HARDEST HIT FUND

First Quarter 2015 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

Assistance Provided: Amount of financial assistance provided to homeowners under HHF programs

(equal to funds disbursed)

HARDEST HIT FUND QUARTERLY PERFORMANCE SUMMARY

Background and Glossary of Terms

• The Hardest Hit Fund (HHF) provides $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.

• 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: $7.6 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, and blight elimination programs.

• As of March 31, 2015, there were 73 active programs across the 

19 HFAs. Approximately 65 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 reported committing $5.0 billion of 

their program funds (74% of program cap).

3

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

March 2014

Cumulative 

Program Funds 

Disbursed

March 2015

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$2.7 billion

(40.5% of

program cap)

$4.0 billion

(59.4% of

program cap)

47.3% 7.4%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

March 2014

Cumulative 

Homeowners 

Assisted 

March 2015

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

178,797 226,511 26.7% 3.7%

National Economic and Loan Performance Indicators

Unemployment 

Rate 

March 2014

Unemployment 

Rate 

March 2015

90+ Delinquency 

March 2014

90+ Delinquency 

March 2015

6.6% 5.5% 5.0% 4.2%

www.treasury.gov/HHF

All information as of March 31, 2015
ALABAMA

Alabama Hardest Hit Fund

Total Allocation = $162.5 million

PROGRAMS:

• Unemployment Assistance Program – Provides 

monthly mortgage payments and reinstatement assistance 

paid to the servicer on behalf of unemployed or 

underemployed homeowners.

• 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 a 

one-time payment to facilitate a loan recast or 

modification by reducing the outstanding principal 

balance, reinstating a delinquent loan, and/or paying off 

escrow shortage fees or arrearages. The modification 

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 January, Alabama expanded its Loan Modification 

Assistance Program to include recast to lower a 

homeowner’s monthly mortgage payment.

• Alabama reported it had committed approximately 

$35.9 million on behalf of program participants as of 

March 31, 2015.

4

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

March 2014

Cumulative 

Program Funds 

Disbursed

March 2015

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$26.4 million

(19.5% of

program cap)

$31.6 million

(23.4% of

program cap)

20.0% 4.9%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

March 2014

Cumulative 

Homeowners 

Assisted 

March 2015

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

3,297 3,947 19.7% 4.2%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

March 2014

Unemployment 

Rate 

March 2015

90+ Delinquency 

March 2014

90+ Delinquency 

March 2015

7.2% 5.7% 4.7% 4.3%

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

All information as of March 31, 2015
ARIZONA

Save Our Home Arizona

Total Allocation = $267.8 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 non-delinquent, 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.

RECENT ACTIVITY:

• Arizona continued to market its programs and offer 

expanded principal reduction assistance to underwater 

homeowners in the first quarter. 

• Arizona reported it had committed approximately 

$120.2 million on behalf of program participants as of 

March 31, 2015.

5

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

March 2014

Cumulative 

Program Funds 

Disbursed

March 2015

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$62.2 million

(26.7% of

program cap)

$93.5 million

(40.1% of

program cap)

50.4% 7.5%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

March 2014

Cumulative 

Homeowners 

Assisted 

March 2015

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

2,860 3,728 30.3% 5.5%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

March 2014

Unemployment 

Rate 

March 2015

90+ Delinquency 

March 2014

90+ Delinquency 

March 2015

7.0% 6.2% 2.4% 2.1%

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

All information as of March 31, 2015
CALIFORNIA

Keep Your Home California

Total Allocation = $1.975 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 March, California closed its Community 2nd Mortgage 

Principal Reduction Program due to inactivity and 

streamlined its reinstatement and principal reduction 

assistance options for homeowners.

• California reported it had committed approximately 

$1.042 billion on behalf of program participants as of 

March 31, 2015.

6

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

March 2014

Cumulative 

Program Funds 

Disbursed

March 2015

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$633.3 million

(34.7% of

program cap)

$962.2 million

(52.7% of

program cap)

51.9% 8.8%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

March 2014

Cumulative 

Homeowners 

Assisted 

March 2015

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

37,275 48,864 31.1% 6.2%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

March 2014

Unemployment 

Rate 

March 2015

90+ Delinquency 

March 2014

90+ Delinquency 

March 2015

7.9% 6.5% 2.9% 2.3%

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

All information as of March 31, 2015
DISTRICT OF COLUMBIA

HomeSaver Program – Closed to New Applicants

Total Allocation = $20.7 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:

• The District of Columbia continues to provide tax lien 

extinguishment assistance. DC closed its other HomeSaver

program components to new applicants in November 2013.

