OMB Approved No.: 1505-0269 

Expiration Date: 10/31/2021 

New Mexico Homeowner Assistance Fund

TERM SHEETS
OMB Approved No.: 1505-0269 

Expiration Date: 10/31/2021 

Contents

Homeownership Loan reinstatement/loss mitigation Program............................................................................................................................................................................................................................................ 2

Homeownership Loan Payment Assistance........................................................................................................................................................................................................................................................................... 5

Property Charge Default Resolution (Insurance)................................................................................................................................................................................................................................................................... 8

New Mexico Homeowner Assistance Fund – Property Charge Default Resolution (Insurance)....................................................................................................................................................................................... 8

Property Charge Default Resolution (Taxes)........................................................................................................................................................................................................................................................................ 11

New Mexico Homeowner Assistance Fund – Property Charge Default Resolution (Taxes)............................................................................................................................................................................................ 11

Utility Payment Assistance................................................................................................................................................................................................................................................................................................... 14

New Mexico Homeowner Assistance Fund Pilot Program .................................................................................................................................................................................................................................................. 17
OMB Approved No.: 1505-0269 

Expiration Date: 10/31/2021 

Homeownership Loan Reinstatement/Loss Mitigation Program

New Mexico Homeowner Assistance Fund – Homeownership Loan Reinstatement/Loss Mitigation Program

Criteria Program Terms

Brief description The Homeownership Loan Reinstatement/ Loss Mitigation Program will provide up $20,000 per household to eliminate delinquencies, reinstate a homeownership loan, 

including the current month (delinquency plus one month) and/or provide funds which will assist homeowners achieve housing cost affordability through principal 

reduction or post-loss mitigation lien extinguishment.

HAF Funds may be used to bring the account fully current, with no remaining delinquent amounts, and to repay amounts advanced by the lender or servicer on the 

borrower’s behalf for property charges, including property taxes, hazard insurance premiums, flood or wind insurance premiums, ground rents, condominium fees, 

cooperative maintenance fees, planned unit development fees, homeowners’ association fees or utilities that the servicer advanced to protect lien position. Payment 

may also include any reasonably required legal fees. HAF Funds may be used for a partial reinstatement if the full reinstatement amount exceeds the household 

maximum. 

Homeowner households who are working with their homeownership loan servicer to complete loss mitigation will have the opportunity to incorporate HAF into their 

default resolution as allowed by servicer procedures and investor guidelines. Servicers should inform the homeowner households who are in default of the availability 

of the funds and should encourage homeowner households to apply for funding to assist with lump sum reinstatement or for principal reduction through the loss 

mitigation process. HAF funds may be used to reimburse partial claim liens after loss mitigation, as allowed for by servicer and investor guidelines.

Assistance will be available for households without access to loss mitigation or that have already exhausted loss mitigation. HAF funds may also be used prior to or 

during the loss mitigation process. To the extent the Common Data File (CDF) is implemented by a servicer, the Participant will utilize the process to verify ongoing loss 

mitigation activity and to facilitate assistance. 
OMB Approved No.: 1505-0269 

Expiration Date: 10/31/2021 

Maximum amount of

assistance per homeowner

Each household will be eligible for up to $20,000 of HAF funding to be used only for the homeowner’s primary residence. 

If a household is requesting assistance for multiple eligible housing costs such as property taxes or annual homeowner’s insurance premiums, whether in conjunction 

with delinquent payment assistance or separate and apart from a monthly homeownership payment structure, and/or is requesting assistance through other program 

design elements (with the exception of the utility assistance program design element), the per household award shall not exceed $20,000. Utility assistance has a 

separate household maximum and is excluded from the $20,000 household maximum benefit available for the pilot, homeownership loan reinstatement/loss 

mitigation, homeownership loan payment, property charge (insurance) default resolution and property charge (taxes) default resolution program design elements. 

Homeowner eligibility

criteria and documentation

requirements

 

Households are eligible to receive loan reinstatement/loss mitigation assistance if they (1) attest that they experienced a financial hardship after January 21, 2020 

associated with the COVID-19 pandemic, (2) provide income documentation and have incomes equal to or less than 150% of the area median income or 100% of the 

median income for the United States, whichever is greater, and (3) currently own and occupy a primary residence in New Mexico.

