Borrower Eligibility Criteria Sample Clauses

Borrower Eligibility Criteria. Homeowner qualifies as low-to-moderate income based on per- household income thresholds set forth in the county in which the homeowner resides. Income thresholds are as posted on the Keep Your Home California website. • Homeowner must complete and sign a Hardship Affidavit / 3rd Party Authorization to document the reason for the hardship. • Homeowners who have recently encountered a financial hardship due to underemployment or unemployment, including those whose unemployment hardship is related to their military service. • Homeowner’s total monthly first-lien mortgage payment PITI (principal, interest, taxes, and insurance, as applicable) and escrowed homeowner’s association dues or assessments must exceed 31 percent of the homeowner’s gross monthly household income, excluding temporary income (e.g., unemployment or short-term disability benefits). • Homeowner must agree to provide all necessary documentation to satisfy program guidelines within the timeframes established by CalHFA MAC. • Homeowner must be currently receiving California Employment Development Department unemployment benefits, and includes homeowners whose unemployment benefits lapsed or expired within 30 days of the request for UMA assistance. • General program eligibility is determined by CalHFA MAC based on information received from the homeowner. Program-specific eligibility is determined by CalHFA MAC on a first-come, first-approved basis until program funds and funding reserves have been exhausted. Loan servicer will implement the HHF program based on participation agreement terms and conditions.
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Borrower Eligibility Criteria. Homeowner must qualify as a low-to-moderate income household, as follows: o Low-to-moderate income of 120% or less of the HCD Area Median Income (as defined by the California State Department of Housing and Community Development), for a family of four, in the county where homeowner resides. o A loan financed in whole or in part by bonds that are tax-exempt under IRC section 143, the homeowner is presumed to satisfy income limits. • Homeowner must complete and sign a Hardship Affidavit / 3rd Party Authorization to document the reason for the hardship. • Homeowners who have recently encountered a financial hardship due to underemployment or unemployment, including those whose financial hardship is related to their military service. • Homeowner’s total monthly first lien mortgage payment PITI+escrowed A (principal, interest, taxes, insurance and escrowed association fees, as applicable) must exceed 31 percent of the homeowner’s gross monthly household income, including unemployment benefits. • Homeowner must agree to provide all necessary documentation to satisfy program guidelines established by CalHFA MAC. • Homeowner must be currently eligible to receive unemployment benefits. • Mortgage loan is delinquent or at risk of imminent default as substantiated by homeowner’s hardship documentation. Loans in foreclosure are not eligible. • General program eligibility is determined by CalHFA MAC, the housing counselor or servicer based on information received from the homeowner. Program-specific eligibility is determined by CalHFA MAC on a first-come/first-approved basis until program funds and funding reserves have been exhausted. Loan servicer will implement the HHF program based on participation agreement terms and conditions. • Funding allocation will be tracked, monitored and performed by CalHFA MAC in a centralized processing operation.
Sample 1
Borrower Eligibility Criteria. Unemployed homeowners and others who, through no fault of their own, are unable to make their mortgage payments and are at risk of a foreclosure. Homeowners will be required to provide a financial hardship affidavit with appropriate documentation on the cause of their hardship. For most homeowners, this will be documentation from the Employment Security Commission (ESC) confirming a job loss and receipt of unemployment benefits. If information from ESC is unavailable, a notarized letter from the former employer indicating job loss was not the fault of the borrower will serve as a substitute. Self-employed borrowers will be required to submit prior tax returns to show a loss of income. Employed homeowners who are delinquent because of a prior job loss or other program eligible hardship but who can resume future payments without additional assistance. Satisfactory mortgage payment history. All principal, interest, taxes, homeowner insurance, mortgage insurance, homeowner association dues, and the cost of utilities >31% of household income after job loss/loss of income. Borrowers must meet program underwriting criteria. Eligibility for program assistance will be determined primarily by participating foreclosure prevention partners. Funds will be allocated on a first come/approved, first served basis.
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Borrower Eligibility Criteria. 4.1. To qualify as a Borrower you, your directors and senior managers must:
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Borrower Eligibility Criteria. If the eligible borrower is unemployed, the borrower must provide proof they applied for unemployment benefits and was approved or denied (UB107, UB100, Claim status report). • If the eligible borrower is underemployed, the borrower must provide documentation of a significant reduction of income due to circumstances outside of their control resulting in a housing payment greater than 31% of their monthly gross income • One or more of the responsible borrowers must be unemployed/underemployed. • Borrowers must participate in quarterly face-to-face continued eligibility validation. • Eligibility requirements for stand alone reinstatement assistance, without continuing monthly assistance, is as follows: 1. Borrower must demonstrate the hardship caused by unemployment or underemployment has passed. For example, one of the borrowers was unemployed and now the same borrower is employed eliminating the hardship. 2. There must be a correlation between the qualified hardship and the delinquency in the mortgage payments. 3. Borrowers must demonstrate that they now have the ability to afford the contractual payments. Affordability is defined as the payment being at or under 31% of documented gross income. 4. Borrowers must have a satisfactory payment history prior to the qualified hardship with no more than 2 payments 30 days or more late in the preceding 12 months of the qualified hardship. • Borrower must occupy the subject property as their primary residence. • All borrowers must sign a hardship affidavit and felony certification. • 120% of AMI maximum household income.
Sample 1
Borrower Eligibility Criteria.  If the eligible borrower is unemployed, the borrower must provide proof they applied for unemployment benefits and was approved or denied (UB107, UB100, Claim status report) for reasons identified as acceptable within the program’s guidelines.  If the eligible borrower is underemployed, the borrower must provide documentation of a significant reduction of income due to circumstances outside of their control resulting in a housing payment greater than 31.99% of their monthly gross income  One or more of the responsible borrowers must be unemployed/underemployed.  Borrowers must participate in quarterly (face-to-face when possible) continued eligibility validation.  Eligibility requirements for stand alone reinstatement assistance, without continuing monthly assistance, is as follows: 1. Borrower must demonstrate the hardship caused by unemployment or underemployment has passed. For example, one of the borrowers was unemployed and now the same borrower is employed eliminating the hardship. 2. There must be a correlation between the qualified hardship and the delinquency in the mortgage payments. 3. Borrowers must demonstrate that they now have the ability to afford the contractual payments. Affordability is defined as the payment being at or under 31.99% of documented gross income.  Borrower must occupy the subject property as their primary residence during the assistance disbursement period.  All borrowers must sign a hardship affidavit and felony certification.  150% of AMI maximum household income.
Sample 1