• The District of Columbia reported it had committed 

approximately $15.3 million on behalf of program 

participants as of March 31, 2015.

7

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

March 2014

Cumulative 

Program Funds 

Disbursed

March 2015

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$12.0 million

(72.1% of

program cap)

$13.6 million

(82.1% of

program cap)

13.4% 1.1%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

March 2014

Cumulative 

Homeowners 

Assisted 

March 2015

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

669 697 4.2% 0.3%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

March 2014

Unemployment 

Rate 

March 2015

90+ Delinquency 

March 2014

90+ Delinquency 

March 2015

7.8% 7.7% 5.5% 5.0%

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

All information as of March 31, 2015
FLORIDA

Florida Hardest-Hit Fund

Total Allocation = $1.057 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 mortgages 

purchased in a distressed asset sale. 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.

RECENT ACTIVITY:

• In January, Florida expanded the eligible financial 

hardships under its mortgage payment and reinstatement 

assistance programs.

• Florida reported it had committed approximately 

$579.4 million on behalf of program participants as of 

March 31, 2015.

8

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

March 2014

Cumulative 

Program Funds 

Disbursed

March 2015

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$292.3 million

(30.7% of

program cap)

$495.6 million

(52.0% of

program cap)

69.5% 7.1%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

March 2014

Cumulative 

Homeowners 

Assisted 

March 2015

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

16,025 22,400 39.8% 5.2%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

March 2014

Unemployment 

Rate 

March 2015

90+ Delinquency 

March 2014

90+ Delinquency 

March 2015

6.5% 5.7% 10.6% 7.5%

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

All information as of March 31, 2015
GEORGIA

HomeSafe Georgia

Total Allocation = $339.3 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. Onetime 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:

• Georgia expanded its digital and radio-based marketing 

efforts to promote its programs throughout the state 

during the first quarter.

• Georgia reported it had committed approximately 

$141.3 million on behalf of program participants as of 

March 31, 2015.

9

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

March 2014

Cumulative 

Program Funds 

Disbursed

March 2015

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$71.0 million

(24.3% of

program cap)

$110.9 million

(38.0% of

program cap)

56.0% 8.4%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

March 2014

Cumulative 

Homeowners 

Assisted 

March 2015

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

4,770 6,245 30.9% 5.7%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

March 2014

Unemployment 

Rate 

March 2015

90+ Delinquency 

March 2014

90+ Delinquency 

March 2015

7.3% 6.3% 4.6% 4.0%

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

All information as of March 31, 2015
ILLINOIS

Illinois Hardest Hit Program – HELP Program Closed to New Applicants

Total Allocation = $445.6 million

PROGRAMS:

• Homeowner Emergency Loan Program – Provides

monthly mortgage payment and reinstatement 

assistance on behalf of unemployed and underemployed 

homeowners. Homeowners must contribute a portion 

of their monthly income.

• Mortgage Resolution Fund Program – 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 or reinstatement assistance 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.

RECENT ACTIVITY:

• In March, Illinois announced funding awards for 15 

applicants under its Blight Reduction Program. Partner 

agreements will be finalized during the second quarter.

• Illinois reported it had committed approximately 

$343.3 million on behalf of program participants as 

of March 31, 2015.

10

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

March 2014

Cumulative 

Program Funds 

Disbursed

March 2015

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$237.3 million

(62.2% of

program cap)

$318.4 million

(83.5% of

program cap)

34.2% 9.0%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

March 2014

Cumulative 

Homeowners 

Assisted 

March 2015

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

12,762 13,798 8.1% 0.6%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

March 2014

Unemployment 

Rate 

March 2015

90+ Delinquency 

March 2014

90+ Delinquency 

March 2015

7.7% 6.0% 6.7% 5.4%

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

All information as of March 31, 2015
INDIANA

Indiana Hardest Hit Fund

Total Allocation = $221.7 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:

• Indiana expanded its public outreach efforts for its Blight 

Elimination Program during the first quarter, including 

hosting a media event in Fort Wayne on March 13. 

• As of March 31, 2015, Indiana reported it had 

committed approximately $139.6 million on behalf of 

program participants and an additional $64.4 million 

under the Blight Elimination Program.