To be eligible for reinstatement and/or loss mitigation assistance, the applicant(s) will provide a self-attestation that the household is able to resume the monthly 

housing payment following receiving assistance. Assistance is limited to a one-time benefit per household but can be applied in combination to provide the maximum 

benefit to the homeowner. 

To be eligible for an award for principal reduction, applicants must be working with their loan servicer independently or with the assistance of a housing counselor to 

explore available loss mitigation and be approved by their loan servicer for a principal reduction solution and be able to resume payments following assistance. 

Where loss mitigation is available, HAF funds may be used to supplement other forms of loss mitigation. Assistance will be available for households without access to 

loss mitigation or that have already exhausted loss mitigation. HAF funds may also be used prior to or during the loss mitigation process.

Indicate documentation requirements listed here: 

Documentation requirements include a legally issued form of identification, documents needed to verify household income, and documentation needed to verify the 

reinstatement amount such as a current homeownership loan statement or reinstatement quote, or other evidence of housing cost delinquency and/or a partial claim. 

In some instances, evidence of a valid loss mitigation offer from a loan servicer may be required to evidence principal reduction amounts. 

To the extent the Common Data File (CDF) is implemented by a servicer, the Participant will utilize the process to verify reinstatement/loss mitigation amounts through 

the servicer.
OMB Approved No.: 1505-0269 

Expiration Date: 10/31/2021 

Loan eligibility criteria

specific to the program

Delinquent by at least one payment, including any payments during a forbearance period, or, in the case of a reverse mortgage, has outstanding property charges 

whether in default or in a repayment plan. A payment will be considered delinquent one (1) day following the due date.

Eligible loans include a mortgage, deed of trust, or other consensual security interest on a principal residence and homeowners with consensual contractual 

agreements on a principal residence such as real estate contracts, lease-purchase contracts, mobile/manufactured home loans, chattel loans and/or land contracts. 

Eligible properties include single-family residential properties, condominiums and townhomes, manufactured homes permanently affixed to real property and taxed as 

real estate, and mobile homes not permanently affixed to real property.

Home Equity Line of Credit (HELOC) loans are ineligible. 

Form of assistance

Assistance will be structured as a non-recourse grant. Assistance is not required to be repaid and the Participant will not collect or issue taxable income documentation 

such as W-9 or 1099 forms, except in cases where the funds are be paid directly to an individual lienholder without an LLC or LLC. This may include private lienholders 

of homeownership contracts, lease to own contracts, manufactured home land/lot contracts, etc. Private contract lienholders will be required to opt into the program 

and provide their social security number or taxpayer identification number. 

Payment requirements

 

MFA will disburse HAF assistance directly via check or electronic funds transfer to the homeownership loan lender/servicer, land contract holder, manufactured/mobile 

home lender, and/or other housing provider as appropriate. 
OMB Approved No.: 1505-0269 

Expiration Date: 10/31/2021 

Homeownership Loan Payment Assistance 

New Mexico Homeowner Assistance Fund – Homeownership Loan Payment Assistance 

Criteria Program Terms

Brief description The Homeownership Loan Payment Assistance program design element will provide payment assistance to homeowner households unable to make mortgage or 

homeownership loan payments due to financial hardship associated with the Coronavirus pandemic. 

HAF funds may be used to reduce a homeowner’s mortgage/homeownership loan payments for monthly housing payments due within a 12-month period following the 

initial date of approval of the application. The Participant will allocate funding on a first come, first served basis, and will not reserve the entire household maximum for 

each approved application. Ongoing monthly assistance will be available as described as long as funding is available. 

Where loss mitigation is available, HAF funds may be used to supplement loss mitigation. Assistance will be available for households without access to loss mitigation or 

that have already exhausted loss mitigation. HAF funds may also be used prior to or during the loss mitigation process. To the extent the Common Data File (CDF) is 

implemented by a servicer, the Participant will utilize the process to verify ongoing loss mitigation activity and to facilitate monthly payment assistance.

