South Carolina Homeownership & Employment Lending Program 

(HFA Hardest-Hit Fund) 

Proposal for Use of Funds 

Background and Program Overview 

On March 29, 2010, President Obama announced a second round of HFA Hardest-Hit 

Fund funding using TARP funds as administered by the U.S. Department of the Treasury 

(“Treasury”). The purpose of this second round was to address states where the 

combined impact of high foreclosures and high unemployment continues to put enormous 

pressure on homeowners and local economies. The South Carolina State Housing 

Finance and Development Authority (“Authority”) was designated to receive and 

administer, via an eligible entity, up to $138 million in funding under this program. 

Upon receipt of the announcement, the Authority immediately began working to put the 

necessary pieces in place to properly request and administer the funds. 

• Work to establish the eligible entity as described by Treasury was begun. (The 

eligible entity, SC Housing Corp., is referred to in this document as “SCHC.”) 

• A meeting was held on April 14, 2010 to gather ideas and input from lenders, 

servicers, counseling agencies, attorneys, other state agencies, and local 

governments. 

• Internal staff members were immediately re-tasked to focus on creating the 

proposal for Treasury and to begin building the infrastructure required to 

implement the program. 

• Discussion with other interested parties from across the State are still ongoing, 

with another series of meetings structured around implementation already in the 

planning stages. 

For marketing and other purposes, the funding in South Carolina will be known as the 

South Carolina Homeownership & Employment Lending Program (SC HELP) and will 

be referred to generically in this document as “SC HELP”. 

Section I. 

Based on discussions with Treasury and input from staff and other interested groups, the 

Authority originally intended to propose a variety of programs, grouped under two 

separate but cooperative strategies. This two-pronged approach was intended to insure 

that the funding is used for maximum benefit in South Carolina. The two high-level 

strategies were Direct Foreclosure Mitigation and Employment Assistance. However, 

recent clarifications from Treasury regarding allowable expenditures under EESA have 

dramatically altered the Authority’s original plan. With these clarifications, the 

Employment Assistance strategy has been dropped altogether, and two programs have 

been discarded under the Direct Foreclosure Mitigation strategy. Specifically, the 

following programs were affected: 

SC HELP Proposal 
Deleted 

Program 

Brief Description 

Job Training 

Funds would be used to provide financial assistance to qualified 

homeowners in very-high unemployment areas to assist them in 

acquiring new job skills. This would be of particular value in 

counties where entire industries have ceased operations. 

Job Creation 

By partnering with the SC Department of Commerce, the Authority 

planned to use Program funds to help recruit new industry and jobs 

into those counties where unemployment is a chronic problem. By 

using financial incentives to bring jobs to these areas, SC HELP 

would be focusing again on long term sustainability and overall 

economic growth within the State while leveraging the efforts and 

funds of the Department of Commerce. 

Legal 

Assistance 

Many homeowners on the brink foreclosure are not aware of the fact 

that lenders in South Carolina participating in the Home Affordable 

Modification Program (“HAMP”)are required to exhaust all HAMP 

opportunities prior to foreclosure. Furthermore, there are often 

opportunities for mediation that could potentially avoid foreclosure 

altogether. The Authority intended to make funds available to 

provide legal representation to eligible homeowners to insure that 

each family is treated fairly and equitably. 

General 

Foreclosure 

Counseling 

The Authority acknowledges that virtually all borrowers facing 

possible foreclosure, not just those eligible for assistance under 

TARP-funded programs, could benefit from professional counseling 

by a qualified foreclosure mitigation specialist. With this in mind, 

funds would be used to ensure that counseling is made available 

statewide to borrowers who request it. 

Funds 

Recycling 

Although not a specific program, the Authority originally intended to 

make the majority of program awards as repayable loans with 

minimal interest and an extended term. The intent was that 

beneficiaries would repay funds over a 15 year term, thus allowing 

SC HELP to recycle these funds and assist additional citizens over an 

extended period of time. 

However, now that a program end-date has been established in 2017, 

there is no longer an opportunity for prolonged funds recycling. All 

loans made through SC HELP will therefore be forgivable. 

Although these programs are no longer included in this proposal, the Authority 

respectfully requests that Treasury consider any and all alternatives that may allow these 

to be included now, or at a later date. 

SC HELP Proposal 
Throughout this proposal, as well as in discussions with potential partners, the Authority 

uses the term “responsible borrowers” to describe the beneficiary group for SC HELP. 

Put simply, SC HELP funds will be used to assist those borrowers who are facing 

possible foreclosure due to circumstances beyond their control, i.e. under/unemployment, 

death of a spouse, catastrophic medical expenses, and/or divorce. SC HELP is NOT 

intended to serve borrowers who are facing foreclosure due to poor credit and/or debt 

management, stripping the equity from their home for non-essential purposes, or overall 

mismanagement of their personal budget. 

The Authority is proposing to partner with counseling agencies and lenders/servicers to 

identify borrowers who may need additional time to become re-employed at a salary that 

is sufficient to cover their existing mortgage payments, or to be approved for a mortgage 

modification. The assistance could come in several different forms, such as monthly 

payment assistance, payment of outstanding arrearages, or a contribution to make the 

existing loan eligible for modification. 

The Authority intends to leverage and recycle SC HELP funds at every opportunity; 

leveraging with funds already in the State for counseling, as well as programs offered by 

loan servicers. 

Housing & Employment in South Carolina 

The combined impact of record-high foreclosures and unemployment continues to wreak 

havoc on the housing industry, as well as the general economy, of South Carolina. While 

the State has not seen the steep declines in housing prices that have affected other states, 

new growth in housing and construction is critical to overall recovery. 

