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PA Bulletin, Doc. No. 20-1427

NOTICES

HOUSING FINANCE AGENCY

Pandemic Mortgage Assistance Program Guidelines

[50 Pa.B. 5819]
[Saturday, October 17, 2020]

 The Housing Finance Agency (Agency) hereby provides notice of the Pandemic Mortgage Assistance Program (Program). The Program was established under the Federal Coronavirus Aid, Relief, and Economic Security Act (Pub.L. No. 116-136) (act). The act establishes the Program to be administered by the Agency for the purpose of providing emergency mortgage assistance on behalf of homeowners who are delinquent in their mortgage payments and who have experienced job loss or reduced income as a result of the novel coronavirus (COVID-19) pandemic. Assistance shall be made available in the form of a grant and funds will be paid directly to lenders. The provision of assistance shall, at all times, remain subject to the availability of funding.

 This notice changes the eligibility criteria, as well as the application submission and evaluation process first published at 50 Pa.B. 3352 (July 4, 2020) and amended at 50 Pa.B. 4824 (September 19, 2020). This notice removes language referencing execution of releases by lenders regarding releasing remaining loan balances for months when the Agency pays the landlord rental assistance. In addition, this notice identifies the timelines applicable to application submission and funding disbursement. Applications are available on the Agency's web site at www.phfa.org. The Agency will accept Program applications beginning July 6, 2020, until November 4, 2020, in accordance with the Executive Order ''Staying the Application Deadline under the COVID Relief-Mortgage and Rental Assistance Grant Program'' issued by Governor Tom Wolf on October 5, 2020.

 The guidance contained herein amends and supersedes the previously published CARES Program Guidelines initially published at 50 Pa.B. 3352 and first amended at 50 Pa.B. 4824, as set forth as follows. The reminder of the CARES Program Guidelines published on July 4, 2020, and amended on September 19, 2020, not amended in this notice remain in full force and effect.

 Section 3, Limitation on Assistance, Paragraph (d)(2) of the existing Program Guidelines is amended to read as follows:

 (2) Applicants may be eligible for assistance when the monthly mortgage payment exceeds $1,000; however, the Program may only provide up to the maximum amount of assistance of $1,000 per month, per mortgage.

 Section 5, Application and Review Process, Paragraph (a)(2)(ii) of the existing Program Guidelines is amended to read as follows:

 (ii) Lender attestation and certification. In addition to certifying that the information provided in the application is accurate, any lender that applies for or receives the Program on behalf of any homeowner must agree to apply the Program funds to mortgage payments only and for the designated period, as approved by the Agency.

 Section 7, Acknowledgement, Paragraph (b) of the existing Program Guidelines is amended to read as follows:

 (b) Lender acknowledgment. Lenders that have agreed to accept Program assistance will receive an acknowledgment with the Program payment indicating that processing of the check indicates the lender's agreement to apply the Program funds to mortgage payments only and for the designated period indicated on the itemization provided with the check.

ROBIN L. WIESSMANN, 
Executive Director

[Pa.B. Doc. No. 20-1427. Filed for public inspection October 16, 2020, 9:00 a.m.]


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