Maximum amount of

assistance per homeowner

Each household will be eligible for up to $20,000 of HAF funding, to be used only for the homeowner household’s primary residence. 

If a household is requesting assistance for multiple eligible housing costs such as property taxes or annual homeowner’s insurance premiums, whether in conjunction 

with delinquent payment assistance or separate and apart from a monthly homeownership payment structure, and/or is requesting assistance through other program 

design elements (with the exception of the utility assistance program design element), the per household award shall not exceed $20,000. Utility assistance has a 

separate household maximum and is excluded from the $20,000 household maximum benefit available for the pilot, homeownership loan reinstatement/loss 

mitigation, homeownership loan payment, property charge (insurance) default resolution and property charge (taxes) default resolution program design elements.
OMB Approved No.: 1505-0269 

Expiration Date: 10/31/2021 

Homeowner eligibility

criteria and documentation

requirements

Homeowner households are eligible to receive assistance under the mortgage payment assistance program design element if they (1) attest that they experienced a 

financial hardship after January 21, 2020 associated with the COVID-19 pandemic, (2) provide income documentation and have incomes equal to or less than 150% of 

the area median income or 100% of the median income for the United States, whichever is greater, and (3) currently own and occupy a primary residence in New 

Mexico.

Where loss mitigation is available, HAF funds may be used to supplement loss mitigation. Assistance will be available for households without access to loss mitigation or 

that have already exhausted loss mitigation. HAF funds may also be used prior to or during the loss mitigation process.

In order for homeowner households to receive monthly housing payments due within a 12-month period following the initial date of approval of the application, the 

household must also meet the following criteria:

• The household will provide a self-attestation that the household is struggling to sustain their housing payments due to unemployment or zero income. 

• The household’s contractual homeownership loan payment(s) exceed(s) 40% of the household’s gross income, if any.

• One or more household members is unemployed and receiving unemployment benefits.

Indicate documentation requirements: 

Documentation requirements include a legally issued form of identification, documents needed to verify household income, and documentation needed to verify past 

due amounts, if applicable, and/or the contractual monthly payment such as a homeownership loan statement or other evidence of housing cost delinquency. 

Documentation evidencing unemployment, such as unemployment benefits or affidavit of zero income. Documentation may be required to recertify income and 

eligibility status every three (3) months of assistance. 

Loan eligibility criteria

specific to the program

Delinquent by at least one payment, including any payments during a forbearance period. A payment will be considered delinquent one (1) day following the due date.

Eligible loans include those with a mortgage, deed of trust, or other consensual security interest on a principal residence and homeowners with consensual contractual 

agreements on a principal residence such as real estate contracts, lease-purchase contracts, mobile/manufactured home loans, chattel loans and/or land contracts. 

Eligible properties include single-family residential properties, condominiums and townhomes, manufactured homes permanently affixed to real property and taxed as 

real estate, and mobile homes not permanently affixed to real property.

Home Equity Line of Credit (HELOC) loans are ineligible.
OMB Approved No.: 1505-0269 

Expiration Date: 10/31/2021 

Form of Assistance Assistance will be structured as a non-recourse grant. Assistance is not required to be repaid and the Participant will not collect or issue taxable income documentation 

such as W-9 or 1099 forms, except in case where the funds are be paid directly to an individual lienholder without an LLC or LLC. This may include private lienholders of 

homeownership contracts, lease to own contracts, manufactured home land/lot contracts, etc. Private contract lienholders will be required to opt into the program and 

provide their social security number or taxpayer identification number. 

Payment requirements MFA will disburse HAF assistance directly via check or electronic funds transfer to the mortgage lender/servicer, land contract holder, manufactured/mobile home 

lender and/or other housing provider as appropriate.
OMB Approved No.: 1505-0269 

Expiration Date: 10/31/2021 

Property Charge Default Resolution (Insurance)

New Mexico Homeowner Assistance Fund – Property Charge Default Resolution (Insurance)

Criteria Program Terms

Brief description The Property Charge Default Resolution (Insurance) program design element will provide up $20,000 per household to resolve any property charge default that 

threatens a homeowner’s ability to sustain ownership of the property. This program design element is intended to assist with property charges outside of a 

homeownership loan escrow or not covered under the Homeownership Loan reinstatement/loss mitigation or Homeownership Loan Payment Assistance program 

design elements (which will also pay property charges associated with homeownership loan escrows). 