Chart Key: High Risk/High Count 

High Risk/Low Count 

Low Risk/High Count 

Low Risk/Low Count 

SC HELP Proposal 
SC HELP Proposal 

County 

Estimated 

Mortgages 

06/08 

FC Rate 

06/08 

Price 

Change 

2000-2008 

Unemployment 06/08 Unemploy- ment 2009 HUD FC Risk 06/08 

Allendale County 520 9.4% 0.0% 14.6% 21.4% 10.00 Calhoun County 1,200 5.2% 0.0% 7.1% 12.6% 4.94 Saluda County 1,636 4.0% 0.0% 5.3% 9.9% 4.66 Bamberg County 995 9.3% 0.0% 10.9% 16.5% 9.42 McCormick County 1,234 4.3% 0.0% 10.0% 16.8% 8.24 Lee County 1,346 8.0% 0.0% 9.4% 14.9% 7.72 Hampton County 1,487 8.7% 0.0% 8.5% 15.4% 10.00 Williamsburg County 1,664 9.3% 0.0% 9.7% 15.1% 6.06 Jasper County 3,122 5.3% 0.0% 5.7% 10.6% 8.43 Edgefield County 3,226 3.8% 0.0% 6.2% 10.7% 6.45 Marlboro County 2,026 7.4% 0.0% 10.8% 19.5% 7.37 Barnwell County 2,240 7.3% 0.0% 10.1% 17.5% 9.43 Dillon County 2,644 7.3% 0.0% 9.7% 15.7% 7.58 Abbeville County 3,223 5.4% 0.0% 8.0% 14.9% 7.76 Clarendon County 2,878 5.7% 0.0% 9.2% 15.5% 5.20 Fairfield County 2,903 6.7% 0.0% 10.6% 13.4% 6.03 Chesterfield County 4,423 4.7% 0.0% 8.3% 17.1% 5.79 Colleton County 4,718 6.3% 0.0% 7.8% 13.5% 6.95 Union County 3,330 7.7% 0.0% 11.3% 19.9% 6.70 Marion County 3,249 8.1% 0.0% 12.2% 20.8% 8.22 Newberry County 5,545 5.3% 0.0% 7.3% 11.8% 7.50 Chester County 4,702 7.3% 0.0% 10.8% 20.5% 7.61 Laurens County 8,060 5.4% 0.0% 6.5% 12.0% 7.25 Cherokee County 6,537 6.1% 0.0% 8.3% 16.4% 8.47 Darlington County 8,827 5.7% 0.0% 8.2% 13.4% 6.54 Kershaw County 12,182 4.3% 0.0% 6.3% 11.0% 5.05 Oconee County 11,365 3.8% 0.0% 6.9% 13.7% 6.24 Greenwood County 12,562 4.2% 0.0% 7.1% 12.9% 6.97 Georgetown County 14,079 3.4% 0.0% 6.9% 12.3% 5.36 
County 

Estimated 

Mortgages 

06/08 

FC Rate 

06/08 

Price 

Change 

2000-2008 

Unemployment 06/08 Unemploy- ment 2009 HUD FC Risk 06/08 

Orangeburg County 9,729 7.9% 0.0% 10.3% 15.9% 6.64 Lancaster County 11,668 5.6% 0.0% 10.1% 17.9% 6.69 Sumter County 15,049 6.0% -2.3% 7.8% 13.0% 7.27 Pickens County 22,133 3.7% 0.0% 5.9% 10.8% 5.60 Aiken County 27,136 3.2% 0.0% 6.0% 9.7% 5.73 Florence County 24,213 5.2% 0.0% 7.8% 11.8% 6.00 Beaufort County 52,917 2.2% 0.0% 4.7% 8.8% 4.86 Dorchester County 43,876 3.9% 0.0% 5.9% 10.2% 4.64 Anderson County 37,598 4.5% 0.0% 7.9% 12.6% 6.81 Lexington County 64,447 3.1% 0.0% 4.8% 8.4% 4.31 Berkeley County 49,123 4.5% 0.0% 6.4% 10.7% 4.24 Horry County 81,236 4.0% -3.2% 5.9% 12.2% 5.16 Spartanburg County 60,929 4.9% 0.0% 8.3% 12.4% 6.45 York County 72,055 4.1% 0.0% 7.5% 14.2% 4.93 Charleston County 117,645 2.7% 0.0% 5.4% 9.1% 4.36 Greenville County 115,720 3.0% 0.0% 5.6% 10.2% 5.62 Richland County 93,216 5.0% 0.0% 7.6% 9.6% 6.51 

SC HELP Proposal
SC HELP Proposal 

Direct Foreclosure Mitigation 

As touched on earlier, the core of the Authority’s proposal is providing assistance to 

responsible borrowers who are facing foreclosure as a result of one or more hardships 

encountered since purchasing the home. These borrowers were self-sustaining, and our 

primary goal is to return them to that position as quickly as possible. The specific 

programs proposed under this strategy are as follows: 

Monthly Payment Assistance 

Under this program, funding will be provided on a monthly basis to assist eligible 

homeowners in making all or part of their monthly mortgage payments. The terms and 

length of this assistance will vary based on the specific circumstance and needs, and will 

be reviewed monthly during the assistance period. 

The goal of this program is to bridge borrowers across a gap in income, thus giving them 

time to become self-sustaining and avoid delinquency or foreclosure. 

Direct Loan Assistance 

In some cases borrowers may have fallen behind on their mortgage payments, but have 

since regained the ability to make the full payment. Under these circumstances, there 

may be an accrued arrearage owed to the lender which, until paid, places a hardship on 

the borrower due to a continued accumulation of late fees and collection efforts. Under 

this program, funding will be provided to bring the loan current. This program also 

provides for limited principal reductions in order to ensure loan affordability. 

This program is intended to give re-established borrowers a “kick-start” by bringing them 

current on their loan. By avoiding a continuing accrual of capitalized arrearages, the 

borrowers will be better able to remain current on their loan and avoid delinquency or 

foreclosure. 

