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

June 2015

Cumulative 

Program Funds 

Disbursed

June 2016

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$119.7 million $150.9 million 26.1% 5.2%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

June 2015

Cumulative 

Homeowners 

Assisted 

June 2016

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

6,686 8,120 21.4% 3.9%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

June 2015

Unemployment 

Rate 

June 2016

90+ Delinquency 

June 2015

90+ Delinquency 

June 2016

5.8% 5.1% 3.7% 2.9%

For more details, visit: https://www.homesafegeorgia.com 

All information as of June 30, 2016
ILLINOIS

Illinois Hardest Hit Program – HELP Closed to New Applicants

Total Allocation = $715.1 million

PROGRAMS:

• Homeowner Emergency Loan Program – Provides

monthly mortgage payment and reinstatement assistance on 

behalf of homeowners who are unable to afford their monthly 

payment due to an eligible financial hardship. 

• Mortgage Resolution Fund Program (Closed) – Through a 

public-private partnership, provides funds to facilitate 

modifications of delinquent and distressed mortgages 

purchased from lenders. Modified/rehabilitated loans are 

subsequently sold. This buy-and-modify program targets six 

Chicago metro area counties.

• Home Preservation Program – Provides principal reduction 

with reinstatement assistance (as needed) to facilitate a 

refinance, recast, or permanent mortgage modification.

• Blight Reduction Program – Prevents foreclosures through 

the demolition, greening, and ongoing maintenance of vacant 

and abandoned blighted residential properties throughout the 

state.

• Down Payment Assistance Program – Prevents 

foreclosures by stimulating home purchase activity and 

stabilizing neighborhoods in targeted areas that continue to 

demonstrate high levels of housing market distress.

RECENT ACTIVITY:

• In the second quarter, Illinois allocated new Fifth Round 

funding into its various programs, and refocused its Home 

Preservation Program to facilitate affordable refinances. 

Illinois plans to reopen its HELP and HPP programs in the 

third quarter of 2016.

• Illinois has drawn approximately $445.6 million from 

Treasury as of June 30, 2016.

11

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

June 2015

Cumulative 

Program Funds 

Disbursed

June 2016

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$326.5 million $357.0 million 9.3% 3.1%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

June 2015

Cumulative 

Homeowners 

Assisted 

June 2016

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

13,868 13,972 0.7% 0.0%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

June 2015

Unemployment 

Rate 

June 2016

90+ Delinquency 

June 2015

90+ Delinquency 

June 2016

5.8% 6.2% 4.9% 3.7%

For more details, visit: https://www.illinoishardesthit.org

All information as of June 30, 2016
INDIANA

Indiana Hardest Hit Fund

Total Allocation = $283.7 million

PROGRAMS:

• Unemployment Bridge Program – Provides monthly 

mortgage payment and reinstatement assistance on behalf of 

unemployed homeowners. Reinstatement-only assistance may 

be available for recently re-employed homeowners.

• Recast/Modification Program – Provides principal reduction 

and/or reinstatement assistance as a one-time payment to 

facilitate a loan recast or permanent loan modification.

• Transition Assistance Program – Provides relocation 

assistance for homeowner expenses and the extinguishment of 

subordinate liens associated with a short sale or deed-in-lieu.

• Blight Elimination Program – Prevents foreclosures through 

the demolition, greening, and ongoing maintenance of vacant 

and abandoned blighted residential properties throughout the 

state.

RECENT ACTIVITY:

• In the second quarter, Indiana allocated new Fifth Round 

funding into its Unemployment Bridge Program. 

• Indiana has drawn approximately $196.6 million from 

Treasury as of June 30, 2016.

12

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

June 2015

Cumulative 

Program Funds 

Disbursed

June 2016

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$74.8 million $126.7 million 69.4% 13.5%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

June 2015

Cumulative 

Homeowners 

Assisted 

June 2016

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

5,718 7,913 38.4% 6.5%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

June 2015

Unemployment 

Rate 

June 2016

90+ Delinquency 

June 2015

90+ Delinquency 

June 2016

4.7% 4.8% 4.4% 3.5%

For more details, visit: http://www.877gethope.org.