HAF Funds may be used to pay past due property insurance premiums that threaten sustained ownership of the property and must be brought current by program 

assistance or resolved concurrently with the program design element providing assistance. 

Each household may receive funding for up to three years for insurance premiums including force placed insurance. Funds may also be used to pay property charges 

coming due in the 90 days following household application approval. 

Maximum amount of

assistance per homeowner

Each household will be eligible for up to $20,000 of HAF funding with respect to the applicant’s primary residence. Each household may receive funding for up to three

years of premiums, including force placed insurance. Funds may also be used to pay property charges coming due in the 90 days following household application

approval.

If a household is requesting assistance for multiple eligible housing costs such as property taxes or annual homeowner’s insurance premiums, whether in conjunction 

with delinquent payment assistance or separate and apart from a monthly homeownership payment structure, and/or is requesting assistance through other program 

design elements (with the exception of the utility assistance program design element), the per household award shall not exceed $20,000. Utility assistance has a 

separate household maximum and is excluded from the $20,000 household maximum benefit available for the pilot, homeownership loan reinstatement/loss 

mitigation, homeownership loan payment, property charge (insurance) default resolution and property charge (taxes) default resolution program design elements.
OMB Approved No.: 1505-0269 

Expiration Date: 10/31/2021 

Homeowner eligibility

criteria and documentation

requirements 

 

Homeowner households are eligible to receive property charge assistance under the NMHAF if they (1) attest that they experienced a financial hardship after January 

21, 2020 associated with the COVID-19 pandemic, (2) provide income documentation and have incomes equal to or less than 150% of the area median income or 100% 

of the median income for the United States, whichever is greater, and (3) currently own and occupy a primary residence in New Mexico.

In order to receive assistance, the applicant(s) will provide a self-attestation that the household is able to resume the monthly housing payment (where applicable)

following receiving assistance.

Homeowner household is at least one installment payment in arrears on one or more property charges including: 

• Insurance: homeowner, hazard, flood, wind premiums 

Indicate documentation requirements: 

Documentation requirements include a legally issued form of identification, documents needed to verify household income, and documentation needed to verify

property charge delinquency such as an invoice or other evidence of property charges delinquency. 

Loan eligibility criteria

specific to the program

N/A 

Form of assistance

Assistance will be structured as a non-recourse grant. Assistance is not required to be repaid and the Participant will not collect or issue taxable income documentation 

such as W-9 or 1099 forms. 
OMB Approved No.: 1505-0269 

Expiration Date: 10/31/2021 

Payment requirements

 

MFA will disburse HAF assistance via check or electronic funds transfer directly to the eligible entity to which the housing cost is due. 
OMB Approved No.: 1505-0269 

Expiration Date: 10/31/2021 

Property Charge Default Resolution (Taxes)

New Mexico Homeowner Assistance Fund – Property Charge Default Resolution (Taxes)

Criteria Program Terms

Brief description The Property Charge Default Resolution (Taxes) program design element will provide up $20,000 per household to resolve any property charge default that threatens a 

homeowner’s ability to sustain ownership of the property. This program design element is intended to assist with property charges outside of a homeownership loan 

escrow or not covered under the Homeownership Loan reinstatement/loss mitigation or Homeownership Loan Payment Assistance program design elements (which 

will also pay property charges associated with homeownership loan escrows). 

HAF Funds may be used to pay past due property taxes that threaten sustained ownership of the property and must be brought current by program assistance or resolved 

concurrently with the program design element providing assistance. 

Each household may receive funding for up to three years of delinquent taxes. Funds may also be used to pay property charges coming due in the 90 days following 

household application approval. 

Maximum amount of

assistance per homeowner

Each household will be eligible for up to $20,000 of HAF funding with respect to the applicant’s primary residence. Each household may receive funding for up to three 

years of delinquent taxes. Funds may also be used to pay property charges coming due in the 90 days following household application approval.