HAMP Assistance 

The majority of lenders in South Carolina are offering troubled borrowers the opportunity 

to modify their loans under certain circumstances. The most notable of these programs is 

the Home Affordable Modification Program (“HAMP”). According to many loan 

servicers, there are many borrowers whose proposed modifications fail the net-presentvalue (NPV) test for eligibility by a relatively small amount. Under this program, 

funding will be provided to bridge the gap so that the mortgage can be modified to an 

affordable level, thus keeping borrowers out of foreclosure. 
Second Mortgage Assistance 

Many borrowers find themselves ineligible for HAMP due to the presence of a second 

lien where the investor holding that lien is unwilling or unable to agree to the modified 

loan terms. Under this program, funding will be used to provide a financial incentive to 

the investor, or, in some cases, to acquire (or refinance) the second lien from the current 

investor, thus making the borrower eligible for first mortgage modification. 

Property Disposition Assistance 

The Authority recognizes that there will be a segment of borrowers whose situation is 

unrecoverable, and who need assistance in gracefully exiting homeownership. Funds will 

be used to facilitate short sales and deeds in lieu of foreclosure, as well as to help provide 

deposits and other funds needed to transition families from homeownership to renting. 

The Authority will also make SCHousingSearch.com, the Authority’s online affordable 

rental database, available to these families. 

Section II. 

In recognition of the fact that each eligible household in South Carolina will bring its 

own unique needs and challenges, we intend to offer the programs under SC HELP in an 

integrated, holistic manner. Instead of offering each program in a free-standing “silo”, all 

applicants to SC HELP will be reviewed against the menu of available programs so that a 

custom solution, often encompassing multiple programs, can be brought to bear. 

In order to account for the high level of program integration, this Section will, by 

necessity, focus on the integrated delivery process, and the shared partners and overall 

capacity required to make it work. The individual term sheets will outline the key 

program parameters and specific requirements and goals. 

A solid delivery methodology, coupled with statewide partnerships, are the keys to the 

success of SC HELP. Authority staff is already hard at work building the infrastructure 

to insure that funds will flow quickly to eligible families across South Carolina. 

Following is a graphical representation of the primary intake and delivery processes, 

followed by more detailed descriptions of several key components. 

SC HELP Proposal 
SC HELP Proposal 
Initial Program Intake 

The Authority expects that borrowers will access SC HELP from a multitude of 

directions, including: counseling agencies, attorneys, lender/servicers, advertising, and 

referrals from other programs. Given the disparate methods of entry, it is imperative that 

a central intake point be established where borrowers can start the process via phone or 

internet. This will allow the Authority to capture some basic information on the frontend, thus insuring reliable reporting and that eligible borrowers don’t “slip through the 

cracks” and get overlooked. 

The Authority is proposing that SCHC contract with one outside contractor to provide 

these intake services, to include staffing a call center, providing a web-enabled front-end 

presence, and automated client tracking. While the intake provider will not be 

responsible for any direct counseling, an understanding of the housing market in South 

Carolina is essential to the success of SC HELP. 

SC HELP Proposal 
SC HELP Proposal 
Foreclosure Mitigation Specialists 

The Foreclosure Mitigation Specialist (“Mitigation Specialist” or “FMS”) function is the 

backbone of the entire Program. Providing consistent access and content across the State 

is critical to ensuring that all eligible borrowers have access to SC HELP in the same 

manner. The Authority intends to leverage the existing network of counselors in South 

Carolina by having SCHC contract with these groups to fill the Mitigation Specialist role. 

After a borrower has completed the intake process, a handoff will occur whereby 

responsibility for that borrower passes on to a designated Mitigation Specialist. The 

Specialist will be responsible for working directly with the borrower and lender to 

explore all possibilities for preventing foreclosure. The Mitigation Specialists will 

specifically be responsible for pre-qualifying borrowers for all available TARP-funded 

programs, including HAMP and SC HELP. The Mitigation Specialist will also gather all 

necessary documentation for a final determination of eligibility. 

It is expected that the Mitigation Specialist will electronically image all borrower 

documentation leveraging web-enabled technology already in use by the Authority. The 

Mitigation Specialist will remain the borrower’s primary point of contact throughout the 

assistance period. 

SC HELP Proposal 
SC HELP Proposal 
Program Underwriting 

Once the Mitigation Specialist has determined that a borrower needs, and is qualified for, 

the assistance of SC HELP, the data and documents gathered by the agency will be 

transmitted to SCHC for review and final eligibility determination. 

Much like with the counseling agencies, the Authority intends to utilize outside parties to 

facilitate the underwriting process. By using geographically distributed underwriters, 

often working from home, the Authority will be able to limit overall administrative 

expenses. SCHC will provide ongoing training and file review to insure that underwriters 

are consistent in their decisions. An appeal process for review by Authority or SCHC 

staff will also be available. 

SC HELP Proposal 
SC HELP Proposal 
Loan Closing & Funds Disbursement 

As stated before, a key component of this proposal is the idea that most direct assistance 

will be in the form of loans. The terms of these loans will range from forgivable to 

repayable with minimal interest, depending on the type of assistance provided and 

characteristics of the request. In every case, however, the funds will be secured by the 

borrower’s home in the form of a subordinate lien. 

In order to accomplish this, the Authority proposes partnerships between SCHC and 

closing agents, document preparation companies, and the Authority’s Loan Servicing 

division. Much as with the distributed underwriting model, this allows us to control 

administrative costs while leveraging the existing capabilities of other organizations. 

Once the loan documents are in place, SCHC will utilize the Authority’s Finance division 

to process payment requests for each SC HELP program. 

