The Homeowner Assistance Fund was established to mitigate financial hardships associated with the coronavirus pandemic by providing funds to eligible entities.
These funds prevented homeowners from mortgage delinquencies, helped limit defaults, assisted in limiting foreclosures, stopped the loss of utilities services while keeping homeowners from experiencing financial hardships.
With the establishment of this assistance funding, many Housing Finance Agencies started looking for ways to administer a total of $9.961 billion to their communities, subject to the guidance from the Treasury Department that were made available through the HAF Program.
To assist in these efforts, Neighborly Software is using our “best practice” Homeowner Assistance Fund (HAF Program) solution to address all of the Treasury requirements. Further, our solution can be both launched and operational in as few as seven days.
The Neighborly Homeowner Assistance Fund Software Solution Features:
- Intuitive online application that supports 3 delivery models:
- Consumer Driven: Homeowners apply directly online
- Mortgage Servicer Driven: Servicer initiates applications on behalf of homeowners (bulk upload)
- Counselor Driven: Housing Counseling Agencies assist homeowners through the application process
- Options for 60 different languages
- Meets Level AA accessibility requirements
- Backend case management that includes reviewer checklists, processing workflows, and email templates
- Standard Treasury reports and ad-hoc reporting
- Customized payment files for check or ACH distribution
- Audit log that tracks all system activity
Leverage best practices that provide an efficient and compliant HAF program:
Neighborly Software has 250+ “Neighbors” that utilize our software to administer over 20 housing, economic, and community development programs, including the HAF. Our industry knowledge provides our Neighbors with best practices that are proven to drive operational efficiencies, improve program compliance, and maximize community investment outcomes.
A one-stop-shop for all HAF enrollment, administration, and reporting activities.
Cloud-based software hosted in Microsoft’s FedRAMP data center with SSL encryption, geo-replication and point in time data backup.
The software can be configured and operational to accept applications within 7 days.
Pricing is based on the HAF grant amount awarded, and can be paid for with HAF administrative funds.
Neighborly Software is the market leader in rental and mortgage assistance software. Housing, economic, and community development are core to the Neighborly Software mission – in fact, it is the only market we serve. As such, our Neighbors get a committed partner that is focused on making the HAF solution a success. CLICK HERE to connect with a team member today to learn how we can assist you with your HAF program.