All information as of June 30, 2016
KENTUCKY

Protect My Kentucky Home

Total Allocation = $207.0 million

PROGRAMS:

• Kentucky Unemployment Bridge Program – Provides 

monthly mortgage payment and reinstatement assistance on 

behalf of unemployed, substantially underemployed, or 

qualified disabled homeowners who are delinquent on their 

mortgages. Assistance may be provided for up to two months 

following re-employment or substantially increased 

employment. 

• Hardest Hit Fund Down Payment Assistance Program –

Prevents foreclosures by stimulating home purchase activity 

and stabilizing neighborhoods in targeted areas that continue 

to demonstrate high levels of housing market distress.

RECENT ACTIVITY:

• In the second quarter, Kentucky allocated new Fifth Round 

funding into its Unemployment Bridge Program (UBP) and 

Down Payment Assistance Program (DAP). Kentucky reopened UBP in May, and plans to re-open DAP as funds 

become available.

• Kentucky has drawn approximately $144.5 million from 

Treasury as of June 30, 2016.

13

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

June 2015

Cumulative 

Program Funds 

Disbursed

June 2016

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$89.2 million $118.1 million 32.4% 5.6%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

June 2015

Cumulative 

Homeowners 

Assisted 

June 2016

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

6,992 8,330 19.1% 3.6%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

June 2015

Unemployment 

Rate 

June 2016

90+ Delinquency 

June 2015

90+ Delinquency 

June 2016

5.3% 5.0% 4.0% 3.3%

For more details, visit: http://www.protectmykyhome.org

All information as of June 30, 2016
MICHIGAN

Step Forward Michigan

Total Allocation = $761.2 million

PROGRAMS:

• Principal Curtailment Program (Closed) – Provides 

principal reduction with a 1:1 match from the servicer or 

lender to facilitate a mortgage modification. 

• Loan Rescue Program – Provides assistance to reinstate a 

delinquent mortgage; funds may be applied to delinquent 

escrow fees, property taxes, and other arrearage fees.

• Unemployment Mortgage Subsidy Program – Provides 

monthly mortgage payment and reinstatement assistance on 

behalf of unemployed and underemployed homeowners. 

Homeowners must contribute a portion of their monthly 

income. 

• Modification Plan Program – Provides assistance to facilitate 

a mortgage modification or recast.

• Blight Elimination Program – Prevents foreclosures through 

the demolition, greening, and ongoing maintenance of vacant 

and abandoned blighted residential properties in targeted 

municipalities throughout the state. 

RECENT ACTIVITY:

• In the second quarter, Michigan allocated new Fifth Round 

funding into its Blight Elimination and Loan Rescue programs. 

Michigan re-opened its application portal in May.

• Michigan has drawn approximately $498.6 million from 

Treasury as of June 30, 2016.

14

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

June 2015

Cumulative 

Program Funds 

Disbursed

June 2016

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$274.7 million $392.8 million 43.0% 5.5%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

June 2015

Cumulative 

Homeowners 

Assisted 

June 2016

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

26,865 31,607 17.7% 3.0%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

June 2015

Unemployment 

Rate 

June 2016

90+ Delinquency 

June 2015

90+ Delinquency 

June 2016

5.3% 4.6% 2.7% 2.0%

For more details, visit: https://www.stepforwardmichigan.org

All information as of June 30, 2016
MISSISSIPPI

Mississippi Home Saver Program

Total Allocation = $144.3 million

PROGRAMS: 

Mississippi Home Saver includes the following:

• Mortgage Payment Assistance – Provides reinstatement and 

monthly mortgage payment assistance on behalf of 

homeowners who are at risk of default or losing their home 

due to unemployment or other eligible financial hardship.