11

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

March 2014

Cumulative 

Program Funds 

Disbursed

March 2015

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$35.3 million

(18.4% of

program cap)

$65.5 million

(34.2% of

program cap)

85.4% 14.5%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

March 2014

Cumulative 

Homeowners 

Assisted 

March 2015

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

3,116 5,198 66.8% 11.0%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

March 2014

Unemployment 

Rate 

March 2015

90+ Delinquency 

March 2014

90+ Delinquency 

March 2015

6.0% 5.8% 5.4% 4.7%

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

All information as of March 31, 2015
KENTUCKY

Protect My Kentucky Home

Total Allocation = $148.9 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 reemployment or substantially increased employment. 

RECENT ACTIVITY:

• Kentucky collaborated with states and servicers to 

develop operational resources for Hardest Hit Fund 

program partners throughout the first quarter.

• Kentucky reported it had committed approximately 

$160.7 million on behalf of program participants as 

of March 31, 2015.

12

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

March 2014

Cumulative 

Program Funds 

Disbursed

March 2015

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$59.1 million

(44.2% of

program cap)

$83.4 million

(63.7% of

program cap)

41.2% 7.3%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

March 2014

Cumulative 

Homeowners 

Assisted 

March 2015

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

5,368 6,668 24.2% 4.7%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

March 2014

Unemployment 

Rate 

March 2015

90+ Delinquency 

March 2014

90+ Delinquency 

March 2015

7.2% 5.1% 4.8% 4.3%

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

All information as of March 31, 2015
MICHIGAN

Step Forward Michigan

Total Allocation = $498.6 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 16 cities throughout the state.

RECENT ACTIVITY:

• In March, Michigan adjusted its program allocations to 

supplement Loan Rescue Program funds.

• As of March 31, 2015, Michigan reported it had 

committed approximately $210.1 million on behalf of 

program participants and an additional $175 million 

under the Blight Elimination Program.

13

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

March 2014

Cumulative 

Program Funds 

Disbursed

March 2015

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$146.3 million

(33.4% of

program cap)

$240.8 million

(53.3% of

program cap)

64.6% 13.7%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

March 2014

Cumulative 

Homeowners 

Assisted 

March 2015

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

19,318 25,573 32.4% 4.1%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

March 2014

Unemployment 

Rate 

March 2015

90+ Delinquency 

March 2014

90+ Delinquency 

March 2015

7.6% 5.6% 3.7% 2.9%

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

All information as of March 31, 2015
MISSISSIPPI

Mississippi Home Saver Program

Total Allocation = $101.9 million

PROGRAMS: 

Mississippi Home Saver includes the following:

• Mortgage Payment Assistance – Provides reinstatement 

and monthly mortgage payment assistance on behalf of 

unemployed or substantially underemployed homeowners 

who are at risk of default or losing their home.

• Mortgage Payment Assistance with Education –

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 first quarter, Mississippi implemented operational 

improvements to its underwriting processes to better assist 

homeowners applying for the Home Saver Program.

• Mississippi reported it had committed approximately 

$74.5 million on behalf of program participants as of 

March 31, 2015.

14

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

March 2014

Cumulative 

Program Funds 

Disbursed

March 2015

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$28.7 million

(33.1% of

program cap)

$48.9 million

(56.4% of

program cap)

70.4% 11.8%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

March 2014

Cumulative 

Homeowners 

Assisted 

March 2015

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

2,221 3,187 43.5% 6.8%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

March 2014

Unemployment 

Rate 

March 2015

90+ Delinquency 

March 2014

90+ Delinquency 

March 2015

7.8% 6.8% 6.2% 5.3%

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

All information as of March 31, 2015
NEVADA

Nevada Hardest Hit Fund

Total Allocation = $194.0 million

PROGRAMS:

• Principal Reduction Program – Provides principal reduction to 

facilitate a HARP refinance or a mortgage modification with a 

1:1 match by a servicer or lender.

• 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 – Provides transition 

assistance for a homeowner who has been lender-approved for a 

short sale or deed-in-lieu.

• Mortgage Assistance Program – Provides monthly mortgage 

payment and reinstatement assistance on behalf of unemployed 

and underemployed homeowners. Homeowners must contribute 

a minimum partial payment.

• Mortgage Assistance Program Alternative – 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.