SC HELP Proposal 
SC HELP Proposal 
SC HELP Proposal 
SC HELP Dataset (Subject to Revision) 

Information 

Group 

Data Element(s) Mandatory Data Type 

Homeowner's First Name Y Alphanumeric 

Homeowner's Last Name Y Alphanumeric 

Homeowner's SSN Y Numeric 

Homeowner's Date of birth Date 

Homeowner's Primary Phone Y Numeric 

Homeowner's Primary Phone Type Alphanumeric 

Homeowner's Best time to call at 

Primary phone 

 Alphanumeric 

Homeowner's Secondary Phone Y Numeric 

Homeowner's Secondary Phone 

Type 

 Alphanumeric 

Homeowner's Best time to call at 

Secondary phone 

 Alphanumeric 

Homeowner's Alternate Phone Numeric 

Homeowner's Alternate Phone Type Alphanumeric 

Homeowner's Best time to call at 

Alternate phone 

 Alphanumeric 

Mailing Address1 Y Alphanumeric 

Mailing Address2 Y Alphanumeric 

Mailing Address3 Y Alphanumeric 

City Y Alphanumeric 

County Y Alphanumeric 

State Y Alphanumeric 

Zip Y Numeric 

Homeowner Email Address Alphanumeric 

Do you give permission for your 

mortgage company to contact you 

via email? Yes No 

 Alphanumeric 

Total Number of persons living at 

this address 

Y Numeric 

Number of dependents at this 

address 

Y Numeric 

Co Homeowner's First Name Y Alphanumeric 

Co Homeowner's Last Name Y Alphanumeric 

Co Homeowner's SSN Y Numeric 

Co Homeowner's Date of birth Date 

Co Homeowner's Home Phone Y Numeric 

Co Homeowner's Best time to call 

at Home phone 

 Alphanumeric 

Co Homeowner's Work Phone Y Numeric 

Co Homeowner's Best time to call 

at Work phone 

 Alphanumeric 

Homeowner 

Information 

Co Homeowner's Cell Phone Numeric 

SC HELP Proposal 
Co Homeowner's Best time to call 

at Cell phone 

 Alphanumeric 

Co Homeowner Mailing Address1 Y Alphanumeric 

Co Homeowner Mailing Address2 Y Alphanumeric 

Co Homeowner Mailing Address3 Y Alphanumeric 

Co Homeowner City Y Alphanumeric 

Co Homeowner County Y Alphanumeric 

Co Homeowner State Y Alphanumeric 

Co Homeowner Zip Y Numeric 

Co Homeowner Email address Alphanumeric 

For Co Homeowner - Total Number 

of persons living at 

This address 

 Numeric 

For Co Homeowner – Number of 

dependents 

at this address 

 Numeric 

Property Address1 Y Alphanumeric 

Property Address2 Y Alphanumeric 

Property Address3 Y Alphanumeric 

City Y Alphanumeric 

County Y Alphanumeric 

State Y Alphanumeric 

Property 

Information 

Zip Y Numeric 

Case Type Y Alphanumeric 

First Mortgage Company / Servicer 

/Lien1 

Y Alphanumeric 

First Mortgage Loan Number Y Alphanumeric 

Balance Numeric 

Interest Rate Numeric 

Second Mortgage Company / 

Servicer 

Y Alphanumeric 

Second Mortgage Loan Number Y Alphanumeric 

Balance Y Numeric 

Loan 

Information 

Interest Rate Numeric 

Are you currently or have you been 

working with a counselor? 

Y Alphanumeric 

Name of Counseling Agency Y Alphanumeric 

Counselor Name Alphanumeric 

Contact Number of Counseling 

Agency 

 Alphanumeric 

Counselor Email Alphanumeric 

Counselor 

Information 

Counselor Reference Number N Alphanumeric 

Are you currently employed? Alphanumeric 

Homeowner Employer's Name Y Alphanumeric 

Homeowner Employer's Address1 Y Alphanumeric 

Homeowner 

Employment 

Information 

Homeowner Employer's Address2 Y Alphanumeric 

SC HELP Proposal 
Homeowner Employer's Address3 Y Alphanumeric 

Homeowner Employer's City Y Alphanumeric 

Homeowner Employer's County Y Alphanumeric 

Homeowner Employer's State Y Alphanumeric 

Homeowner Employer's Zip Y Numeric 

Homeowner Employer's Phone # Y Numeric 

Homeowner's Employment How 

long? 

Y Numeric 

If Self Employed, Name of the 

Company 

 Alphanumeric 

Co Homeowner Employer's Name Y Alphanumeric 

Co Homeowner Employer's 

Address1 

Y Alphanumeric 

Co Homeowner Employer's 

Address2 

Y Alphanumeric 

Co Homeowner Employer's 

Address3 

Y Alphanumeric 

Co Homeowner Employer's City Y Alphanumeric 

Co Homeowner Employer's County Y Alphanumeric 

Co Homeowner Employer's State Y Alphanumeric 

Co Homeowner Employer's Zip Y Numeric 

Co Homeowner Employer's Phone 

# 

Y Numeric 

Co Homeowner's Employment How 

long? 

Y Numeric 

If Self Employed, Name of the 

Company 

 Alphanumeric 

Reason #1 Y Alphanumeric 

Reason #2 Y Alphanumeric 

Reason for 

Hardship 

Reason #3 Y Alphanumeric 

Abandonment Alphanumeric 

Business Failure Alphanumeric 

Casualty Loss Alphanumeric 

Loss of Income Alphanumeric 

Death in Family (Not Homeowner) Alphanumeric 

Death of Homeowner Alphanumeric 

Distant Employment Transfer Alphanumeric 

Energy/Environment Cost Alphanumeric 

Excessive obligation Alphanumeric 

Fraud Alphanumeric 

Illness of principal Mortgagor Alphanumeric 

Illness or injury in the family Alphanumeric 

Inability to rent a property Alphanumeric 

Inability to sell property Alphanumeric 

Incarceration Alphanumeric 

Marital Difficulties Alphanumeric 

Military services Alphanumeric 

Payment Adjustment Alphanumeric 

Payment Dispute Alphanumeric 

Hardship 

Reasons 

Property Problem Alphanumeric 

SC HELP Proposal 
Servicing Problem Alphanumeric 

Transfer of Ownership Alphanumeric 

Unemployment Alphanumeric 

Other Alphanumeric 

Total Monthly Gross Income Y Numeric 

Total Monthly Take Home(Net 

Income) 

