將數據轉化為行動：來自 Heritage One 計劃的研究見解.pdf

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1、Prepared by Single-Family Division Freddie MacFinancing Native Homeownership with HeritageOnePrepared by Single-Family Division Freddie Mac2IntroductionsKimberley CarrAffordable Lending Manager,Single-Family Market Lead:Rural HousingKimberley_CarrFreddieMDennis SmithAffordable Lending Senior Manager

2、,Single-Family Market Lead:Manufactured Housing and Affordable Housing PreservationDennis_SmithFreddieMPrepared by Single-Family Division Freddie Mac Freddie MacTopics1.What is HeritageOne?2.Product Requirements?3.Where Can I Learn More?Prepared by Single-Family Division Freddie MacWhat Is HeritageO

3、ne?HeritageOne is a conventional financing solution,designed to help enrolled members of federally recognized Native American tribes living in tribal areas attain and sustain affordable homeownership.Prepared by Single-Family Division Freddie Mac5Key Borrower BenefitsGain more home financing options

4、Attain homeownership with a conventional mortgage solutionMake a down payment as low as 3%,5%for manufactured homes Use funds from various sources for the down payment,reserves and closing costsReceive a credit to offset appraisal costsFor first-time homebuyers,take advantage of homeownership educat

5、ion programsPrepared by Single-Family Division Freddie MacFinancing Native Homeownership with HeritageOne6How Can HeritageOne Be Used?FactorRequirementBorrower incomeNo maximum income limitLoan typeFixed ratePurchase,no cash-out refinanceConstruction and renovation transactionsNo second homes,invest

6、ment properties,or cooperative unitsLoan-to-Value RatioUp to 97%for mortgages secured by a 1-unit property,including CHOICEHomeUp to 95%LTV for mortgages secured by a 2-to 4-unit property or a manufactured homeOccupancyAt least 1 borrower must occupy as primary residenceNon-occupying co-borrower all

7、owedProperty ownershipBorrower may own up to 2 financed properties including subject propertyUnderwritingLoan Product Advisor Accept May be manually underwritten Prepared by Single-Family Division Freddie Mac7Borrower ContributionsDown payment,closing costs,reserves(for a 1-unit home,including a man

8、ufactured home)No minimum borrower contributions from personal funds required No reserves required(unless they may offset other underwriting factors)Flexible sources of funds accepted and may come from multiple sourcesPrepared by Single-Family Division Freddie Mac8HeritageOne Eligibility Tribes and

9、BorrowersListed as a participating tribe in HUDs latest Section 184 Participating Tribes ListorEnter into a memorandum of understanding with Freddie MacEnrolled member of a Native American tribeOccupies the mortgaged premises as their primary residenceEligible TribeEligible BorrowerPrepared by Singl

10、e-Family Division Freddie Mac9Homebuyer EducationAt least one borrower must complete a homebuyer education program when all occupying borrowers are first-time buyersMay be provided a Native CDFI,even if it is the originating lender and/or the seller At least one qualifying borrower must either:Compl

11、ete a landlord education program orHave at least one year of previous landlord experience HomebuyerLandlord(2-4 units)Prepared by Single-Family Division Freddie Mac10HeritageOne Participation Land&Property TypesEligible Land TypesTribal trust landsAllotted trust landsFee-simple landsEligible Propert

12、y Types1-to 4 unit primary residenceManufactured home including CHOICEHomeCondominium unitUnit in a planned unit development(PUD)Property with an accessory dwelling unit(ADU)Property EligibilityThe mortgaged premises must be located in an eligible tribal area11The mortgaged premises must be located

13、in an eligible tribal area.What we consider tribal area is a census tract,or any portion thereof,that is designated as both a HUD Indian Housing Block Grant(IHBG)Area and a rural area under FHFAs Duty to Serve Regulation and is identified as an“Indian area”in the current version of FHFAs Indian Area

14、s FilePrepared by Single-Family Division Freddie Mac11Manufactured Home Eligibility for HeritageOneMust be in a state that permits surrender of a certificate of titleMust be classified as real property under applicable state lawMust be a 1-unit one-unit dwelling comprised of multiple sections(a“mult

15、i-wide manufactured home”)Wheels,axles and towing hitch must be removedAny structural modifications must be approved by a licensed professional engineer or the local,state or federal authorityCannot include an ADUManufactured home property eligibilityPrepared by Single-Family Division Freddie Mac12P

16、repared by Single-Family Division Freddie Mac13Eligible Basic Energy-efficiency ImprovementsPrepared by Single-Family Division Freddie Mac14Register for the Appraisal Institute Curriculum for Appraising Homes on Tribal Lands https:/www.appraisalinstitute.org/education/search Prepared by Single-Famil

17、y Division Freddie MacDocument Title&Date 15HeritageOne Servicing:Two OptionsThe lender retains servicing of HeritageOne mortgages with Freddie Macs explicit approvalThe lender transfers servicing of HeritageOne mortgages to a Freddie Mac-designated servicerServicing ReleasedServicing RetainedorPrep

18、ared by Single-Family Division Freddie Mac16HeritageOne Servicing:If Foreclosure Is UnavoidableThe servicer must complete all required communications and notificationsForeclosure processing may proceed in the court that has jurisdiction,which may include tribal courtThe tribe has right of first refu

19、salPrepared by Single-Family Division Freddie MacWhere Can I Learn More?Prepared by Single-Family Division Freddie Mac18Next Steps Toward Offering HeritageOneIf youre an approved Freddie Mac seller/serviceroObtain Freddie Macs term of business and approval,starting with the HeritageOne Seller Eligib

20、ility Application:https:/ the HeritageOne Mortgage tutorial at Freddie Mac Learning:https:/ oContact your Freddie Mac representative or the Customer Support Contact Center at(800-FREDDIE)If youre not an approved Freddie Mac seller/serviceroTo start the process,go to https:/ oSell loans through an ag

21、gregator as a third-party originator;if youre not already a registered TPO,call the Customer Support Contact Center at(800-FREDDIE)Prepared by Single-Family Division Freddie Mac19Offer HeritageOne to Your Borrowers1.Obtain Freddie Macs term of business and approval,starting with the HeritageOne Sell

22、er Eligibility Application:https:/ the HeritageOne Mortgage tutorial at Freddie Mac Learning:https:/ 3.For more information,contact:oYour Freddie Mac representativeoCustomer Support Contact Center(800-FREDDIE)oKim Carr at Kimberley_CarrFreddieM Freddie Mac-approved lenderPrepared by Single-Family Di

23、vision Freddie Mac20Housing Counselor Resource CenterHeritageOne WebpageExplore Freddie Macs On-line ResourcesNative American Homeownership PreparednessCreditSmart Homebuyer UHeritageOne Guide Bulletin: by Single-Family Division Freddie Mac21Prepared by Single-Family Division Freddie Mac22Together,We Help Make Homeownership Possible for More Native American Households Living in Tribal Areas