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Housing Administrators, Inc. provides multiple services to the housing finance industry, including ongoing program administration, compliance, and monitoring duties for both Single Family and Multi-Family Issues. In addition we furnish quick response to special projects such as Targeted Area Studies and Purchase Price Studies for new issues and Mortgage Analysis Reports for programs which are being restructured.
Single Family Mortgage Revenue Bonds
In its function as Administrator for issuers of tax free bonds sold for the purpose of providing mortgage money for first time home buyers, HAI works with numerous Issuers. Our administration duties include:
 Monitoring the collection of mortgage servicers to verify correct remittance to the Trustee Banks.
Approving foreclosures and reviewing maintenance expenses on REO properties.
Supervising marketing of REO properties and approving sale contracts on the properties.
Tracing private mortgage insurance and Pool Policy claims.
Performing audits on REO loan files to assure that the Issuer has been protected.
Producing monthly Administration Reports for the Issuer.
Multi-Family Mortgage Revenue Bonds
We also serve as Administrator for Multi-Family Revenue Bond Programs with our various services including:
Monitoring the projects for compliance with the Regulatory Agreements, including procedures for determining Income eligibility of tenants and annual re-certification of tenant eligibility, along with proper documentation of these activities.
Analysis of the various projects' unit status on a regular basis to determine that the required number of units are leased to tenants meeting the designated income limitations.
Providing monthly or quarterly reports to the Housing Finance Corporations reflecting the status of the projects as they relate to all compliance issues.
Conducting annual on-site inspections of the properties to confirm the property owners' continued compliance with the various Regulatory Agreements. Providing the Issuer with the annual monitoring report based on these on-site visits.
Mortgage Credit Certificate Programs
We provide administration of Mortgage Credit Certificate (MCC) Programs. An Issuer may opt to exchange their bond allocation for an MCC allocation. When mortgage interest rates are low or dropping, this may be a good choice. We have provided MCC program administration since 1991 and offer the following services:
Assistance in structuring the Program and developing the Program Manual.
Assistance in recruiting participating lenders, marketing the program, and training the lenders.
Ongoing promotion of the MCC program through presentations to lenders, realtors, builders and other interested groups.
Working day to day with the participating lenders, issuing commitment letters
Reviewing loan submissions and issuing certificates.
Fulfilling IRS reporting and documentation requirements.
Furnishing monthly accounting and demographic reports to the Issuers.
Mortgage Analysis Services
Housing Administrators, Inc. is experienced in providing mortgage analysis services for Bond Programs which are being restructured or selling their mortgage loans. In-depth analysis of all outstanding mortgage loans in the portfolio is provided using information furnished by the Servicer, Administrator and Insurers, as well as data obtained through a field audit on the premises of the Trustee bank to review all legal documents.
Other Specialized Services
HAI is responsive to the special needs of the housing finance industry. We have developed methodologies to provide Targeted Area Studies for determining "set aside" for new issues and Purchase Price Studies for establishing home price limits.
These services were developed in response to the need of Issuers for "set aside" amounts and "purchase price limits" that reflect the actual conditions in their jurisdictions. If you have a special project, please
contact us.
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