Y Numeric 

Unemployment Income Y Numeric 

Child Support / Alimony Y Numeric 

Disability Income/SSI Y Numeric 

Rent Received Y Numeric 

Commissions, bonus and selfemployed income 

Y Numeric 

Overtime Numeric 

Other monthly income from 

pensions, annuities or retirement 

plans 

 Numeric 

Food stamps/Welfare Numeric 

Homeowner 

monthly 

income 

Other (Investment income, 

royalties, Interest, dividends etc) 

 Numeric 

Total Monthly Gross Income Y Numeric 

Total Monthly Take Home(Net 

Income) 

Y Numeric 

Unemployment Income Y Numeric 

Child Support / Alimony Y Numeric 

Disability Income/SSI Y Numeric 

Rent Received Y Numeric 

Commissions, bonus and selfemployed income 

Y Numeric 

Overtime Numeric 

Other monthly income from 

pensions, annuities or retirement 

plans 

 Numeric 

Food stamps/Welfare Numeric 

Co 

Homeowner 

monthly 

income 

Other (Investment income, 

royalties, Interest, dividends etc) 

 Numeric 

Monthly Mortgage payment(First 

Mortgage) 

Y Numeric 

Monthly Mortgage payment(Second 

Mortgage) 

Y Numeric 

Monthly Homeowner's Insurance 

Payment (If not included in your 

monthly mortgage payment) 

Y Numeric 

Monthly Property Taxes Y Numeric 

Total Monthly Automobile 

Payment(s) 

Y Numeric 

Total Minimum Monthly Credit Card 

Payment(s) 

Y Numeric 

Expenses 

Total Monthly Child Support/Care 

Expenses 

Y Numeric 

SC HELP Proposal 
Dependent Care Y Numeric 

Total Monthly Medical Expenses Y Numeric 

Total Monthly Grocery Expenses Y Numeric 

Total Monthly Utilities Expenses Y Numeric 

Total Monthly Phone/Cable 

Expenses 

Y Numeric 

Total Monthly Transportation 

Expenses 

Y Numeric 

Total Monthly insurance Payment Y Numeric 

Other Expenses Y Numeric 

Federal and State Tax, FICA Y Numeric 

Other Deductions (401k, etc) Y Numeric 

Rent Y Numeric 

Other Mortgage(s) Y Numeric 

Personal Loan(s) Y Numeric 

HOA Fees/Dues Y Numeric 

Home Y Numeric 

Checking accounts Y Numeric 

Saving / money markets accounts Y Numeric 

Stock, Savings Bonds, CDs Y Numeric 

IRA/Keogh Accounts Y Numeric 

401 k/ESOP Accounts, SEP or 

other retirement accounts 

Y Numeric 

Other Real Estate Y Numeric 

Cars Y Numeric 

Life Insurance(Whole life not Term) Numeric 

Educational savings programs Numeric 

Assets 

Other Numeric 

Alimony/Child support Y Numeric 

Dependent Care Y Numeric 

Rent Y Numeric 

Other Mortgage(s) Y Numeric 

Personal Loan(s) Y Numeric 

Medical Expenses Y Numeric 

HOA Fees/Dues Y Numeric 

Other Numeric 

AUTO LOAN Balance Y Numeric 

Liability 

CREDIT CARD BALANCE Y Numeric 

The property is my: 

Primary Residence 

Second Home 

Investment 

Y Alphanumeric 

Is the amount you owe on your first 

mortgage equal to less Than 

$729750? 

Y Alphanumeric 

Are you having trouble paying your 

mortgage? 

Y Alphanumeric 

Questions 

Did you get your current mortgage 

before January 1,2009? 

Y Alphanumeric 

SC HELP Proposal 
Have you received a foreclosure 

notice from an attorney? 

Y Alphanumeric 

Is this property listed for sale? Y 

Is the property listed for sale? If Yes 

then provide 

Agent's name 

Agent's Phone Number 

Agent's Email 

Y Alphanumeric 

Is it leased? Y Alphanumeric 

Is Property Damaged? Y Alphanumeric 

Do you receive, and pay, the Real 

Estate Tax bill on your Home or 

does your lender pay it for you? 

I do with check box 

Lender does with check box 

Y Alphanumeric 

Are the taxes current? Y Alphanumeric 

Do you pay for a hazard insurance 

policy? 

Y Alphanumeric 

Is the policy current? Y Alphanumeric 

Have you filed for bankruptcy? 

Yes/No 

Y Alphanumeric 

What is the Bankruptcy chapter ? 

Chapter 7 

Chapter 13 

Y Alphanumeric 

What is bankruptcy filed Date? Y Alphanumeric 

"I believe that my situation is 

Short term (under 6 months) 

Long term (over 6 months) 

Permanent" 

Y Alphanumeric 

I want to: 

Keep the Property [check box] 

Sell the Property [check box] 

Y Alphanumeric 

Have you received a foreclosure 

notice from an attorney? 

Y Alphanumeric 

Is foreclosure sale scheduled ? Y Alphanumeric 

What is foreclosure sale schedule 

date ? 

Y Alphanumeric 

This property is 

Owner Occupied 

Renter Occupied 

Vacant 

Y Alphanumeric 

Have you received an offer on the 

property? 

Yes/No 

If Yes then 

Date of Offer 

Amount of Offer$ 

Y Alphanumeric 

SC HELP Proposal 
Condominium or HOA Fee 

Yes/No 

$__ 

Paid to:____

Y Alphanumeric 

Who Pays the hazard insurance 

policy for your property? 

I do 

Lender does 

Paid by Condo or HOA

Y Alphanumeric 

Is the policy current? 

Yes/No 

Name of Insurance Co. 

Insurance Co. Tel# 

Y Alphanumeric 

b. Allocation Methodology 

Virtually every county in South Carolina is facing unprecedented levels of both 

foreclosures and unemployment, meaning that no segment of the population has been left 

untouched by the recent financial crises. In reviewing data on foreclosures and 

unemployment, the Authority must consider the numbers of impacted citizens on both a 

percentage and absolute basis. Put another way, there are counties where the 

unemployment levels are well above 15%, but the absolute number of potentially 

exposed homeowners is very low. At the same time, due to population distribution, there 

are counties with unemployment under 12% that have potentially exposed homeowners 

numbering well over 5,000 per county. 