Related to Borrower Eligibility Criteria

  • Eligibility Criteria (i) Employees covered by this clause will be those who are unable to perform the range of duties to the competence level required within the class of work for which the employee is engaged under this Agreement, because of the effects of a disability on their productive capacity and who meet the impairment criteria for receipt of a Disability Support Pension.

  • Service Eligibility Criteria 4.3.4.1 High capacity EELs must comply with the following service eligibility requirements:

  • Funding Eligibility Contractor understands, acknowledges, and agrees that, pursuant to Chapter 2272 (eff. Sept. 1, 2021, Ch. 2273) of the Texas Government Code, except as exempted under that Chapter, HHSC cannot contract with an abortion provider or an affiliate of an abortion provider. Contractor certifies that it is not ineligible to contract with HHSC under the terms of Chapter 2272 (eff. Sept. 1, 2021, Ch. 2273) of the Texas Government Code.

  • General Criteria a) Approved varieties shall be those varieties recommended by the Department, the Corporation, or those listed in the Atlantic Provinces Field Crop Guide, Publication 100A.

  • Incentive Eligibility Conditions The IPTVO shall be entitled to avail of the Incentives, within the Territory, with effect from the date of execution of this Addendum, subject to the IPTVO meeting each of the following conditions (“Incentive Eligibility Conditions”):

  • Eligibility Changes Employees who become eligible for a full Employer Contribution must make their benefit elections within thirty (30) calendar days of becoming eligible. If employees do not choose a health plan administrator and a primary care clinic and do not waive coverage within this thirty (30) day timeframe, they will be enrolled in a Benefit Level Two clinic (or Level One, if available) that meets established access standards in the health plan with the largest number of Benefit Level One and Two clinics in the county of the employee’s residence at the beginning of the insurance year. If employees who become eligible for a partial Employer Contribution choose to enroll in insurance, they must do so within thirty (30) days of becoming eligible or during open enrollment. An employee may change their health or dental plan if the employee changes to a new permanent work or residence location and the employee's current plan is no longer available. If the employee has family coverage and if the new residence location is outside of the current plan’s service area, the employee shall be permitted to switch to a new plan administrator and new Benefit Level within thirty (30) days of the residence location change. The election change must be due to and correspond with the change in status. An employee who receives notification of a work location change between the end of an open enrollment period and the beginning of the next insurance year, may change their health or dental plan within thirty (30) days of the date of the relocation under the same provisions accorded during the last open enrollment period. An employee or retiree may also change health or dental plans in any other situation in which the Employer is required by the applicable federal or state law to allow a plan change.

  • Criteria (1) Annual Evaluation Criteria. All performance evaluations shall be based upon assigned duties, and shall carefully consider the nature of the assignment in terms, where applicable, of:

  • Member Eligibility Verify Member eligibility contemporaneous with the rendering of services. BCBS will provide systems and/or methods for verification of eligibility and benefit coverage for Members. This is furnished as a service and not as a guarantee of payment;

  • Funding Requirements If Subrecipient receives funds pursuant to this Contract for more than one program, the funds received by Subrecipient for each program shall be expended only for that program, and Subrecipient shall not expend more funds for any program than are set forth in the Attachment C, Budget Schedule(s) for that program. Subrecipient shall operate continuously throughout the term of this Contract with at least the minimum number and type of staff and volunteers required for provision of the services described. Such staff and volunteers shall be qualified in accordance with all applicable statutes and regulations. Subrecipient agrees to submit to Administrator, upon request, a list of persons, including employees, subcontractors and volunteers, who are to provide such services, and any changes to said list, by name, title, professional degree, and experience. Additional Services. Subrecipient also shall provide the following services to Older Individuals to whom it provides the services described herein in Attachment A with the consent of the Older Individual, or his or her representative, Subrecipient shall bring to the attention of appropriate officials for follow-up, conditions or circumstances which place the Older Individual, or the household of the Older Individual, in imminent danger. Nothing in this paragraph shall be construed to limit Subrecipient’s responsibilities for elder abuse reporting as set forth in this Contract. Coordination of services. Subrecipient shall assure that all services funded under this Contract are coordinated with other appropriate services in the community and that services funded under this Contract do not constitute unnecessary duplications of services provided by other sources. Coordination of resources. Subrecipient shall work collaboratively with County, particularly the Information and Assistance Program (I&A), to ensure that clients who may need any services available through Older Americans Act or Older Californians Act Programs are referred to I&A for assistance in accessing these services.

  • Program Eligibility 1. All officers, regardless of assignment, will be eligible for the vehicle program subject to the limitations set forth below.

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