HHF Ohio August 15, 2018

B-1-1

SERVICE SCHEDULE B-1

Ohio Housing Finance Agency (OHFA)

Rescue Payment Assistance Program

Summary Guidelines

1. Program Overview The Rescue Payment Assistance (RPA) program, part of Ohio’s Hardest Hit Fund (HHF), 

provides up to $25,000 to lenders/servicers or taxing authorities on behalf of eligible 

homeowners to bring current (i) delinquent mortgage payments, (ii) escrow shortages, (iii)

corporate advances to third parties, and (iv) delinquent property taxes.

Homeowners may receive assistance from one or more of Ohio’s HHF Programs, up to the 

total amount for which the homeowner qualifies.

2. Program Goals The goal of RPA is to prevent avoidable foreclosure and stabilize neighborhoods by helping 

delinquent homeowners who have experienced a qualifying hardship to achieve sustainable 

homeownership.

3. Target Population/ 

Areas 

The RPA program is available to Ohioans who have experienced a qualifying hardship.

4. Program Allocation 

(Excluding 

Administrative 

Expenses) 

$179,487,004.96

5. Borrower Eligibility 

Criteria 

The homeowner must meet the following criteria: 

• Current gross household income equal to or less than 125 percent of the area median 

income for a 5-person family from the county with the highest area median income in 

Ohio; 

• Hardship, as identified by a hardship affidavit, which occurred on or after January 1, 2014

due to (i) a job loss resulting in eligibility for unemployment benefits, or (ii) other

involuntary loss of income as set forth in Ohio’s HHF guidelines; and 

• Monthly mortgage payment (PITIA) must be 45 percent or less of gross monthly 

income—or, if also applying for assistance on a subordinate lien through the 

Homeownership Retention Assistance program (HRA), combined monthly mortgage 

payment must be 48 percent or less of gross monthly income—or homeowner must 

qualify to receive at least six months of assistance under the Mortgage Payment 

Assistance program (MPA).

• Assistance on non-escrowed property taxes may only be provided in conjunction with 

other assistance on the homeowner’s mortgage loan under Rescue Payment Assistance or 

Mortgage Payment Assistance.

6. Property/Loan 

Eligibility Criteria 

Properties must be one- to four-unit, owner-occupied primary residences located in Ohio, 

including condominium units. Manufactured homes are eligible only if titled as real estate. 

Land Contracts are not eligible. 

The first mortgage debt on the property must be less than the highest FHA maximum loan 

amount among all Ohio counties. 

7. Program Exclusions The following are excluded from participating in this amendment to the RPA program:

• Homeowners participating in a trial modification; 

• Homeowners in active bankruptcy; and

• Homeowners whose applications were submitted to OHFA’s underwriting team prior to 

August 1, 2014, except for those who were declined or who withdrew their application; 
B-1-2

these previously submitted homeowners may continue to receive assistance under 

Amendment Five to the HPA. 

8. Structure of 

Assistance 

Assistance will take the form of a non-recourse, non-amortizing, zero-percent interest, fiveyear loan secured by the property and repayable only from equity proceeds of a refinance or 

sale. The loan will be recorded as a subordinate lien. 

Twenty percent of the loan balance will be forgiven each year on the anniversary of the 

closing, and any remaining balance will be forgiven on December 31, 2021. The terms for 

forgiveness of loans funded in Rounds 1-4 will remain the same. 

9. Per Household 

Assistance 

Maximum program amount available per household: $25,000 

Estimated average assistance provided per household: $8,750

10. Duration of 

Assistance 

RPA is provided in a lump sum payment to the homeowner’s lender/servicer.

11. Estimated Number 

of Participating 

Households 

It is expected that the RPA program will assist 23,000 households. 

12. Program Inception/ 

Duration 

The RPA program began September 27, 2010. The program is expected to continue until 

December 31, 2020 or until funding is fully reserved, whichever comes first.

13. Program 

Interactions with 

Other Programs 

(e.g. other HFA 

programs) 

Homeowners who participate in two or more of Ohio’s HHF programs are subject to a 

maximum benefit amount of $35,000 per household; however, the maximum program amount 

a homeowner may receive under RPA shall not exceed $25,000. 

14. Program 

Interactions with 

HAMP 

Homeowners participating in a trial HAMP modification are not eligible.

15. Program Leverage 

with Other 

Financial Resources 

OHFA strongly encourages lenders/servicers to waive late fees or any other expenses that are 

not paid to a third party. 
B-2-1

SERVICE SCHEDULE B-2

Ohio Housing Finance Agency (OHFA)

Mortgage Payment Assistance Program

Summary Guidelines

1. Program Overview The Mortgage Payment Assistance (MPA) program provides up to $25,000 to 

lenders/servicers on behalf of eligible unemployed and underemployed homeowners to make 

full mortgage payments to the lender servicer for up to eighteen (18) months or as long as the 

homeowner remains eligible for assistance. Homeowners will resume their regular payments 

at the end of the term approved in their Action Plan or three (3) months after achieving an 

affordable payment, whichever occurs first. 