• Mortgage Payment Assistance with Education (Closed) –

Provides additional assistance for homeowners who enroll in 

an eligible education program to improve their job skills. 

Borrowers in distressed counties may be eligible for additional 

assistance following completion of the educational program. 

• Reinstatement Only – Provides reinstatement assistance for 

homeowners who have recently regained employment. 

Assistance may be applied to delinquent mortgage payments, 

property taxes, and/or escrow shortage fees.

RECENT ACTIVITY:

• In the second quarter, Mississippi allocated its Fifth Round 

funding to Mortgage Payment Assistance program. 

• Mississippi has drawn approximately $82.5 million from 

Treasury as of June 30, 2016.

15

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

June 2015

Cumulative 

Program Funds 

Disbursed

June 2016

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$53.7 million $69.4 million 29.3% 5.5%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

June 2015

Cumulative 

Homeowners 

Assisted 

June 2016

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

3,344 3,829 14.5% 3.9%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

June 2015

Unemployment 

Rate 

June 2016

90+ Delinquency 

June 2015

90+ Delinquency 

June 2016

6.4% 5.9% 5.0% 4.1%

For more details, visit: http://www.mshomesaver.com

All information as of June 30, 2016
NEVADA

Nevada Hardest Hit Fund

Total Allocation = $202.9 million

PROGRAMS:

• Principal Reduction Program – Provides principal reduction 

assistance to facilitate a mortgage modification, recast, or a 

HARP or other eligible refinance. Principal curtailment may be 

available for severely underwater homeowners who are current 

on their mortgage payments.

• Second Mortgage Reduction Plan – Reduces or extinguishes a 

second mortgage balance to facilitate a refinance or modification 

of the primary mortgage or a short sale.

• Short Sale Acceleration Program (Closed) – Provides 

transition assistance for a homeowner who has been lenderapproved for a short sale or deed-in-lieu.

• Mortgage Assistance Program – Provides reinstatement 

assistance on behalf of homeowners with an employment-related 

hardship.

• Mortgage Assistance Program Alternative (Closed) – Provides 

monthly mortgage payment and reinstatement assistance for 

homeowners on a fixed income due to retirement or disability. 

Homeowners must contribute a minimum partial payment.

RECENT ACTIVITY:

• In the second quarter, Nevada allocated new Fifth Round funding 

into its Principal Reduction Program, and made changes to its 

program leadership and operational structure.

• Nevada has drawn approximately $112.0 million from Treasury 

as of June 30, 2016.

16

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

June 2015

Cumulative 

Program Funds 

Disbursed

June 2016

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$87.0 million $90.8 million 4.4% 0.7%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

June 2015

Cumulative 

Homeowners 

Assisted 

June 2016

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

5,306 5,397 1.7% 0.3%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

June 2015

Unemployment 

Rate 

June 2016

90+ Delinquency 

June 2015

90+ Delinquency 

June 2016

6.8% 6.4% 5.1% 3.9%

For more details, visit: http://www.nahac.org 

All information as of June 30, 2016
NEW JERSEY

New Jersey HomeKeeper Program – Closed to New Applicants

Total Allocation = $415.1 million

PROGRAMS:

• New Jersey HomeKeeper Program – Provides reinstatement 

and monthly mortgage payment assistance on behalf of 

unemployed and underemployed homeowners at risk of 

imminent default. Homeowners must also be in the process of 

seeking work or job training that will enable them to resume 

making their mortgage payments in full.

• New Jersey Home Saver Program – Provides principal 

reduction and/or reinstatement assistance to facilitate a 

refinance, recast, or permanent mortgage modification.

RECENT ACTIVITY:

• In the second quarter, New Jersey allocated new Fifth Round 

funding into its HomeKeeper program. New Jersey plans to reopen their HomeKeeper program later this year.

• New Jersey has drawn approximately $270.5 million from 

Treasury as of June 30, 2016.

