SIXTH AMENDMENT TO 

COMMITMENT TO PURCHASE FINANCIAL INSTRUMENT 

and 

HFA PARTICIPATION AGREEMENT 

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

Agreement (the "Sixth Amendment") is entered into as of the date set forth on Schedule A 

attached hereto as the Sixth Amendment Date (the "Amendment Date"), by and among the 

United States Department of the Treasury ("Treasury"), the undersigned party designated as 

HFA whose description is set forth in Schedule A attached hereto (for convenience, a "state 

housing finance agency" or "HFA") and the undersigned institution designated by HFA to 

participate in the program described below ("Eligible Entity"). 

Recitals 

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

Purchase Financial Instrument and HFA Participation Agreement (the "Original HP A") dated as 

of the Closing Date, as previously amended by that certain First Amendment to Commitment to 

Purchase Financial Instrument and HFA Participation Agreement (the "First Amendment"), as 

further amended by that certain Second Amendment to Commitment to Purchase Financial 

Instrument and HFA Participation Agreement (the "Second Amendment"), as further amended 

by that certain Third Amendment to Commitment to Purchase Financial Instrument and HFA 

Participation Agreement (the "Third Amendment"), as further amended by that certain Fourth 

Amendment to Commitment to Purchase Financial Instrument and HFA Participation Agreement 

(the "Fourth Amendment"), and as further amended by that certain Fifth Amendment to 

Commitment to Purchase Financial Instrument and HFA Participation Agreement (the "Fifth 

Amendment"; and together with the Original HPA as amended thereby and by the First 

Amendment, Second Amendment, Third Amendment and Fourth Amendment, the "Current 

HPA"), dated as of their respective dates as set forth on Schedule A attached hereto, in 

connection with Treasury's federal housing program entitled the Housing Finance Agency 

Innovation Fund for the Hardest Hit Housing Markets (the "HHF Program"), which was 

established pursuant to the Emergency Economic Stabilization Act of 2008 (P.L. 110-343), as 

amended, as the same may be amended from time to time ("EESA"); 

WHEREAS, HFA and Eligible Entity submitted a request to Treasury to make certain revisions 

to their Service Schedules and Permitted Expenses, as applicable, and Treasury has agreed to the 

same; 

WHEREAS, HFA, Eligible Entity and Treasury wish to enter into this Sixth Amendment to 

document all approved modifications to the Service Schedules and Permitted Expenses, as 

applicable; 

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

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

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

Sixth Amendment to HPA — Ohio 

Doc#:USl:8281284v2 
Agreement 

Amendments 

A. Definitions. All references in the Current HPA to the "Agreement" shall mean the 

Current HPA, as further amended by this Sixth Amendment; and all references in the Current 

HPA to Schedules A, B or C shall mean the Schedules A, B or C attached to this Sixth 

Amendment. All references herein to the "HPA" shall mean the Current HPA, as further 

amended by this Sixth Amendment. 

B. Schedule A. Schedule A attached to the Current HPA is hereby deleted in its entirety 

and replaced with Schedule A attached to this Sixth Amendment. 

C. Schedule B. Schedule B attached to the Current HPA is hereby deleted in its entirety 

and replaced with Schedule B attached to this Sixth Amendment. 

D. Schedule C. Schedule C attached to the Current HPA is hereby deleted in its entirety 

and replaced with Schedule C attached to this Sixth Amendment. 

Representations, Warranties and Covenants 

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

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

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

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

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

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

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

Event of Default under the HPA. 

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

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

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

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

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

Entity is in breach of any such covenant. 

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

and deliver this Sixth Amendment and any other closing documentation delivered to 

Treasury in connection with this Sixth Amendment, and to perform its obligations 

hereunder and thereunder. 

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

Sixth Amendment and any other closing documentation delivered to Treasury in 

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

thereunder. 
Miscellaneous 

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

and are incorporated herein by this reference. 

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

them in the HPA. 

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

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

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

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

jurisdiction. 

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

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

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

copies of this Sixth Amendment shall be treated as originals for all purposes. 

[SIGNATURE PAGE FOLLOWS; REMAINDER OF PAGE 

INTENTIONALLY LEFT BLANK] 
In Witness Whereof, HFA, Eligible Entity and Treasury by their duly authorized officials 

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

Instrument and HFA Participation Agreement as of the Amendment Date. 