Up to $22,000 of MPA assistance will be available to eligible homeowners at the time of 

closing. Should the homeowner’s monthly mortgage payment increase after closing, the 

homeowner may access additional assistance up to the maximum program amount of $25,000.

Homeowners may receive assistance from one or more of Ohio’s HHF Programs, up to the 

total amount for which the homeowner qualifies.

2. Program Goals The goal of MPA is to prevent avoidable foreclosure and stabilize neighborhoods by helping 

unemployed and underemployed homeowners make on-time, monthly payments on their 

mortgages. 

3. Target Population/ 

Areas 

The MPA program is available to Ohioans who have experienced a qualifying hardship.

4. Program Allocation 

(Excluding 

Administrative 

Expenses) 

$187,244,052.17

5. Borrower Eligibility 

Criteria 

The homeowner must meet the following criteria: 

• Current gross household income equal to or less than 125 percent of the area median for a 

5-person family from the county with the highest area median in Ohio;

• Hardship, as identified by a hardship affidavit, which occurred on or after January 1, 

2014, due to (i) a job loss resulting in eligibility for unemployment benefits, or (ii) other 

involuntary loss of income as set forth in Ohio’s HHF guidelines; and

• Monthly mortgage payment must be 20 percent or more for homeowners who have 

received or exhausted unemployment benefits.

6. Property/Loan 

Eligibility Criteria 

Properties must be one- to four-unit, owner-occupied primary residences located in Ohio, 

including condominium units. Manufactured homes are eligible only if titled as real estate. 

Land Contracts are not eligible. 

The first mortgage debt on the property must be less than the highest FHA maximum loan 

amount among all Ohio counties. 

7. Program Exclusions The following are excluded from participating in this amendment to the MPA program:

• Homeowners participating in a trial modification; and

• Homeowners in active bankruptcy; and

• Homeowners whose applications were submitted to OHFA’s underwriting team prior to 

August 1, 2014, except for those who were declined or who withdrew their application; 

these previously submitted homeowners may continue to receive assistance under 

Amendment Five to the HPA.
B-2-2

8. Structure of 

Assistance 

Assistance will take the form of a non-recourse, non-amortizing, zero-percent interest, fiveyear loan secured by the property and repayable only from equity proceeds of a refinance or 

sale. The loan will be recorded as a subordinate lien. 

Twenty percent of the loan balance will be forgiven each year on the anniversary of the 

closing, and any remaining balance will be forgiven on December 31, 2021. 

9. Per Household 

Assistance 

Maximum program amount available per household: $22,000 at closing, $25,000 over term of 

assistance

Estimated average assistance provided per household: $12,000

10. Duration of 

Assistance 

The maximum duration of MPA is nine (9) months. 

Homeowners who become reemployed after receiving approval from Ohio’s HHF program 

underwriters, but before closing on their loan for assistance and whose mortgage payment is 

affordable as defined by Ohio’s HHF guidelines, may receive up to three months of MPA.

11. Estimated Number 

of Participating 

Households 

It is expected that the MPA program will assist 17,000 households.

12. Program Inception/ 

Duration 

The MPA program began January 1, 2012, and is expected to continue until December 31, 

2020 or until funding is fully reserved, whichever comes first.

13. Program 

Interactions with 

Other Programs 

(e.g. other HFA 

programs) 

Homeowners who participate in two or more of Ohio’s HHF programs are subject to a 

maximum benefit amount of $35,000 per household; however, the maximum program amount 

a homeowner may receive under MPA shall not exceed $25,000.

14. Program 

Interactions with 

HAMP 

Homeowners participating in a trial HAMP modification are not eligible.

MPA may come before or after the Home Affordable Unemployment Program (UP) 

forbearance. 

15. Program Leverage 

with Other 

Financial Resources 

OHFA strongly encourages the lenders/servicers to waive late fees or any other expenses that 

are not paid to a third party. 
B-3-1

SERVICE SCHEDULE B-3

Ohio Housing Finance Agency (OHFA)

Modification with Contribution Assistance Program

Summary Guidelines

1. Program Overview The Modification with Contribution Assistance (MCA) program provides up to $35,000 to 

lenders/servicers on behalf of homeowners to facilitate a permanent affordable loan 

modification. 

Allowable uses of the funds include:

• Delinquent mortgage payments; 

• Principal & interest;

• Other property related ancillary expenses (property taxes, homeowner’s insurance, and 

association dues);

• Late fees; 

• Inspection fees, attorney fees, and other third party fees; 

• Escrow shortages and advances; and

• Principal reduction.