If a household is requesting assistance for multiple eligible housing costs such as property taxes or annual homeowner’s insurance premiums, whether in conjunction 

with delinquent payment assistance or separate and apart from a monthly homeownership payment structure, and/or is requesting assistance through other program 

design elements (with the exception of the utility assistance program design element), the per household award shall not exceed $20,000. Utility assistance has a 

separate household maximum and is excluded from the $20,000 household maximum benefit available for the pilot, homeownership loan reinstatement/loss 

mitigation, homeownership loan payment, property charge (insurance) default resolution and property charge (taxes) default resolution program design elements.
OMB Approved No.: 1505-0269 

Expiration Date: 10/31/2021 

Homeowner eligibility

criteria and documentation

requirements 

 

Homeowner households are eligible to receive property charge assistance under the NMHAF if they (1) attest that they experienced a financial hardship after January 

21, 2020 associated with the COVID-19 pandemic, (2) provide income documentation and have incomes equal to or less than 150% of the area median income or 100% 

of the median income for the United States, whichever is greater, and (3) currently own and occupy a primary residence in New Mexico.

In order to receive assistance, the applicant(s) will provide a self-attestation that the household is able to resume the monthly housing payment (where applicable) 

following receiving assistance.

Homeowner household is at least one installment payment in arrears on one or more property charges including: 

• Property taxes 

Indicate documentation requirements: 

Documentation requirements include a legally issued form of identification, documents needed to verify household income, and documentation needed to verify 

property charge delinquency such as a tax statement, invoice, or other evidence of property charges delinquency. 

Loan eligibility criteria

specific to the program

N/A 

Form of assistance

Assistance will be structured as a non-recourse grant. Assistance is not required to be repaid and the Participant will not collect or issue taxable income documentation 

such as W-9 or 1099 forms. 
OMB Approved No.: 1505-0269 

Expiration Date: 10/31/2021 

Payment requirements

 

MFA will disburse HAF assistance via check or electronic funds transfer directly to the eligible entity to which the housing cost is due. 
OMB Approved No.: 1505-0269 

Expiration Date: 10/31/2021 

Utility Payment Assistance

New Mexico Homeowner Assistance Fund – Utility Assistance

Criteria Program Terms 

Brief description

The Utility Assistance Program will provide funds to resolve delinquent payments for utility services. 

HAF funds may be used to pay delinquent amounts in full, including interest or reasonably required legal fees, under circumstances in which a delinquency threatens 

access to utility services. The provided assistance will strive to bring the homeowner’s account current. 

Funds may be used to pay prospective charges for up to the first 90 days following approval if the homeowner is unable to make such payments and (i) funds are not 

available from other federally funded utility assistance programs to cover these amounts and (ii) the homeowner indicates the financial ability to resume making such 

payments after the initial 90-day period. 

Maximum assistance per

homeowner

Each household will be eligible for up to $1,000 through this program.
OMB Approved No.: 1505-0269 

Expiration Date: 10/31/2021 

Homeowner eligibility

criteria and documentation

requirements

 

Homeowner households are eligible to receive property charge assistance under the NMHAF if they (1) attest that they experienced a financial hardship after January 

21, 2020 associated with the COVID-19 pandemic, (2) provide income documentation and have incomes equal to or less than 150% of the area median income or 100% 

of the median income for the United States, whichever is greater, and (3) currently own and occupy a primary residence in New Mexico.

Additional requirements: 

• Homeowner is at least one installment payment in arrears on one or more of the following: utilities, such as electric, gas, home energy, and water. 

• An attestation by the homeowner(s) that assistance sufficient to resolve the delinquency is not available from other utility assistance programs and, without 

HAF assistance, the homeowner is likely to lose services 

Participating homeowners will be required to provide the following documentation in order to establish both need and program eligibility. Documentation requirements 

include, a legally issued form of identification, documents needed to verify household income and documents needed to verify homeownership, (e.g., a current 

homeownership loan statement, deed, title), and documentation of utility cost delinquency.

