The Homeowner Assistance Fund was established to mitigate financial hardships associated with the COVID-19 pandemic by providing funds to eligible entities.
These funds prevented homeowners from mortgage delinquencies, helped limit defaults, assisted in limiting foreclosures, and stopped the loss of utility services while keeping homeowners from experiencing financial hardships.
With the establishment of this program, many Housing Finance Agencies started looking for ways to administer a total of $9.961 Billion to their communities, subject to guidance from the Treasury Department.
Neighborly Software’s “best practice” Homeowner Assistance Fund solution addresses Treasury’s requirements and can be 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 300+ “Neighbors” that utilize our software to administer over 20 housing, economic, and community development programs. Our industry knowledge provides our Neighbors with best practices that are proven to drive operational efficiencies, improve program compliance, and maximize community investment outcomes.
An all-in-one solution 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 in 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 our mission – in fact, it’s the only market we serve. As such, our Neighbors get a committed partner that is focused on making their HAF program a success. CLICK HERE to learn more.