The modification achieved with MCA must result in a more affordable monthly payment, but 

that payment may not be less than 20 percent of the household gross monthly income. If the 

household gross income is equal to or less than $20,000 per year, however, the modification 

achieved with MCA may result in a more affordable monthly payment that is less than 20 

percent of gross household income. 

Assistance is subject to OHFA’s approval of the homeowner’s Action Plan, which is 

developed by a housing counselor, except for HAMP-eligible modifications referred to OHFA 

by a participating lender/servicer. Homeowners may receive assistance from one or more of 

Ohio’s HHF Programs, up to the total amount for which the homeowner qualifies.

2. Program Goals The goal of MCA is to prevent avoidable foreclosure and stabilize neighborhoods by helping 

homeowners who have experienced a qualifying hardship to achieve more affordable 

mortgage payments long term.

3. Target Population/ 

Areas 

The MCA program is available to Ohioans who have experienced a qualifying hardship.

4. Program Allocation 

(Excluding 

Administrative 

Expenses) 

$43,025,529.70

5. Borrower Eligibility 

Criteria 

The homeowner must meet the following criteria: 

• Current gross household income equal to or less than 125 percent of the area median for a 

5-person family from the county with the highest area median in Ohio; and 

• Hardship, as identified by a hardship affidavit, which occurred on or after January 1, 

2007, due to involuntary loss or reduction in income or significant medical expenses; and

• Mortgage payment 20 percent or greater than household gross monthly income, unless the 

household gross income is equal to or less than $20,000 per year.

6. Property/Loan 

Eligibility Criteria 

Properties must be one- to four-unit owner-occupied primary residences located in Ohio, 

including condominium units. Manufactured homes are eligible only if titled as real estate. 

Land contracts are not eligible.

The first mortgage debt on the property must be less than the highest FHA maximum loan 

amount among all Ohio counties. 
B-3-2

7. Program 

Exclusions 

The following are excluded from participating in this amendment to the MCA program:

• Homeowners participating in a trial HAMP modification; and

• Homeowners in active bankruptcy; 

• Homeowners whose applications were submitted to OHFA’s underwriting team prior to 

February 1, 2013, except for those who were declined; these previously submitted 

homeowners may continue to receive assistance under Amendment Five to the HPA; and

• Homeowners whose monthly mortgage payment would be less than 20 percent of 

household gross income, except those homeowners whose household gross income is 

$20,000 or less per year.

8. Structure of 

Assistance 

Unless MCA assistance is matched by an equal contribution by the lender/servicer, assistance 

will take the form of a non-recourse, non-amortizing, zero-percent interest, five-year loan 

secured by the property and repayable only from equity proceeds of a refinance or sale. The 

loan will be recorded as a subordinate lien. 

Twenty percent of the loan balance will be forgiven each year on the anniversary of the 

closing, and any remaining balance will be forgiven on December 31, 2017. 

9. Per Household 

Assistance 

Maximum program amount available per household: $35,000.

Estimated average assistance provided per household: $26,500

10. Duration of 

Assistance 

MCA is provided in a lump sum payment to the homeowner’s lender/servicer.

11. Estimated Number 

of Participating 

Households 

It is expected that the MCA program will assist 1,300 households. 

12. Program Inception/ 

Duration 

The MCA program began January 1, 2012, and is expected to continue until December 31, 

2017 or until funding is fully reserved, whichever comes first.

13. Program 

Interactions with 

Other Programs 

(e.g. other HFA 

programs) 

Homeowners who participate in two or more of Ohio’s HHF programs are subject to a 

maximum benefit amount of $35,000 per household.

14. Program 

Interactions with 

HAMP 

Homeowners participating in a trial HAMP modification are not eligible.

This program may be used to help a homeowner obtain a Home Affordable Modification 

Program (HAMP) modification. 

15. Program Leverage 

with Other 

Financial Resources 

OHFA strongly encourages the lenders/servicers to waive late fees or any other expenses that 

are not paid to a third party. 
B-4-1

SERVICE SCHEDULE B-4

Ohio Housing Finance Agency (OHFA)

Lien Elimination Assistance

Summary Guidelines

1. Program Overview The Lien Elimination Assistance (LEA) program provides up to $25,000 to one or more 

lenders/servicers on behalf of eligible homeowners to extinguish a homeowner’s mortgage 

lien(s).

Assistance is subject to OHFA’s approval of the homeowner’s Action Plan, which is 

developed by a housing counselor. Homeowners may receive assistance from one or more of 

Ohio’s HHF Programs, up to the total amount for which the homeowner qualifies.

2. Program Goals The goal of LEA is to prevent avoidable foreclosure and stabilize neighborhoods by helping 

homeowners who have experienced a qualifying hardship to achieve a long-term, permanent, 

and affordable housing solution.