HFA: 

OHIO HOUSING FINANCE AGENCY 

TREASURY: 

UNITED STATES DEPARTMENT OF THE 

TREASURY 

By: I si Douglas A. Garver 

Name: Douglas A. Garver 

Title: Executive Director 

By: 

Name: Timothy G. Massad 

Title: Assistant Secretary for 

Financial Stability 

ELIGIBLE ENTITY: 

OHIO HOMEOWNER ASSISTANCE LLC 

By: Community Properties Impact 

Corporation, Its Sole Member 

By: /s/ Harold P. Keller 

Name: Harold D. Keller 

Title: Authorized Signatory 

[Signature Page to Sixth Amendment to HPA — Ohio] 
In Witness Whereof, HFA, Eligible Entity and Treasury by their duly authorized officials 

hereby execute and deliver this Sixth Amendment to Conanitment to Purchase Financia] 

Instrument and HFA Participation Agreement as of the Amendment Date. 

HFA: TREASURY: 

OHIO HOUSING FINANCE AGENCY UNITED STATES DEPARTMENT OF THE 

TREASURY 

By: By: 

Name: Name: Timothy G. Massad 

Title: Title: Assistant Secretary for 

Financial Stability 

ELIGIBLE ENTITY: 

OHIO HOMEOWNER ASSISTANCE LLC 

By: Community Properties Impact 

Corporation, Its Sole Member 

By: 

Name: 

Title: 

[Signature Page to Sixth Amendment to HPA — Ohio] 
EXHIBITS AND SCHEDULES 

Schedule A Basic Information 

Schedule B Service Schedules 

Schedule C Permitted Expenses 
SCHEDULE A 

BASIC INFORMATION 

Eligible Entity Information: 

Name of the Eligible Entity: 

Corporate or other organizational form: 

Jurisdiction of organization: 

Notice Information: 

Ohio Homeowner Assistance LLC 

Ohio limited liability company 

Ohio 

HFA Information: 

Name of HFA: 

Organizational form: 

Date of Application: 

Date of Action Plan: 

Notice Information: 

Ohio Housing Finance Agency 

An agency under the laws of the State of 

Ohio 

June 1,2010 

September 1,2010 

Program Participation Cap: 

Portion of Program Participation Cap 

Representing Original HHF Funds: 

$570,395,099.00 

$172,000,000.00 

Portion of Program Participation Cap 

Representing Unemployment HHF Funds: 

Permitted Expenses: 

Closing Date: 

$148,728,864.00 

$70,415,099.00 

August 3, 2010 

A-l 
First Amendment Date: 

Second Amendment Date: 

Third Amendment Date: 

Fourth Amendment Date: 

Fifth Amendment Date: 

Sixth Amendment Date: 

Eligible Entity Depository Account Information: 

September 23, 2010 

September 29, 2010 

December 16, 2010 

March 31,2011 

December 8, 2011 

December 14, 2012 

See account information set forth in the 

Depository Account Control Agreement 

between Treasury and Eligible Entity 

regarding the HHF Program. 

A-2 
SCHEDULE B 

SERVICE SCHEDULES 

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

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

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

HPA. 

B-l 
SERVICE SCHEDULE B-l 

Ohio Housing Finance Agency (OHFA) 

Rescue Payment Assistance Program 

Summary Guidelines 

1. Program Overview 

2. Program Goals 

3. Target Population/ 

Areas 

4. Program Allocation 

(Excluding 

Administrative 

Expenses) 

5. Borrower 

Eligibility Criteria 

6. Property/Loan 

Eligibility Criteria 

7. Program Exclusions 

The Rescue Payment Assistance (RPA) program, part of Ohio's Hardest Hit Fund (HHF), 

provides up to $25,000 to lenders/servicers on behalf of eligible homeowners to bring current 

delinquent mortgage payments, escrow shortages and corporate advances to third parties. 

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. 

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. 

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

$159,414,000.00 

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, 

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

• Monthly mortgage payment (PITIA) must be 3 8 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). 

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. 

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 

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

B-2 
8. Structure of 

Assistance 

9. Per Household 

Assistance 

10. Duration of 

Assistance 

11. Estimated Number 

of Participating 

Households 

12. Program Inception/ 

Duration 

13. Program 

Interactions with 

Other Programs 

(e.g. other HFA 

programs) 

14. Program 

Interactions with 

HAMP 

15. Program Leverage 

with Other 

Financial Resources 

16. Qualify as an 

Unemployment 

Program 

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

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. 

Maximum program amount available per household: $25,000 

Estimated average assistance provided per household: $ 10,000 

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

It is expected that the RPA program will assist 18,022 households. 

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

December 31, 2017 or when available funds are exhausted. 

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. 

Homeowners participating in a trial HAMP modification are not eligible. 

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

not paid to a third party. 