Loan eligibility criteria

specific to the program

N/A

Form of assistance

Assistance will be structured as a non-recourse grant. Assistance is not required to be repaid and the Participant will not collect or issue taxable income documentation 

such as W-9 or 1099 forms. 
OMB Approved No.: 1505-0269 

Expiration Date: 10/31/2021 

Payment requirements

 

Funds will be paid directly to the utility provider or other applicable third-party authorized to collect eligible charges.

 
OMB Approved No.: 1505-0269 

Expiration Date: 10/31/2021 

New Mexico Homeowner Assistance Fund Pilot Program

New Mexico Homeowner Assistance Fund – Pilot Program

Criteria Program Terms

Brief description

The New Mexico Homeowner Assistance Fund pilot program provides emergency housing grants to income-eligible households experiencing financial hardship 

associated with the COVID-19 health crisis.

These grants are to fund homeownership loan payments and other homeownership costs (e.g. – property taxes, HOA/COA fees, insurance) equal to the amount of the 

monthly cost made on behalf of income-eligible applicants up to $10,000 per household, to maintain housing and/or to reduce housing cost delinquency associated 

with the COVID-19 health crisis. Some mobile/manufactured home lot rental payments may also be covered if the homeowner also has a mobile/manufactured loan 

homeownership payment.

Maximum amount of

assistance per homeowner

During the pilot phase of the program, each household will be eligible for up to $10,000 of HAF funding to be used only for the homeowner’s primary residence. 

Homeowners who receive assistance during the pilot phase will be eligible to apply for additional assistance from the permanent program design elements including 

reinstatement/loss mitigation, payment assistance, and property charge default resolution.

If a household is requesting additional assistance after receiving assistance during the pilot for multiple eligible housing costs such as property taxes or annual 

homeowner’s insurance premiums, whether in conjunction with delinquent payment assistance or separate and apart from a monthly homeownership payment 

structure, and/or is requesting assistance through other program design elements (with the exception of the utility assistance program design element), the per 

household award shall not exceed $20,000. Utility assistance has a separate household maximum and is excluded from the $20,000 household maximum benefit 

available for the pilot, homeownership loan reinstatement/loss mitigation, homeownership loan payment, property charge (insurance) default resolution and property 

charge (taxes) default resolution program design elements. 
OMB Approved No.: 1505-0269 

Expiration Date: 10/31/2021 

Homeowner eligibility

criteria and documentation

requirements

 

Households are eligible to receive reinstatement assistance if they (1) certify that they experienced a financial hardship after January 21, 2020 associated with the 

COVID-19 pandemic, (2) provide income documentation and have incomes equal to or less than 100% of the area median income, and (3) currently own and occupy a 

primary residence in New Mexico.

Indicate documentation requirements listed here: 

Documentation requirements include a legally issued form of identification, documents needed to verify household income, and documentation needed to verify the 

delinquent amounts such as a current homeownership loan statement or reinstatement quote, or other evidence of housing cost delinquency. 

Loan eligibility criteria

specific to the program

Delinquent by at least one payment, including any payments during a forbearance period. A payment will be considered delinquent one (1) day following the due date.

Eligible loans include a mortgage, deed of trust, or other consensual security interest on a principal residence and homeowners with consensual contractual 

agreements on a principal residence such as real estate contracts, lease-purchase contracts, mobile/manufactured home loans, chattel loans and/or land contracts. 

Eligible properties include single-family residential properties, condominiums and townhomes, manufactured homes permanently affixed to real property and taxed as 

real estate, and mobile homes not permanently affixed to real property.

Form of assistance

Assistance will be structured as a non-recourse grant. Assistance is not required to be repaid and the Participant will not collect or issue taxable income documentation 

such as W-9 or 1099 forms, except in cases where the funds are be paid directly to an individual lienholder without an LLC or LLC. This may include private lienholders 

of homeownership contracts, lease to own contracts, manufactured home land/lot contracts, etc. Private contract lienholders will be required to opt into the program 

and provide their social security number or taxpayer identification number. 
OMB Approved No.: 1505-0269 

Expiration Date: 10/31/2021 

Payment requirements

 

MFA will disburse HAF assistance directly via check or electronic funds transfer to the homeownership loan lender/servicer, land contract holder, manufactured/mobile 

home lender, and/or other housing provider as appropriate.