3. Target Population/ 

Areas The LEA program is available to Ohioans who have experienced a qualifying hardship.

4. Program Allocation 

(Excluding 

Administrative 

Expenses)

$23,526,180.04

5. Borrower Eligibility 

Criteria The homeowner must meet the following criteria: 

• Current gross household income equal to or less than 125 percent of the area median for a 

5-person family from the county with the highest area median in Ohio; and

• Hardship, as identified by a hardship affidavit, which occurred on or after January 1, 

2007, due to involuntary loss or reduction in income or significant medical expenses.

6. Property/Loan 

Eligibility Criteria Properties must be one- to four-unit, owner-occupied primary residences located in Ohio, 

including condominium units. Manufactured homes are eligible only if titled as real estate. 

Land contracts are not eligible.

The first mortgage debt on the property must be less than the highest FHA maximum loan 

amount among all Ohio counties. 

7. Program Exclusions The following are excluded from participating in this amendment to the LEA program:

• Homeowners in active bankruptcy; and

• Homeowners whose applications were submitted to OHFA’s underwriting team prior to 

February 1, 2013, except for those who were declined; these previously submitted 

homeowners may continue to receive assistance under Amendment Five to the HPA.
B-4-2

8. Structure of 

Assistance Assistance will take the form of a non-recourse, non-amortizing, zero-percent interest, fiveyear loan secured by the property and repayable only from equity proceeds of a refinance or 

sale. The loan will be recorded as a subordinate lien. 

Twenty percent of the loan balance will be forgiven each year on the anniversary of the 

closing, and any remaining balance will be forgiven on December 31, 2017. 

9. Per Household 

Assistance Maximum program amount available per household: $25,000

Estimated average assistance provided per household: $20,000

10. Duration of 

Assistance LEA is provided in a lump sum payment to the homeowner’s lender/servicer.

11. Estimated Number 

of Participating 

Households

It is expected that the LEA program will assist 1,150 households.

12. Program Inception/ 

Duration The program began January 1, 2012, and is expected to continue until December 31, 2017 or 

until funding is fully reserved, whichever comes first.

13. Program 

Interactions with 

Other Programs 

(e.g. other HFA 

programs) 

Homeowners who participate in two or more of Ohio’s HHF programs are subject to a 

maximum benefit amount of $35,000 per household; however, the maximum program amount 

a homeowner may receive under LEA shall not exceed $25,000.

14. Program 

Interactions with 

HAMP 

Homeowners participating in a trial HAMP modification are not eligible.

15. Program Leverage 

with Other 

Financial Resources 

Lenders/servicers must agree to fully extinguish the lien(s) and release homeowners from 

future obligations or judgments as part of the process of approving a homeowner for the LEA 

program.
B-5-1

SERVICE SCHEDULE B-5

Ohio Housing Finance Agency (OHFA)

Transition Assistance Program

Summary Guidelines

1. Program Overview The Transition Assistance (TA) program provides up to:

• $5,000 to eligible homeowners with unaffordable mortgage payments who obtain a short 

sale or deed-in-lieu of foreclosure from their lender/servicer and leave their home in 

saleable condition; and 

• $2,500 to lenders/servicers to extinguish and release subordinate liens as part of a short 

sale or deed-in-lieu of foreclosure agreement. 

Assistance is subject to OHFA’s approval of the homeowner’s Action Plan, which is 

developed by a housing counselor. Homeowners may receive assistance from one or more of 

Ohio’s HHF Programs, up to the total amount for which the homeowner qualifies.

2. Program Goals The goal of TA is to prevent avoidable foreclosure and help stabilize neighborhoods by 

helping homeowners to achieve an orderly exit from their home.

3. Target Population/ 

Areas 

The TA program is available to Ohioans who have experienced a qualifying hardship.

4. Program Allocation 

(Excluding 

Administrative 

Expenses) 

$360,965.96

5. Borrower Eligibility 

Criteria 

The homeowner must meet the following criteria:

• Current gross household income equal to or less than 125 percent of the area median for a 

5-person family from the county with the highest area median in Ohio; and 

• Hardship, as identified by a hardship affidavit, which occurred on or after January 1, 

2007, due to involuntary loss or reduction in income, significant medical expenses; or 

homeowners who must relocate for employment and meets the requirements of IRS 

Publication 521 which states “the new main job is at least 50 miles farther from former 

residence than old main job.” The new residence must be located in the United States of 

America, except for active duty military personnel.

6. Property/Loan 

Eligibility Criteria 

Properties must be one- to-four unit, primary residences, as defined in Ohio’s HHF 

guidelines, located in Ohio, including condominium units. Manufactured homes are eligible 

only if titled as real estate. Land contracts are not eligible.