This conflict between the relative and absolute numbers makes a county-by-county 

allocation largely immaterial. Instead, the Authority is proposing to allocate funds by 

program, and then adjust assistance caps based on county-level unemployment rates. 

More detailed information regarding the allocations by program is provided in the 

program term sheets. 

c. Timelines for Implementation 

All Foreclosure Mitigation programs will be implemented simultaneously, based on a 

common infrastructure and timeline. This timeline is outlined as follows: 

SC HELP Proposal 
Major Milestones – Pre-HFA Participation Agreement Execution 

Estimated Date Milestone/Activity 

June 1, 2010 Proposal submitted to Treasury 

July 31, 2010 SCHC staff positions filled 

July 31, 2010 Request of Qualifications (RFQ) for Foreclosure Mitigation 

Specialists (FMS) posted for submissions 

RFQ for Data Services Provider posted for submissions 

RFQ for Intake Management Provider posted for submissions 

July 15, 2010 SCHC incorporation process completed 

August 15, 2010 RFQ for underwriters posted for submissions 

RFQ for Closing Document Services posted for submissions 

RFQ for Closing Attorneys posted for submissions 

August 31, 2010 Proposal details finalized with Treasury – HFA Participation 

Agreement issued. 

Marketing campaign design completed 

Participation Agreement(s) for Foreclosure Mitigation 

Specialists issued 

Participation Agreement for Data Services provider issued 

Participation Agreement for Intake Management provider 

issued 

September 15, 2010 Participation Agreement(s) for Underwriters issued 

Participation Agreement(s) for Closing Document Services 

issued 

Participation Agreement(s) for Closing Attorneys issued 

Major Milestones – Post-HFA Participation Agreement Execution 

Relative Date Milestone/Activity 

Day 0 HFA Participation Agreement executed 

+45 FMS Participation Agreement(s) executed 

Data Services Provider Participation Agreement executed 

Intake Management Participation Agreement executed 

+60 Training begins for FMS providers 

Participation Agreement(s) for Underwriters executed 

Participation Agreement(s) for Closing Document Services 

executed 

Participation Agreement(s) for Closing Attorneys executed 

Training Begins for Intake Management provider 

+75 Training begins for Underwriters 

+90 Technology tests conducted 

+110 All training efforts completed 

+120 Marketing campaign begun – Applications accepted. 

Note: Post-Agreement completion dates may be adjusted based on actual Agreement 

execution date.

SC HELP Proposal 
Capacity to Implement 

As has been noted numerous times, the Authority, using SCHC as the contracting vehicle, 

intends to use partnerships to leverage the existing capabilities of other organizations for 

many key components of SC HELP. However, even with those partnerships, the 

Authority is ultimately responsible for SC HELP and ensuring its operation within 

guidelines as established by Treasury. The Authority is perfectly situated for this 

purpose. 

As the State’s housing finance and development authority, the Authority has a decadeslong history of providing financing for affordable housing and for managing programs 

that are key to the development and retention of affordable housing in South Carolina. 

Much like with this proposal, many of the Authority’s goals are accomplished in 

cooperation with other organizations including for-profits, non-profits, and governmental 

entities. Partnership activities include: 

• Providing mortgage loan financing and down payment assistance through 

participating lenders and mortgage brokers; 

• Providing funding to non-profit organizations to rehabilitate owner-occupied 

single family homes; 

• Working with larger, multi-family developers through the Low Income Housing 

Tax Credit Program; 

• Providing training to lenders, Realtors, and loan counselors to insure that citizens 

of the State have access to the Authority’s programs; 

• Financing the acquisition, construction, and rehabilitation of affordable rental 

units through both for-profit and non-profit developers; 

• Coordinating and managing the efforts of all sub-recipients in the Neighborhood 

Stabilization program; 

• Working with property owners in seven counties as the administrator for the 

Section 8 Housing Choice Voucher program. 

• Administering funds through the National Foreclosure Mitigation Counseling 

(“NFMC”) program. The NFMC program was awarded through a competitive 

application process by NeighborWorks® America, within guidelines defined by 

federal legislation. In the last round of funding, the Authority was awarded 

$1,968,818.00, the fourth highest amount among HFAs in the nation. 

• Administering consumer counseling and education efforts as required by the 

South Carolina High Cost and Consumer Home Loan Act. The Authority 

certified over 70 counselors and maintains activity records and invoices from each 

counselor that are submitted on a quarterly basis. The counselors also participate 

in semi-annual trainings each year. 

SC HELP Proposal 
In addition to these “partnership” programs, the Authority also participates in the 

following activities: 

• Actively services a portfolio of approximately 16,000 first and subordinate 

mortgage loans; 

• Under a contractual relationship with HUD, acts as the Administrator for HUD’s 

portfolio of subsidized rental units in South Carolina; 

• The Authority is also one of the leading tax-exempt bond issuers in South 

Carolina, issuing bonds for both single and multi-family housing. 

Key Program Staff 

As stated earlier, there are several key Authority staff members who are heavily involved 

in the creation and implementation of SC HELP, and some who are dedicated fully to the 

program and are “on loan” to SCHC for the duration of the program. The staff involved 

is represented in the attached chart, with more detailed information below. 

SC HELP Proposal 
Valarie M. Williams, Executive Director, joined the Authority on May 4, 1992, began 

serving as Acting Executive Director on May 1, 2007, and was appointed Executive 

Director on December 11, 2007. In her previous position as Deputy Director for 

Programs, she provided managerial oversight for the program areas of the Authority. 

Prior to joining the Authority, Ms. Williams worked for the Governor's Office, Division 

of Economic Opportunity with the Community Services Block Grant and Emergency 

Shelter Programs. Ms. Williams holds a Bachelor of Science degree in Economics from 

the University of South Carolina and a Master of Arts degree in Business Management 

from Webster University. With regard to SC HELP, Ms. Williams will continue to 

provide overall guidance and insure that staff is executing against the proposal and 

implementation schedules. 