• Home Retention Program – In partnership with Home Means 

Nevada, Inc., this note purchase program provides principal 

reduction to facilitate permanent modifications for eligible loans.

• Nevada Recast Refinance and Modification Program –

Provides principal reduction to facilitate a loan recast, refinance, 

or a permanent modification for eligible loans.

RECENT ACTIVITY:

• Nevada re-opened its Mortgage Assistance Program in 2013, and 

anticipates making additional changes to its programs in 2015.

• Nevada reported it had committed approximately $87.6 

million on behalf of participants as of March 31, 2015.

15

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

March 2014

Cumulative 

Program Funds 

Disbursed

March 2015

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$82.0 million

(48.5% of

program cap)

$86.5 million

(51.1% of

program cap)

5.4% 0.8%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

March 2014

Cumulative 

Homeowners 

Assisted 

March 2015

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

4,904

(revised estimate) 5,282 7.7% 1.1%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

March 2014

Unemployment 

Rate 

March 2015

90+ Delinquency 

March 2014

90+ Delinquency 

March 2015

8.2% 7.1% 7.3% 5.6%

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

All information as of March 31, 2015
NEW JERSEY

New Jersey HomeKeeper Program – Closed to New Applicants

Total Allocation = $300.5 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.

RECENT ACTIVITY:

• Although New Jersey closed the HomeKeeper Program to 

new applicants in November 2013, it continued to process 

applications under review and remit monthly payments on 

behalf of participants through the first quarter.

• New Jersey reported it had committed approximately 

$245 million on behalf of program participants as of 

March 31, 2015.

16

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

March 2014

Cumulative 

Program Funds 

Disbursed

March 2015

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$151.5 million

(57.8% of

program cap)

$215.5 million

(82.3% of

program cap)

42.2% 4.7%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

March 2014

Cumulative 

Homeowners 

Assisted 

March 2015

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

5,473 6,000 9.6% 0.1%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

March 2014

Unemployment 

Rate 

March 2015

90+ Delinquency 

March 2014

90+ Delinquency 

March 2015

6.8% 6.5% 11.7% 10.7%

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

All information as of March 31, 2015
NORTH CAROLINA

NC Foreclosure Prevention Fund

Total Allocation = $482.8 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.

RECENT ACTIVITY:

• In February, North Carolina launched a new foreclosure 

prevention ad campaign using radio and digital advertising 

to increase borrower outreach. 

• North Carolina reported it had committed 

approximately $334.1 million on behalf of program 

participants as of March 31, 2015.

17

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

March 2014

Cumulative 

Program Funds 

Disbursed

March 2015

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$238.2 million

(56.6% of

program cap)

$305.9 million

(72.7% of

program cap)

28.4% 5.2%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

March 2014

Cumulative 

Homeowners 

Assisted 

March 2015

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

15,973 19,060 19.3% 4.3%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

March 2014

Unemployment 

Rate 

March 2015

90+ Delinquency 

March 2014

90+ Delinquency 

March 2015

6.4% 5.4% 3.9% 3.5%

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

All information as of March 31, 2015
OHIO

Save the Dream Ohio – Closed to New Applicants

Total Allocation = $570.4 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:

• Ohio closed its portal to new applicants in April 2014, but 

continues to disburse assistance on behalf of participants.

• As of March 31, 2015, Ohio reported it had committed 

approximately $442.5 million on behalf of program 

participants and an additional $60 million under the 

Neighborhood Initiative Program.

18

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

March 2014

Cumulative 

Program Funds 

Disbursed

March 2015

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$256.3 million

(49.9% of

program cap)

$405.7 million

(79.0% of

program cap)

58.3% 5.5%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

March 2014

Cumulative 

Homeowners 

Assisted 

March 2015

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

18,094 24,485 35.3% 1.1%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

March 2014

Unemployment 

Rate 

March 2015

90+ Delinquency 

March 2014

90+ Delinquency 

March 2015

6.0% 5.1% 5.7% 4.9%

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

All information as of March 31, 2015
OREGON

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

Total Allocation = $220.0 million

PROGRAMS: 

• Mortgage Payment Assistance Program – Provides 

monthly mortgage payment assistance on behalf of 

unemployed and underemployed homeowners.

• Loan Preservation Assistance Program – Provides 

reinstatement assistance that may be combined with 

Mortgage Payment Assistance. Additional funds may be 

available for those receiving stand-alone reinstatement.

• 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. 