7. Program Exclusions The following are excluded from participating in TA:

• Homeowners whose net proceeds from the sale of the home are sufficient to pay off the 

mortgage balance; and

• Homeowners in active bankruptcy.

8. Structure of 

Assistance 

Assistance is provided in the form of a one-time payment to the borrower and incentives to 

the second lien holder(s) consisting of: 

• A $5,000 payment to the borrower by Ohio Homeowner Assistance LLC (OHA); and 

• A maximum of $2,500 to subordinate lienholder(s) who agree to extinguish fully any 

subordinate lien(s).

9. Per Household Maximum program amount available per household: $7,500 
B-5-2

Assistance Estimated average assistance provided per homeowner: $5,000

10. Duration of 

Assistance 

TA is provided in a lump sum payment to the homeowner, and, if applicable, the 

homeowner’s lender/servicer and any secondary lienholder(s). 

11. Estimated Number 

of Participating 

Households 

It is expected that the TA program will assist 63 households. 

12. Program Inception/ 

Duration 

The program began September 27, 2010, and is expected to continue until December 31, 2017 

or until funding is fully reserved, whichever comes first.

13. Program 

Interactions with 

Other Programs 

(e.g. other HFA 

programs) 

Homeowners who participate in two or more of Ohio’s HHF programs are subject to a 

maximum benefit amount of $35,000 per household; however, the maximum program amount 

a homeowner may receive for TA shall not exceed $7,500.

TA may not be combined with Homeowner Retention Assistance (HRA).

14. Program 

Interactions with 

HAMP 

HAFA may be combined with any element of the TA program. 

15. Program Leverage 

with Other 

Financial Resources 

Lenders/servicers must agree to release homeowners from future obligations or judgments as 

part of the process of approving a short sale, cash for keys, or deed-in-lieu agreement. First 

and second mortgage holders must accept less than full payoff.
B-6-1

SERVICE SCHEDULE B-6

Ohio Housing Finance Agency (OHFA)

Homeownership Retention Assistance

Summary Guidelines

1. Program Overview The Homeownership Retention Assistance (HRA) program provides up to $25,000 to 

lenders/servicers, taxing authorities, and associations, on behalf of eligible homeowners to 

extinguish or reinstate a homeowner’s subordinate mortgage lien(s) or cover ancillary 

property-related expenses as described below: 

Allowable uses of the funds include: 

• Property-related ancillary expenses (i.e., non-escrowed property taxes or homeowners or 

condominium association charges); and

• With respect to subordinate mortgage liens only:

• Delinquent mortgage payments;

• Principal & interest;

• Escrow shortages and advances;

• Late fees; 

• Inspection fees, attorney fees, and other third party fees; 

• Lien extinguishment; and

• Principal reduction.

Assistance is subject to OHFA’s approval of the homeowner’s Action Plan, which is 

developed by a housing counselor. Homeowners may receive assistance from one or more of 

Ohio’s HHF Programs, up to the total amount for which the homeowner qualifies.

2. Program Goals The goal of HRA is to prevent avoidable foreclosure and stabilize neighborhoods by helping 

homeowners who have experienced a qualifying hardship to achieve a long-term and 

affordable housing solution.

3. Target Population/ 

Areas The HRA program is available to Ohioans who have experienced a qualifying hardship.

4. Program Allocation 

(Excluding 

Administrative 

Expenses)

$13,339,164.22

5. Borrower Eligibility 

Criteria • The homeowner must meet the following criteria: 

• Current gross household income equal to or less than 125 percent of the area median 

for a 5-person family from the county with the highest area median in Ohio; and

• Hardship, as identified by a hardship affidavit, as identified by a hardship affidavit,

which occurred on or after January 1, 2007, due to involuntary loss or reduction in 

income or significant medical expenses.

When HRA is used to reinstate delinquent property taxes or homeowners or condominium 

association charges, the homeowner also must meet the following criterion: 

• Monthly mortgage payment (PITIA) must be 38 percent or less of gross monthly 

income or homeowner must qualify to receive at least six months of assistance under 

the Mortgage Payment Assistance program (MPA).

When HRA is used to eliminate or reinstate a subordinate lien, the homeowner must also meet 

the following criterion:

• Homeowner must be current or brought current with RPA on all liens with a higher 

position; and

• Combined monthly mortgage payment PITIA on first and any subordinate lien(s) for 
B-6-2

which the homeowner seeks assistance must be 48 percent or less of gross monthly 

income or homeowner must qualify to receive at least six months of assistance under 

the Mortgage Payment Assistance program (MPA).

6. Property/Loan 

Eligibility Criteria Properties must be one- to-four unit, owner-occupied primary residences located in Ohio, 

including condominium units. Manufactured homes are eligible only if titled as real estate. 

Land contracts are not eligible. 

The first mortgage debt on the property must be less than the highest FHA maximum loan 

amount among all Ohio counties. 

