Common use of Program Exclusions Clause in Contracts

Program Exclusions. A Notice of Default (“NOD”) has been recorded on the subject property’s first mortgage loan more than 60 days prior to the date of request for UMA assistance. • Homeowner has a subordinate lien that is in foreclosure as evidenced by a recorded NOD or Notice of Trustee’s Sale (“NOS”). • Homeowner is in “active” bankruptcy. Homeowners who have previously filed bankruptcy are eligible for consideration only with proof of court order “Dismissal” or “Discharge”. • Homeowner’s “hardship” is a result of voluntary resignation of employment. • Homeowner in an active HAMP trial modification is not eligible for UMA consideration unless the trial is cancelled. • Homeowner becomes fully employed at any time during the UMA benefit period. • Homeowner is actively being reviewed for a short sale, a deed in lieu and/or TAP benefits. • Property is subject to a first priority lien securing a Home Equity Line of Credit (“HELOC”).

Program Exclusions. A Notice of Default (“NOD”) has been recorded on the subject property’s first mortgage loan more than 60 days prior to the date of request for UMA MAP assistance. • Homeowner Borrower has a subordinate lien that is in foreclosure as evidenced by a recorded NOD or Notice of Trustee’s Sale (“NOS”). • Homeowner Borrower is in “active” bankruptcy. Homeowners Borrowers who have previously filed bankruptcy are eligible for consideration only with proof of court order “Dismissal” or “Discharge”. • HomeownerBorrower’s “hardship” is a result of voluntary resignation of employment. • Homeowner Borrower in an active HAMP trial modification is not eligible for UMA MAP consideration unless the trial is cancelled. • Homeowner Borrower becomes fully employed at any time during the UMA MAP benefit period. • Homeowner Borrower is actively being reviewed for a short sale, or a deed in lieu and/or TAP benefitslieu. • Property is subject to a first priority lien securing a Home Equity Line of Credit (“HELOC”).