• Yes 0 No 

B-3 
SERVICE SCHEDULE B-2 

Ohio Housing Finance Agency (OHFA) 

Mortgage Payment Assistance Program 

Summary Guidelines 

1. Program Overview 

2. Program Goals 

3. Target Population/ 

Areas 

4. Program Allocation 

(Excluding 

Administrative 

Expenses) 

5. Borrower Eligibility 

Criteria 

6. Property/Loan 

Eligibility Criteria 

7. Program Exclusions 

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. 

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. 

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. 

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

$158,000,000.00 

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, 

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

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

received or exhausted unemployment benefits and 31 percent or more for all other 

eligible homeowners. 

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. 

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 

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

B-4 
8. Structure of 

Assistance 

9. Per Household 

Assistance 

10. Duration of 

Assistance 

11. Estimated Number 

of Participating 

Households 

12. Program Inception/ 

Duration 

13. Program 

Interactions with 

Other Programs 

(e.g. other HFA 

programs) 

14. Program 

Interactions with 

HAMP 

15. Program Leverage 

with Other 

Financial Resources 

16. Qualify as an 

Unemployment 

Program 

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

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. 

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

assistance 

Estimated average assistance provided per household: $ 16,000 

The maximum duration of MPA is eighteen (18) 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. 

It is expected that the MPA program will assist 10,510 households. 

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

2017 or when available funds are exhausted. 

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. 

Homeowners participating in a trial HAMP modification are not eligible. 

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

forbearance. 

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

are not paid to a third party. 

0 Yes • No 

B-5 
SERVICE SCHEDULE B-3 

Ohio Housing Finance Agency (OHFA) 

Modification with Contribution Assistance Program 

Summary Guidelines 

1. Program Overview 

2. Program Goals 

3. Target Population/ 

Areas 

4. Program Allocation 

(Excluding 

Administrative 

Expenses) 

5. Borrower Eligibility 

Criteria 

6. Property/Loan 

Eligibility Criteria 

The Modification with Contribution Assistance (MCA) program provides up to $25,000 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. Homeowners may receive assistance from one or more of 

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

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. 

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

$111,950,000.00 

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. 

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 | 

B-6 
7. Program 

Exclusions 

8. Structure of 

Assistance 

9. Per Household 

Assistance 

10. Duration of 

Assistance 

11. Estimated Number 

of Participating 

Households 

12. Program Inception/ 

Duration 

13. Program 

Interactions with 

Other Programs 

(e.g. other HFA 

programs) 

14. Program 

Interactions with 

HAMP 

15. Program Leverage 

with Other 

Financial Resources 

16. Qualify as an 

Unemployment 

Program 

amount among all Ohio counties. 

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. 

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. 

Maximum program amount available per household: $25,000 

Estimated average assistance provided per household: $17,500 

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

It is expected that the MCA program will assist 6,400 households. 

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

2017 or when available funds are exhausted. 

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 MCA shall not exceed $25,000. 

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. 

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

are not paid to a third party. 

• Yes 0 No 

B-7 
SERVICE SCHEDULE B-4 

Ohio Housing Finance Agency (OHFA) 

Lien Elimination Assistance 

Summary Guidelines 

1. Program Overview 

2. Program Goals 

3. Target Population/ 

Areas 

4. Program Allocation 

(Excluding 

Administrative 

Expenses) 

5. Borrower Eligibility 

Criteria 

6. Property/Loan 

Eligibility Criteria 

7. Program Exclusions 

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. 

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. 

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

$19,000,000.00 

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. 

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. 

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-8 
8. Structure of 

Assistance 

9. Per Household 

Assistance 

10. Duration of 

Assistance 

11. Estimated Number 

of Participating 

Households 

12. Program Inception/ 

Duration 

13. Program 

Interactions with 

Other Programs 

(e.g. other HFA 

programs) 

14. Program 

Interactions with 

HAMP 

15. Program Leverage 

with Other 

Financial Resources 

16. Qualify as an 

Unemployment 

Program 

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. 

Maximum program amount available per household: $25,000 

Estimated average assistance provided per household: $20,000 

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

It is expected that the LEA program will assist 955 households. 

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

when available funds are exhausted. 

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

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

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

Homeowners participating in a trial HAMP modification are not eligible. 

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. 

• Yes 0 No 

B-9 
SERVICE SCHEDULE B-5 

Ohio Housing Finance Agency (OHFA) 

Transition Assistance Program 

Summary Guidelines 

1. Program Overview 

2. Program Goals 

3. Target Population/ 

Areas 

4. Program Allocation 

(Excluding 

Administrative 

Expenses) 

5. Borrower Eligibility 

Criteria 

6. Property/Loan 

Eligibility Criteria 

7. Program Exclusions 

8. Structure of 

Assistance 

9. Per Household 

Assistance 

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. 