7. Program Exclusions The following are excluded from participating in HRA:

• Homeowners participating in a trial modification on their subordinate lien;

• Homeowners in active bankruptcy; and

• Homeowners whose applications were submitted to OHFA’s underwriting team prior to 

February 1, 2013, except for those who were declined; these previously submitted 

homeowners may continue to receive assistance under Amendment Five to the HPA.

8. Structure of 

Assistance Assistance will take the form of a non-recourse, non-amortizing, zero-percent interest, fiveyear loan secured by the property and repayable only from equity proceeds of a refinance or 

sale. The loan will be recorded as a subordinate lien. 

Twenty percent of the loan balance will be forgiven each year on the anniversary of the 

closing, and any remaining balance will be forgiven on December 31, 2017. 

9. Per Household 

Assistance Maximum amount available per homeowner: $25,000

Estimated average assistance provided per homeowner: $6,500

10. Duration of 

Assistance HRA is provided in a lump sum payment to the homeowner’s lender/servicer, taxing 

authority, and/or other entity. 

11. Estimated Number 

of Participating 

Households

It is expected that the HRA program will assist 1,738 households.

12. Program Inception/ 

Duration This program will become effective on February 1, 2013 and is expected to continue until 

December 31, 2017 or until funding is fully reserved, whichever comes first.

13. Program 

Interactions with 

Other Programs 

(e.g. other HFA 

programs) 

Homeowners who participate in two or more of Ohio’s HHF programs are subject to a 

maximum benefit amount of $35,000 per household; however, the maximum program amount 

a homeowner may receive under HRA shall not exceed $25,000. 

HRA may not be combined with TA.

14. Program 

Interactions with 

HAMP 

Homeowners participating in a trial HAMP modification on the subordinate lien are not 

eligible.

15. Program Leverage 

with Other 

Financial Resources 

OHFA strongly encourages lenders/servicers, taxing authorities, and other payees to waive 

late fees or any other expenses that are not paid to a third party. For subordinate lien 

extinguishments Lenders/servicers must agree to release homeowners from future obligations 

or judgments as part of the process and fully extinguish the lien(s). 
B-7-1

SERVICE SCHEDULE B-7

Ohio Housing Finance Agency (OHFA)

Homeowner Stabilization Assistance Program

Summary Guidelines

1. Program 

Overview 

Under the Homeowner Stabilization Assistance (HSA) program, HHF will be 

provided to eligible borrowers through qualified non-profit entities (“Investment 

Partners”) that leverage HHF with private capital to purchase delinquent mortgage 

loans at a discount through the U.S. Department of Housing and Urban 

Development (HUD) Federal Housing Agency (FHA) Distressed Asset 

Stabilization Program (DASP) Neighborhood Stabilization Outcome (NSO) subpool auction sales. Investment Partners must be eligible to participate as a 

qualified FHA DASP-NSO bidder in Ohio.

HHF will be used to leverage the purchase of loans within the FHA DASP-NSO 

offering, and will be applied to Program Eligible Outcomes. 

2. Program Goals The Homeowner Stabilization Assistance (HSA) program aims to keep families in 

their homes or provide families with support for an orderly property disposition and 

transition to new housing, which will help stabilize neighborhoods and housing 

markets.

3. Target Population/ 

Areas 

The target population is owner occupants of properties that are included in an 

NSO loan pool under HUD’s DASP.

4. Program Allocation 

(Excluding 

Administrative 

Expenses) 

$9,961,163.43

5. Borrower Eligibility 

Criteria 

The homeowner must meet the following criteria: 

• Current gross household income equal to or less than 125 percent of the 

area median for a 5-person family from the county with the highest area 

median in Ohio; 

• Hardship due to involuntary loss or reduction in income, significant 

medical expenses, or unpaid mortgage balance significantly in excess of 

market value.

6. Property/Loan 

Eligibility Criteria 

Properties must be single family detached one or two-unit owner-occupied 

residences located in Ohio.

Must be first mortgage debt on the property and such debt must be less than the 

highest FHA maximum loan amount among all Ohio counties.

7. Program Exclusions The following are excluded from participating in HSA:

• Homeowners who previously received assistance from Ohio’s HHF program, 

or

• Any properties purchased through the FHA DASP-NSO program that do not 

meet the criteria for homeowner eligibility or property eligibility as described 

in sections 5 and 6 herein, or

• Any properties purchased through the FHA DASP-NSO program that result in 

a foreclosure, except when a foreclosure follows a program eligible outcome 

by an eligible homeowner with an eligible property.
B-7-2

8. Structure of 

Assistance 

OHFA will execute an agreement with the Investment Partner to provide HSA 

funds up to a maximum of $35,000 per eligible loan, acquired from FHA DASPNSO at closing.