17

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

June 2015

Cumulative 

Program Funds 

Disbursed

June 2016

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$222.3 million $237.0 million 6.6% 1.8%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

June 2015

Cumulative 

Homeowners 

Assisted 

June 2016

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

6,004 6,115 1.8% 1.0%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

June 2015

Unemployment 

Rate 

June 2016

90+ Delinquency 

June 2015

90+ Delinquency 

June 2016

5.6% 5.1% 10.2% 8.4%

For more details, visit: http://www.njhomekeeper.gov 

All information as of June 30, 2016
NORTH CAROLINA

NC Foreclosure Prevention Fund

Total Allocation = $706.5 million

PROGRAMS: 

• Mortgage Payment Program – Provides monthly mortgage 

payment and reinstatement assistance on behalf of unemployed 

and other eligible homeowners who are unable to afford their 

monthly mortgage payments. Homeowners who are in job 

training/education programs may receive an extended term of 

assistance. Reinstatement is available for eligible homeowners 

who have regained employment and can afford their monthly 

payment provided they can bring their mortgage current.

• Second Mortgage Refinance Program – Provides assistance for 

the extinguishment of second mortgages to reduce the 

homeowner’s monthly mortgage payment and to facilitate a first 

mortgage refinance or HAMP modification.

• Modification Enabling Pilot Program – Provides funds to 

facilitate modifications for eligible mortgages purchased in a 

distressed asset sale. Principal reduction may be matched with 

non-program funds to facilitate a mortgage modification.

• Principal Reduction Recast/Lien Extinguishment for 

Unaffordable Mortgages Program – Provides principal 

reduction assistance to facilitate a recast or fully extinguish lowbalance liens for eligible homeowners.

• Down Payment Assistance Program – Prevents foreclosures by 

stimulating home purchase activity and stabilizing neighborhoods 

in targeted areas that continue to demonstrate high levels of 

housing market distress.

RECENT ACTIVITY:

• In the second quarter, North Carolina allocated new Fifth Round 

funding into its various programs. 

• North Carolina has drawn approximately $482.8 million from 

Treasury as of June 30, 2016.

18

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

June 2015

Cumulative 

Program Funds 

Disbursed

June 2016

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$321.5 million $394.9 million 22.8% 5.9%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

June 2015

Cumulative 

Homeowners 

Assisted 

June 2016

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

19,860 22,300 12.3% 2.9%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

June 2015

Unemployment 

Rate 

June 2016

90+ Delinquency 

June 2015

90+ Delinquency 

June 2016

5.8% 4.9% 3.2% 2.5%

For more details, visit: http://www.ncforeclosureprevention.gov 

All information as of June 30, 2016
OHIO

Save the Dream Ohio – Closed to New Applicants

Total Allocation = $762.2 million

PROGRAMS: 

• Rescue Payment Assistance Program – Provides 

reinstatement assistance to cure a mortgage delinquency.

• Mortgage Payment Assistance Program – Provides monthly 

mortgage payment assistance on behalf of unemployed and 

underemployed homeowners.

• Modification with Contribution Assistance – Provides 

assistance to facilitate a permanent mortgage modification.

• Lien Elimination Assistance – Provides assistance to 

extinguish mortgage liens to create an affordable payment.

• Transition Assistance Program – Provides relocation 

assistance and the extinguishment of liens associated with a 

short sale or deed-in-lieu. 

• Homeowner Retention Assistance – Provides assistance to 

extinguish subordinate liens and ancillary property expenses.

• Homeowner Stabilization Assistance Program – Leverages 

HHF funds and private capital to facilitate modifications for 

eligible mortgages purchased in a distressed asset sale.

• Neighborhood Initiative Program – Prevents foreclosures 

through the demolition, greening, and ongoing maintenance of 

vacant and abandoned blighted residential properties.

RECENT ACTIVITY:

• In the second quarter, Ohio allocated new Fifth Round funding 

into its various programs. Ohio plans to re-open its Mortgage 

Payment and Rescue Payment assistance programs later this 

year.