LRAPP is available in Crook, Deschutes, Jackson, 

Jefferson, and Josephine Counties. 

• Rebuilding American Homeownership Assistance Pilot 

Project – Provides assistance to underwater homeowners 

statewide to facilitate a refinance with lower monthly 

mortgage payments.

RECENT ACTIVITY: 

• Although Oregon closed its Mortgage Payment and Loan 

Preservation Assistance Programs to new applicants in June 

2014, it continued to process applications under review and 

remit monthly payments on behalf of participants. LRAPP 

and RAHAPP remain available to eligible homeowners.

• Oregon reported it had committed approximately 

$220.5 million on behalf of program participants as of 

March 31, 2015.

19

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

March 2014

Cumulative 

Program Funds 

Disbursed

March 2015

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$139.1 million

(76.9% of

program cap)

$184.1 million

(101.8% of

program cap)

32.4% 5.0%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

March 2014

Cumulative 

Homeowners 

Assisted 

March 2015

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

9,856 11,740 19.1% 1.0%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

March 2014

Unemployment 

Rate 

March 2015

90+ Delinquency 

March 2014

90+ Delinquency 

March 2015

7.1% 5.4% 4.6% 3.8%

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

All information as of March 31, 2015
RHODE ISLAND

Hardest Hit Fund Rhode Island – Closed to New Applicants

Total Allocation = $79.3 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-in-lieu. 

• 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.

RECENT ACTIVITY:

• Hardest Hit Fund Rhode Island is closed to new applicants. 

Rhode Island continues to disburse assistance on behalf of 

participating homeowners.

• Rhode Island reported it had committed approximately 

$67.3 million on behalf of program participants as of 

March 31, 2015. 20

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

March 2014

Cumulative 

Program Funds 

Disbursed

March 2015

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$56.7 million

(83.7% of

program cap)

$63.7 million

(93.9% of

program cap)

12.3% 1.6%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

March 2014

Cumulative 

Homeowners 

Assisted 

March 2015

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

3,070 3,075 0.2% 0.0%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

March 2014

Unemployment 

Rate 

March 2015

90+ Delinquency 

March 2014

90+ Delinquency 

March 2015

8.2% 6.3% 6.4% 5.7%

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

All information as of March 31, 2015
SOUTH CAROLINA

South Carolina Homeownership and Employment Lending Program (SC HELP)

Total Allocation = $295.4 million

PROGRAMS:

• Monthly Payment Assistance Program – Provides 

monthly mortgage payment assistance for unemployed 

and underemployed homeowners.

• 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 with a loan recast or modification to achieve 

long-term affordability.

• 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 February, South Carolina announced funding awards 

for 20 applicants under its Neighborhood Initiative 

Program. Partner agreements will be finalized during the 

second quarter.

• South Carolina reported it had committed 

approximately $162.9 million on behalf of program 

participants as of March 31, 2015.

21

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

March 2014

Cumulative 

Program Funds 

Disbursed

March 2015

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$101.7 million

(42.1% of

program cap)

$135.7 million

(56.2% of

program cap)

33.5% 6.3%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

March 2014

Cumulative 

Homeowners 

Assisted 

March 2015

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

7,425 9,209 24.0% 4.6%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

March 2014

Unemployment 

Rate 

March 2015

90+ Delinquency 

March 2014

90+ Delinquency 

March 2015

6.1% 6.7% 4.8% 4.2%

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

All information as of March 31, 2015
TENNESSEE

Keep My Tennessee Home – Closed to New Applicants

Total Allocation = $217.3 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 standalone reinstatement assistance. 

RECENT ACTIVITY:

• Although Tennessee closed its program to new 

applicants in July 2014, it continues to process 

applications under review and remit monthly 

payments on behalf of participants.

• Tennessee reported it had committed 

approximately $191.8 million on behalf of 

program participants as of March 31, 2015.

22

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

March 2014

Cumulative 

Program Funds 

Disbursed

March 2015

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$92.4 million

(50.0% of

program cap)

$148.5 million

(77.1% of

program cap)

60.7% 7.7%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

March 2014

Cumulative 

Homeowners 

Assisted 

March 2015

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

6,023 7,355 22.1% 0.0%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

March 2014

Unemployment 

Rate 

March 2015

90+ Delinquency 

March 2014

90+ Delinquency 

March 2015

6.4% 6.3% 4.3% 3.7%

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

All information as of March 31, 2015