The Investment Partner will complete transfer of servicing and determine if the 

homeowner and property qualify for a Program Eligible Outcome within 180 days 

of (i) purchasing and servicing transfer of an eligible loan or (ii) investment with 

respect to a re-eligible loan. The Investment Partner will provide contact outreach 

with the homeowner for 12 months after commencement of a Program Eligible 

Outcome.

If, after acquiring the loans, Investment Partner determines a Program Exclusion 

applies, then the Investment Partner will deposit funds in an escrow account from 

which funds may be released only to purchase other loans (“Replacement Loans”) 

which satisfy a Program Eligible Outcome within 18 months, or to repay the HHF. 

If an eligible or re-eligible loan does not result in a Program Eligible Outcome 

within 18 months, the HHF funds shall be repaid to HHF, unless OHFA provides 

written approval to place the funds in escrow until another Replacement Loan is 

acquired.

When the Program Eligible Outcome is either a first Loan Modification or Lien 

Elimination, a portion of the assistance representing the difference between the 

current market value of the property and the permanently modified loan amount 

will take the form of a non-recourse, non-amortizing, zero-percent interest, five 

year loan secured by the property and repayable only from equity proceeds of a 

refinance or sale. The loan will be recorded as a first or subordinate lien. Twenty 

percent of the loan balance will be forgiven each year on the anniversary of the 

closing, and any remaining balance will be forgiven on December 31, 2017.

When the Program Eligible Outcome is a short sale or deed-in-lieu of foreclosure, 

the Investment Partner will repay HHF $1,000. If the amount of HHF funds used 

to purchase the note is greater than the total of the amount of principal forgiveness 

and transition assistance received by the homeowner plus the allowable cost of the 

transaction, the Investment Partner will deposit the difference in escrow. Funds 

may be released from escrow to purchase additional eligible loans or to repay 

HHF at the end of the program.

Program Eligible Outcomes Include:

• Modifications offered to and accepted by eligible homeowners with eligible 

properties; such modifications shall include principal reduction and 

forgiveness and result in a mortgage debt to income ratio of not greater than 

thirty-one percent of the gross household income, or

• Loan extinguishments without any deficiency judgment, or

• Short Sales to third party homeowner occupants offered to and accepted by 

eligible borrowers with eligible properties. Such Short Sales shall include 

extinguishment of the unpaid loan balance, waiver of deficiency judgment 

and borrower transition assistance, or

• Deeds in Lieu of Foreclosure offered to and accepted by eligible homeowners 

with eligible properties. Such Deeds in Lieu shall include extinguishment of 

the unpaid loan balance, waiver of deficiency judgment, and borrower 

transition assistance. 

9. Per Household 

Assistance 

The maximum program amount available per homeowner is $35,000.
B-7-3

10. Duration of Assistance HHF funds will be provided in a lump sum payment to the purchase of qualified loan 

within the FHA DASP-NSO offering, and will be applied to Program Eligible 

Outcomes for homeowners. 

11. Estimated Number of 

Participating Households 

It is expected that the HSA program will assist approximately 450 households. 

12. Program Inception/ 

Duration 

The HSA program will begin upon the earlier of April 1, 2013 and the Seventh 

Amendment Date. The program is expected to continue until December 31, 2015 or 

until funding is fully reserved, whichever comes first.

13. Program Interactions 

with Other Programs 

(e.g. other HFA 

programs) 

Homeowners who participate in HSA will not be eligible to participate in other HHF 

programs. 

14. Program Interactions 

with HAMP 

Homeowners who have previously participated in HAMP are eligible for HSA.

15. Program Leverage with 

Other Financial 

Resources 

Investment Partner shall utilize private capital on a pool basis, in addition to all HHF 

funds it is eligible to utilize on a per loan basis.
B-8-1

SERVICE SCHEDULE B-8

Ohio Housing Finance Agency (OHFA)

Neighborhood Initiative Program (NIP)

Summary Guidelines

1. Program Overview The Neighborhood Initiative Program (NIP) will fund strategically targeted 

residential demolition in designated areas within the state of Ohio by 

partnering with Land Banks or an entity that has signed a cooperative 

agreement with the Land Bank (together “Partners”).

2. Program Goals The goal of the Neighborhood Initiative Program (NIP) is to stabilize 

property values by removing and greening vacant and abandoned properties 

in targeted areas in an effort to prevent future foreclosures for existing 

homeowners.

3. Target Population/ 

Areas

NIP will be offered to counties that have a Land Bank established per Section 

1724 of the Ohio Revised Code. Demolition activity will be limited to 

targeted areas defined by the Partners and approved by OHFA that are part of 

a comprehensive local strategy to stabilize home values and prevent 

foreclosure in the county. OHFA guidelines will ensure that demolition and 

greening will have a positive effect on preserving existing neighborhoods.