• Ohio has drawn approximately $540.4 million from Treasury as 

of June 30, 2016.

19

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

June 2015

Cumulative 

Program Funds 

Disbursed

June 2016

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$419.2 million $456.6 million 8.9% 2.4%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

June 2015

Cumulative 

Homeowners 

Assisted 

June 2016

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

24,521 24,533 0.0% 0.0%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

June 2015

Unemployment 

Rate 

June 2016

90+ Delinquency 

June 2015

90+ Delinquency 

June 2016

4.8% 5.0% 4.6% 3.8%

For more details, visit: http://ohiohome.org/savethedream 

All information as of June 30, 2016
OREGON

Oregon Homeownership Stabilization Initiative – MPA and LPA Programs Closed to New Applicants

Total Allocation = $314.6 million

PROGRAMS: 

• Mortgage Payment Assistance Program – Provides monthly 

mortgage payment assistance on behalf of unemployed and 

underemployed homeowners.

• Loan Preservation Assistance Program – Provides 

reinstatement for delinquent mortgages, property taxes or other 

eligible property charges. Mortgage reinstatement under LPA 

may be combined with Mortgage Payment Assistance. 

• Loan Refinancing Assistance Pilot Project – Provides for the 

purchase of underwater mortgages at a discounted price to 

facilitate a modification, refinance, or a short sale. 

• Rebuilding American Homeownership Assistance Pilot 

Project – Provides assistance to underwater homeowners 

statewide to facilitate a refinance with lower monthly mortgage 

payments.

RECENT ACTIVITY: 

• In the second quarter, Oregon allocated new Fifth Round 

funding into its Mortgage Payment Assistance (MPA) and 

Loan Preservation Assistance (LPA) programs. Oregon 

additionally added tax lien extinguishment and reverse 

mortgage reinstatement components to their LPA Program. 

Oregon plans to re-open its LPA and MPA programs later this 

year.

• Oregon has drawn approximately $220.0 million from 

Treasury as of June 30, 2016.

20

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

June 2015

Cumulative 

Program Funds 

Disbursed

June 2016

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$191.7 million $202.9 million 5.8% 1.1%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

June 2015

Cumulative 

Homeowners 

Assisted 

June 2016

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

11,759 11,796 0.3% 0.1%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

June 2015

Unemployment 

Rate 

June 2016

90+ Delinquency 

June 2015

90+ Delinquency 

June 2016

5.8% 4.8% 3.5% 2.5%

For more details, visit: http://www.oregonhomeownerhelp.org 

All information as of June 30, 2016
RHODE ISLAND

Hardest Hit Fund Rhode Island – Closed to New Applicants

Total Allocation = $116.0 million

PROGRAMS: 

• Loan Modification Assistance – Provides assistance to facilitate 

mortgage modifications for homeowners who are ineligible for 

HAMP or other modifications. Homeowners must contribute a 

minimum partial payment each month.

• Temporary and Immediate Homeowner Assistance – Provides 

reinstatement or other mortgage-related default assistance, or 

monthly mortgage payments on behalf of homeowners 

experiencing a temporary loss of income. Homeowners must 

contribute a minimum partial payment each month.

• Moving Forward Assistance – Provides relocation assistance and 

the extinguishment of liens associated with a short sale or deed-inlieu. 

• Mortgage Payment Assistance – Unemployment Program –

Provides monthly mortgage payment and reinstatement assistance 

on behalf of unemployed or underemployed homeowners. 

Homeowners must contribute a minimum partial payment each 

month.

• Principal Reduction Program – Provides principal reduction for 

underwater homeowners with a 1:1 match from the servicer or 

lender to facilitate a mortgage modification.

• Down Payment Assistance Program – Prevents foreclosures by 

stimulating home purchase activity for distressed properties in 

targeted areas that continue to demonstrate high levels of housing 

market distress.

