Loan Guarantees for Native Hawaiian Housing

To provide eligible Native Hawaiian families with greater access to private mortgage resources by guaranteeing loans for one-to four family housing located on Hawaiian Home Lands.



Agency - Department of Housing and Urban Development

The Department of Housing and Urban Development's mission is to increase homeownership, support community development and increase access to affordable housing free from discrimination. HUD fulfills this mission through high ethical standards, management and accountability, and by forming partnerships with community organizations.




Program Accomplishments

Fiscal Year 2016: The program guaranteed 64 loans. Fiscal Year 2017: The program projects to guarantee 55 loans. Fiscal Year 2018: The program projects to guarantee 55 loans.

Uses and Use Restrictions

A loan guaranteed under this part may only be used to construct, acquire, or rehabilitate eligible housing.

The housing must be located on Hawaiian Home Lands for which a housing plan has been determined by HUD to be in compliance with regulations.

Eligibility Requirements

Applicant Eligibility

A Native Hawaiian family; the Department of Hawaiian Home Lands; the Office of Hawaiian Affairs; a private nonprofit organization experienced in the planning and development of affordable housing for Native Hawaiians.

Beneficiary Eligibility

Native Hawaiian homeowners are the beneficiaries of the program.

Credentials/Documentation

Individual Loan Applicants must meet the definitions of Native Hawaiian and provide the eligible lender with documentation of that eligibility, assets, income, debts and liabilities to show ability to obtain and repay the loan. This program is excluded from coverage under 2 CFR 200, Subpart E - Cost Principles.

Aplication and Award Process

Preapplication Coordination

Preapplication coordination is not applicable.

Environmental impact information is not required for this program.

This program is excluded from coverage under E.O.

12372.

Application Procedures

This program is excluded from coverage under 2 CFR 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Applications are submitted to eligible financial institutions. With the loan application, the homebuyer submits documentation such as pay stubs, W-2 forms, tax returns, evidence of assets such as bank accounts, and any other documentation requested by the lender to support the applicant's ability to obtain and repay the mortgage. The lender will verify the eligibility of the land status.

Award Procedures

The financial institution obtains and reviews all documentation and submits it to HUD. HUD is responsible for ensuring the individual applicants Native Hawaiian eligibility, land status per Section 204 of the Hawaiian Homes Commission Act, housing acceptability, and the creditworthiness of the applicant. HUD has responsibility for the approval or disapproval of the applicant and the issuance of the loan guarantee. If the loan guarantee funds are available, a firm commitment is issued to the lender. Firm commitments are valid for a period not to exceed 90 days from issuance.

Deadlines

Not Applicable.

Authorization

American Homeownership and Economic Opportunity Act of 2000, Consolidated Appropriations Act of 2017, Section 514, Public Law 113-235.

Range of Approval/Disapproval Time

From 15 to 30 days. HUD may approve a loan for guarantee under this part and issue a certificate under this section only if HUD determines that there is a reasonable prospect of repayment of the loan.

Appeals

From 15 to 30 days. Applicants whose loans are disapproved may appeal the disapproval. Additional documentation to resolve the issues which led to the disapproval may be required.

Renewals

Not Applicable.

Assistance Considerations

Formula and Matching Requirements

Statutory formulas are not applicable to this program. This program has no matching requirements. MOE requirements are not applicable to this program.

Length and Time Phasing of Assistance

The loan term shall not exceed thirty years. Processing time of the individual loans will depend on the quality of the lenders submittal and HUD's ability to ascertain proper land and lease status. See the following for information on how assistance is awarded/released: This is a loan guarantee program. Therefore assistance is given in the form of a guarantee. No funds are awarded or released unless there is a default on a guaranteed loan.

Post Assistance Requirements

Reports

Lenders will be required to report loan delinquencies on a monthly basis.

Cash reports are not applicable.

No progress reports are required.

Expenditure reports are not applicable.

Performance monitoring is not applicable.

Audits

In accordance with the provisions of 2 CFR 200, Subpart F - Audit Requirements, non-Federal entities that expend financial assistance of $750,000 or more in Federal awards will have a single or a program-specific audit conducted for that year. Non-Federal entities that expend less than $750,000 a year in Federal awards are exempt from Federal audit requirements for that year, except as noted in 2 CFR 200.503. Participating lenders will be subject to review and closed loan files are subject to review to assure compliance with the requirements of Section 184A.

Records

Copies of loan files will be maintained by HUD. The originating lender must maintain copies of the guaranteed loan file for two years after loan closing. The servicing lender must maintain the loan file for the life of the loan plus three years.

Financial Information

Account Identification

86-0233-0-1-371.

Obigations

(Guaranteed/Insured Loans) FY 16 $82,000; FY 17 est $0; and FY 18 est $0

Range and Average of Financial Assistance

The average loan amount in FY 2012 was $227,882.

Regulations, Guidelines, and Literature

24 CFR Part 1007.

Information Contacts

Regional or Local Office

None.

Headquarters Office

Thomas C. Wright, 451 7th Street, S.W., Room 5156, Washington, District of Columbia 20410 Email: Thomas.C.Wright@hud.gov Phone: (202) 402-4978.

Criteria for Selecting Proposals

Not Applicable.



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