Edwin R. Knight, Deputy Director for Administration, joined the Authority in May 1984. 

Mr. Knight has worked in most of the Authority's programs during his tenure at the 

Authority. In his current capacity with the Authority, he is responsible for Information 

Technology, Procurement, Public Information, Mortgage Production, Mortgage Servicing 

and Special Projects. Mr. Knight holds a BA degree in History from the University of 

South Carolina. Mr. Knight will have direct oversight of all SC HELP staff. 

Tracey C. Easton, General Counsel, is responsible for supervising the legal aspects of the 

Authority's programs. She joined the Authority on September 7, 2004. Prior to joining 

the Authority, she was engaged in the general practice of law and was employed by the 

South Carolina Office of the Attorney General. Ms. Easton received a BA in History and 

Political Science from Newberry College and a JD from the University of South Carolina 

School of Law. Ms. Easton will provide ongoing legal support and guidance for SC 

HELP, and will provide oversight for all external legal services.

Richard Hutto, CPA, Director of Finance. Since joining the Authority in 1986, Mr. Hutto 

has, among other duties, held positions as the Chief Multifamily Underwriter and as the 

Director of Contract Administration. Mr. Hutto is a Certified Public Accountant and is a 

member of the Governmental Finance Officers Association of South Carolina and the 

South Carolina Association of Certified Public Accountants. Mr. Hutto obtained his 

Bachelor of Science degree from the University of South Carolina. Mr. Hutto will 

manage all facets of funds disbursement and administrative cost tracking and reporting 

for SC HELP. 

Wayne Sams, CPA, Director of Internal Audit. Mr. Sams was previously employed as an 

audit manager for the South Carolina State Auditor’s Office where he was primarily 

responsible for the Statewide Single Audit of federal programs. Mr. Sams is a Certified 

Public Accountant and is an instructor for the Government Finance Officers Association 

of South Carolina. Mr. Sams obtained his Bachelor of Science degree from Florida State 

University. Mr. Sams will provide ongoing assistance in the creation and operation of all 

compliance monitoring and fraud prevention processes within SC HELP. 

SC HELP Proposal 
Matt Rivers, Director of SC HELP, is responsible for the design, implementation, and 

day-to-day management of all SC HELP functions. Since joining the Authority in 2002, 

Mr. Rivers has held a variety of positions including Director of the SC State Housing 

Trust Fund, Director of Planning & Communications, and Director of Homeownership. 

Prior to joining the Authority, Mr. Rivers worked as an executive for several nationwide 

banks in the mortgage production, technology, and servicing areas. Mr. Rivers obtained 

his Bachelor of Science degree in Finance from the University of South Carolina. 

Lisa A. Bussey, Business Development Manager, joined the Authority in 2006. She has 

worked as a Special Projects Coordinator and Marketing and Events Manager in the 

Authority’s Marketing and Communications Department and began her current position 

with the Authority’s SC Homeownership and Employment Lending Program (SC HELP) 

in May 2010. She has over 12 years of experience working in state government and the 

SC State Legislature. Ms. Bussey holds a Bachelor of Arts Degree in Political Science 

and a Master of Public Administration Degree from the University of South Carolina. 

Ms. Bussey will be responsible for recruiting, training and monitoring all Foreclosure 

Mitigation Specialists working with SC HELP, as well as all marketing and outreach 

efforts. 

Claude Spurlock, Director of Mortgage Production, joined the Authority on February 1, 

2005. Mr. Spurlock has over 28 years of mortgage banking experience. His career has 

included a full range of mortgage lending operations, originations and servicing 

experience with companies such as Standard Federal Saving Bank, Fleet Mortgage and 

AgFirst Farm Credit Bank. In his current capacity with the Authority, he is responsible 

for Mortgage Production, New Product Development, Underwriting and Post Closing 

Operations. Mr. Spurlock holds a Bachelor of Science degree in Business Administration 

- Accounting from the University of South Carolina. Mr. Spurlock will work closely 

with SC HELP in designing and implementing all credit underwriting standards. 

Lisa E. Rivers, Director of Mortgage Servicing, joined the Authority in 1987. Since 

joining the Authority, she has served in many capacities throughout the Homeownership 

area including Quality Control Officer, Director of Loan Administration and Director of 

Homeownership. Ms. Rivers’ current responsibilities include the management and 

oversight for all aspects of residential mortgage loan servicing. Ms. Rivers will provide 

ongoing support and guidance to SC HELP with respect to loss mitigation and 

foreclosure prevention. She and her staff will also be responsible for servicing all loans 

originated by SC HELP. 

Kimberly G. Spires, Director of Investor Services, joined the Authority in December 

1993. Ms. Spires was previously employed with the South Carolina State Budget and 

Control Board's Division of Insurance Services. Since joining the Authority, she has 

worked in all areas of the Single- Family Division. Her current responsibilities include 

managing the quality control process in order to ensure compliance with federal and 

private insurer regulations and compliance with the restrictions of the indentures and 

resolutions as they pertain to the production and servicing of single-family mortgages. 

SC HELP Proposal
She also manages the Real Estate Owned department where Authority owned properties 

are maintained and marketed efficiently in an effort to limit the Authority’s losses. 

 

Mark Phipps, Director of Information Technology, joined the Authority in 2007. Mr. 

Phipps has over 20 years of IT experience in Software Development, Project 

Management and IT Management, primarily in the Textile, Automotive and Medical 

Device Industries. He has a Bachelor of Science degree in Computer Science and a 

Master’s Degree in Business Administration, both from the University of North Carolina 

– Charlotte. Mr. Phipps will provide both implementation and operational information 

technology support to SC HELP and SCHC. 

Clayton Ingram, Director of Marketing & Communications, joined the Authority in 2008. 