RECENT ACTIVITY:

• In the second quarter, Rhode Island allocated new Fifth Round 

funding into its various programs. Rhode Island plans to re-open its 

HHFRI portal and re-launch programs in the third quarter.

• Rhode Island has drawn approximately $79.4 million from 

Treasury as of June 30, 2016.

21

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

June 2015

Cumulative 

Program Funds 

Disbursed

June 2016

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$64.3 million $65.5 million 1.9% 1.2%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

June 2015

Cumulative 

Homeowners 

Assisted 

June 2016

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

3,075 3,075 0.0% 0.0%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

June 2015

Unemployment 

Rate 

June 2016

90+ Delinquency 

June 2015

90+ Delinquency 

June 2016

6.0% 5.5% 5.3% 4.2%

For more details, visit: http://www.hhfri.org

All information as of June 30, 2016
SOUTH CAROLINA

South Carolina Homeownership and Employment Lending Program (SC HELP)

Total Allocation = $317.5 million

PROGRAMS:

• Monthly Payment Assistance Program – Provides monthly 

mortgage payment assistance for eligible households that are 

experiencing a temporary reduction in income or financial 

hardship.

• Direct Loan Assistance Program – Provides reinstatement 

assistance, principal reduction, or forbearance 

reduction/elimination for homeowners who experienced a 

financial hardship but have regained the ability to pay their 

mortgage.

• Modification Assistance Program – Provides principal 

reduction assistance to facilitate a recast or fully extinguish 

low-balance liens for eligible homeowners.

• Property Disposition Assistance Program – Provides 

assistance to offset relocation expenses incurred in 

conjunction with a short sale or deed-in-lieu.

• Neighborhood Initiative Program – Prevents foreclosures 

through the demolition, greening, and ongoing maintenance 

of vacant and abandoned blighted residential properties.

RECENT ACTIVITY:

• In the second quarter, South Carolina allocated new Fifth 

Round funding into its Monthly Payment Assistance and 

Direct Loan Assistance programs. 

• South Carolina has drawn approximately $212.5 million from 

Treasury as of June 30, 2016.

22

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

June 2015

Cumulative 

Program Funds 

Disbursed

June 2016

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$144.1 million $176.0 million 22.2% 4.7%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

June 2015

Cumulative 

Homeowners 

Assisted 

June 2016

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

9,611 11,121 15.7% 3.6%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

June 2015

Unemployment 

Rate 

June 2016

90+ Delinquency 

June 2015

90+ Delinquency 

June 2016

5.9% 5.4% 3.9% 3.1%

For more details, visit: http://www.schelp.gov

All information as of June 30, 2016
TENNESSEE

Keep My Tennessee Home – Closed to New Applicants

Total Allocation = $302.1 million

PROGRAMS:

• Hardest Hit Fund Program – Provides monthly mortgage 

payment and reinstatement assistance on behalf of 

homeowners who are delinquent on their mortgages as a 

result of unemployment, substantial underemployment, 

death of a spouse, or divorce. Re-employed homeowners 

may qualify for stand-alone reinstatement assistance. 

• Blight Elimination Program – Prevents foreclosures 

through the demolition, greening, and ongoing maintenance 

of vacant and abandoned blighted residential properties.

RECENT ACTIVITY:

• In the second quarter, Tennessee allocated new Fifth Round 

funding into its various programs. 

• Tennessee has drawn approximately $198.3 million from 

Treasury as of June 30, 2016.

23

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

June 2015

Cumulative 

Program Funds 

Disbursed

June 2016

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$157.3 million $177.4 million 12.8% 1.8%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

June 2015

Cumulative 

Homeowners 

Assisted 

June 2016

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

7,355 7,355 0.0% 0.0%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

June 2015

Unemployment 

Rate 

June 2016

90+ Delinquency 

June 2015

90+ Delinquency 

June 2016

5.7% 4.1% 3.4% 2.6%

For more details, visit: http://www.keepmytnhome.org

All information as of June 30, 2016