The goal of TA is to prevent avoidable foreclosure and help stabilize neighborhoods by 

helping homeowners to achieve an orderly exit from their home. 

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

$616,000.00 

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. 

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. 

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. 

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). 

Maximum program amount available per household: $7,500 

Estimated average assistance provided per homeowner: $6,400 

B-10 
10. Duration of 

Assistance 

11. Estimated Number 

of Participating 

Households 

12. Program Inception/ 

Duration 

13. Program 

Interactions with 

Other Programs 

(e.g. other HFA 

programs) 

14. Program 

Interactions with 

HAMP 

15. Program Leverage 

with Other 

Financial Resources 

16. Qualify as an 

Unemployment 

Program 

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

homeowner's lender/servicer and any secondary lieiiholder(s). 

It is expected that the TA program will assist 100 households. 

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

or when available funds are exhausted. 

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). 

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

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. 

• Yes 0 No 

B-ll 
SERVICE SCHEDULE B-6 

Ohio Housing Finance Agency (OHFA) 

Homeownership Retention Assistance 

Summary Guidelines 

1. Program Overview 

2. Program Goals 

3. Target Population/ 

Areas 

4. Program Allocation 

(Excluding 

Administrative 

Expenses) 

5. Borrower Eligibility 

Criteria 

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, homeowners or 

condominium association charges, and homeowner's insurance); 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. 

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. 

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

$51,000,000.00 

• 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 

B-12 
6. Property/Loan 

Eligibility Criteria 

7. Program Exclusions 

8. Structure of 

Assistance 

9. Per Household 

Assistance 

10. Duration of 

Assistance 

11. Estimated Number 

of Participating 

Households 

12. Program Inception/ 

Duration 

13. Program 

Interactions with 

Other Programs 

(e.g. other HFA 

programs) 

14. Program 

Interactions with 

HAMP 

15. Program Leverage 

with Other 

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 

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). 

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. 

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. 

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. 

Maximum amount available per homeowner: $25,000 

Estimated average assistance provided per homeowner: $16,400 

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

authority, and/or other entity. 

It is expected that the HRA program will assist 3,100 households. 

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

December 31,2017 or when available funds are exhausted. 

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. 

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

eligible. 

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 

B-13 
Financial Resources extinguishments Lenders/servicers must agree to release homeowners from future obligations 

or judgments as part of the process and fully extinguish the lien(s). 

16. Qualify as an 

Unemployment 

Program 

• Yes 0 No 

B-14 
SCHEDULEC 

PERMITTED EXPENSES 

Ohio 

One-time / Start-Up Expenses: 

Initial Personnel 

Building, Equipment, Technology 

Professional Services 

Supplies / Miscellaneous 

Marketing /Communications 

Travel 

Website development /Translation 

Contingency 

Subtotal 

$56,873.00 

$413,500.00 

$55,000.00 

$0.00 

$206,400.00 

$3,000.00 

$0.00 

$215,000.00 

$949,773.00 

V J , , ' ! ' * ^ l

 T l

 I * ^', ' " « ' ^ 

Operating /Administrative 

Expenses: 

Salaries 

Professional Services (Legal, 

Compliance, Audit, Monitoring) 

Travel 

Buildings, Leases & Equipment 

Information Technology & 

Communications 

Office Supplies/Postage and 

Delivery/Subscriptions 

Risk Management/ Insurance 

Training 

Marketing/PR 

Miscellaneous 

Subtotal 

$21,047,738.41 

$5,789,515.66 

$152,000.00 

$587,025.38 

$2,718,155.61 

$78,500.00 

$20,000.00 

$100,000.00 

$4,659,136.94 

$0.00 

$35,152,072.00 

k l| 1 lit li.- l!* » • * , 4 > '» 1 

Transaction Related Expenses: 

Recording Fees 

Wire Transfer Fees 

Counseling Expenses 

File Intake 

Decision Costs 

Successful File 

Key Business Partners On-Going 

Subtotal 

$2,853,864.00 

$50,000.00 

$0.00 

$0 00 

$20,177,090.00 

$11,232,300.00 

$34,313,254.00 

"' , /•* r i Jft^f-'* i »Ll " ", l ' _, t (4 

Grand Total $70,415,099.00 

H

 ' "f V - *, '* ''i1' ''' 55'*^ /- ' ' 

% of Total Award 

Award Amount 

12.3% 

$570,395,099.00 

C-l