In this role, Mr. Ingram oversees the agency’s internal and external communications, 

legislative affairs, and educational initiatives. Mr. Ingram previously served on the 

executive staff of the South Carolina Department of Insurance Other state service 

includes South Carolina's State Budget and Control Board in the State's Office of 

Insurance Services. Mr. Ingram has a Bachelor's Degree in Journalism and a Masters in 

Public Administration, both from the University of South Carolina. Mr. Ingram will 

provide start-up and ongoing support to SC HELP in marketing and press relations. 

Key Partners 

Partnerships and contractual services will play a critical role in the success of SC HELP. 

Although no contracts have been executed pending approval of this proposal, discussions 

are underway with a number of organizations to fulfill key roles in the process. These are 

described generically as follows: 

Intake Phone Support 

A contract will be issued for one organization to provide real-time phone and web 

support to homeowners accessing SC HELP. This will provide homeowners the ability to 

be quickly registered into the process and have their pertinent data transferred to a 

Foreclosure Mitigation Specialist for one-on-one follow-up regarding SC HELP and 

other applicable TARP-funded options. 

Foreclosure Mitigation Specialists 

A Request for Qualifications (RFQ) process will be used to identify organizations with 

the desire and ability to participate in the program. Responsibilities, in regard to SC 

HELP and other TARP-funded programs, will include accepting and processing 

homeowner applications, assisting the homeowner in navigating the process, acting as the 

primary contact point between SCHC and the homeowner, and providing follow-up 

monitoring with homeowners who are actively receiving assistance. 

SC HELP Proposal 
Contract Underwriters 

A RFQ process will be used to identify organizations and/or individuals with the desire 

and ability to provide off-site credit underwriting for all SC HELP applications. 

Responsibilities will include reviewing all documentation for applicability to SC HELP 

programs, gauging credit risk, and making final funding and approval decisions. 

Loan Document Preparation/Post Closing Services 

A contract will be issued for one organization to provide ongoing document preparation 

services for all loans made under SC HELP. Responsibilities will include preparing the 

note and mortgage, along with all required disclosure documents, and insuring that the 

closing attorney(s) receive the documents. After closing, the organization will be 

responsible for receiving the executed documents, following up with closing attorneys for 

any missing items, and then scanning the final documents in to a central storage 

repository. 

Closing Attorneys 

SC law requires that mortgages must be closed by licensed attorneys. A RFQ process 

will be used to identify law firms and/or individual attorneys with the desire and ability to 

provide loan closing services. 

Data Services 

A contract will be issued for one organization to provide real-time access to a webenabled platform that is capable of capturing all required household data elements, as 

well as scanned versions of related documentation. 

Section III. 

Reporting 

For reporting purposes, data will be collected on three separate systems: a borrower-level 

transactional system as provided by the Data Services provider, and a financial reporting 

and transactional system as provided by existing Authority infrastructure, and a loan 

servicing platform as provided by existing Authority infrastructure. The borrower-level 

and financial transactional systems will be integrated for purposes of requesting and 

processing programmatic and administrative disbursements. 

 

Reporting for SC HELP will be broken down into three distinct categories: Operational 

Reporting, Financial Reporting, and Performance Reporting. 

Operational Reporting 

Using the data provided by the Data Services provider, tracking will be put in place that 

monitors key timelines and other elements that are critical in processing homeowner 

applications and requests. The purpose of this reporting is to ensure that all processes are 

operating in an efficient and customer service-oriented manner. Data will be reported 

and monitored on a weekly basis so that any operational deficiencies can be identified 

and resolved quickly. 

SC HELP Proposal 
Transaction-level data will be reported on a monthly basis to ensure that all Foreclosure 

Mitigation Specialists and Underwriters are consistent in their decisions and processes 

across multiple organizations. 

Financial Reporting 

Expenditures, both programmatic and administrative, will be aggregated and reported on 

a monthly, quarterly, and fiscal-year basis to ensure that all budgets are being adhered to. 

Any variances will be explained and addressed operationally, and budget adjustments 

requested and negotiated as required. 

Performance Reporting 

Key elements from the Operational and Financial Reporting processes will be integrated 

on a monthly, quarterly, and fiscal-year basis to measure actual performance against 

performance targets for households served and disbursements made by program, 

timeliness of service, administrative disbursements, and budget management. Reporting 

will be provided to Treasury and Bank of NY as prescribed by Treasury. 

Compliance Monitoring and Risk Management 

Compliance Monitoring and Risk Management will be monitored from both a macro and 

micro level. At the macro level, the Authority will insure that all proposed uses of funds 

are EESA-eligible prior to implementation, that all necessary records and 

communications regarding the program are captured and stored for possible review, and 

that proper operational controls are in place to identify and mitigate known risks. The 

systems used to capture this information will be reviewed and tested by the Authority’s 

Internal Audit and Legal Divisions prior to implementation, and every six months after 

implementation. External reviews will be conducted as warranted and required by 

Treasury. 

From a micro, or transactional perspective, active transactions will be monitored for 

compliance, efficiency, and fraud on an ongoing basis using an acceptable sampling 

model. This will allow the Authority and SCHC to constantly monitor all phases of the 

various processes as well as the third-party service providers. In addition to the ongoing 

monitoring, specific policies regarding conflicts of interest and fraud will be included in 

all agreements executed by the Authority or SCHC. 

Budget and Administrative Expenses 

Please see detailed budgets on following pages. 

Appendix – Exhibits 

NONE 

SC HELP Proposal 
Program Activity Allocations

 ESTIMATED 

Program 

Average $ per 

Household Households Served Allocation 

 Monthly Payment Assistance $15,000 5,320 $79,800,000

 Direct Loan Assistance $5,000 2,342 $11,710,000

 HAMP Assistance $4,000 1,250 $5,000,000

 Second Mortgage Assistance $6,000 1,667 $10,002,000

 Property Disposition Assistance $4,000 1,625 $6,500,000

 Counseling (Non-Program Assistance) 15,000 Included in Admin 

 TOTAL 27,204 $113,012,000

SC HELP Proposal Page 52 of 52