4. Program Allocation 

(Excluding 

Administrative 

Expenses)

$239,288,743.49

5. Property/Loan 

Eligibility Criteria

Only vacant and abandoned residential properties (including single-family 

and multi-family), that qualify for lawful demolition under state or federal 

law and are approved under OHFA’s guidelines will qualify for this program. 

For any requests submitted on or after January 15, 2016, properties must

not be legally occupied at the time of any review or approval by the

HFA or eligible entity (as applicable) for blight elimination activity.

6. Ownership/Loan 

Eligibility Criteria

Properties must be owned by the Partner. Properties must have a loan that 

can be modified or extinguished.

7. Program 

Exclusions

• Commercial structures

• Properties listed on a state or national historic register.

8. Structure of 

Assistance

OHFA will issue a Request for Proposals from the Land Banks and will 

execute agreements with Partners selected to participate in the program. 

Each Partner will be responsible for property acquisition (if applicable), 

environmental assessment and remediation, demolition, greening and 

ongoing maintenance of properties. 

NIP will provide up to $75,000 of Hardest Hit Funds for each qualified 

property, to reimburse the Partner for eligible acquisition, demolition, 

remediation, greening, maintenance and administrative expenses with respect 

to that property. OHFA will approve payment to the Partner upon receipt 

and review of documentation of eligible expenses.
B-8-2

The Partner will execute legal documentation to evidence a non-recourse, 

non-amortizing, zero percent interest loan secured by the property for a term 

of three years after which it will be forgiven as long as covenants are met; 

outstanding balance of loan will be due on sale, transfer, or unauthorized use 

of the property. Mortgage will be in favor of Ohio Homeowner Assistance 

LLC (OHA) and recorded through public records. Ongoing monitoring, 

repayments, and discharges will be conducted by OHFA/OHA. Any 

repayment of program funds will be re-invested back into program allocation

in accordance with the Agreement. Special considerations may be made by 

OHFA/OHA to release lien prior to the three year term based on merit of 

request and to promote positive economic impact to community as set forth 

in program guidelines. 

9. Per Property 

Assistance

The maximum amount of assistance will be $75,000 per property which 

includes acquisition (if applicable), payoff of existing loan, approved 

demolition, remediation and greening of the site, maintenance and 

administration for up to three years.

Properties that are 1-4 units in size are eligible for a maximum 

reimbursement amount of $25,000 per property.

Properties that have 5 or more units are eligible for a maximum 

reimbursement amount of $75,000 per property.

10. Duration of 

Assistance

All assistance will be provided in one payment per property.

11. Estimated Number 

of Properties 

Demolished

Although the maximum amount of assistance is $75,000 per property, the 

estimated average amount of assistance is $13,500. Therefore the estimated 

total number of units demolished is 17,520.

12. Program Inception/ 

Duration

Contracts with Partners will be effective on or after January 1, 2014 and will 

expire no later than December 31, 2021.

13. Program 

Interactions with 

Other Programs 

(e.g. other HFA 

programs) 

Properties previously assisted under the Hardest Hit Fund program will not 

be eligible. 

14. Program 

Interactions with 

HAMP 

None.

15. Program Leverage 

with Other 

Financial 

Resources 

No match will be required of Partners, so there is no direct leveraging, but it 

is expected that other public and private investment will be made in the target 

areas.

As of October 2016, land banks may apply for a line of credit through 

OHFA.
C-1

SCHEDULE C

PERMITTED EXPENSES 

Ohio

One-time / Start-Up Expenses:

Initial Personnel $4,928.20

Building, Equipment, Technology $559,005.61

Professional Services $29,504.75

Supplies / Miscellaneous $24.47

Marketing /Communications $24,943.07

Travel $3,819.96

Website development /Translation $0.00

Contingency $5,873.56

Subtotal $628,099.62

Operating / Administrative 

Expenses:

Salaries $16,281,319.74 

Professional Services (Legal, 

Compliance, Audit, Monitoring)

$5,623,762.03

Travel $134,757.00

Buildings, Leases & Equipment $3,006,191.19 

Information Technology & 

Communications

$4,109,844.72

Office Supplies/Postage and 

Delivery/Subscriptions

$197,189.31

Risk Management/ Insurance $1,566.64 

Training $128,923.16 

Marketing/PR $2,015,851.35 

Miscellaneous $2,222.84 

Subtotal $31,501,627.98 

Transaction Related Expenses:

Recording Fees $3,042,136.92 

Wire Transfer Fees $403,323.47 

Counseling Expenses

File Intake $0.00

Decision Costs $0.00

Successful File $26,626,689.60

Key Business Partners On-Going $4,356,858.44

Subtotal $34,429,008.43 

Grand Total $66,558,736.03

% of Total Award 8.73%

Award Amount $762,791,540.00
C-2