Loan Guarantees for Native Hawaiian Housing

 

To provide access to sources of private financing on Hawaiian home lands.

Active 14.874 Office of Public and Indian Housing, Department of Housing and Urban Development F - Guaranteed/Insured Loans Fiscal Year 2016 The program projects to guarantee 55 loans. The program guaranteed 64 loans.
Fiscal Year 2017 The program projects to guarantee 64 loans.
Fiscal Year 2018 The program projects to guarantee 55 loans.
Fiscal Year 2020 The program projects to guarantee 55 loans.
Fiscal Year 2021 Guarantee loans worth $16.1 million.
Fiscal Year 2022 Guaranteed 52 loans worth $14.2 million. Consolidated Appropriations Act of 2023, Public Law 117-328
Section 184A of the Housing and Community Development Act of 1992 (12 U.S.C. 1715z-13a) U.S.C. 184A
Consolidated Appropriations Act, 2022, Public Law 117-103 A Native Hawaiian family; the Department of Hawaiian Home Lands; the Office of Hawaiian Affairs; a private nonprofit organization experienced in the planning and development of affordable housing for Native Hawaiians. Native Hawaiian homeowners are the beneficiaries of the program. Individual Loan Applicants must meet the definitions of Native Hawaiian and provide the eligible lender with documentation of that eligibility, assets, income, debts and liabilities to show ability to obtain and repay the loan. This program is excluded from coverage under 2 CFR 200, Subpart E - Cost Principles. Preapplication coordination is not applicable. 2 CFR 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards applies to this program. Applications are submitted to eligible financial institutions. With the loan application, the homebuyer submits documentation such as pay stubs, W-2 forms, tax returns, evidence of assets such as bank accounts, and any other documentation requested by the lender to support the applicant's ability to obtain and repay the mortgage. The lender will verify the eligibility of the land status. The financial institution obtains and reviews all documentation. The financial institution is responsible for ensuring the individual applicant's Native Hawaiian eligibility, land status per Section 204 of the Hawaiian Homes Commission Act, housing acceptability, creditworthiness of the applicant, and approval or disapproval of the applicant. If loan guarantee funds are available, a firm commitment is issued by the lender. Firm commitments are valid for a period not to exceed 90 days from issuance. HUD is responsible for reviewing the lender's loan file after closing and issuance of the loan guarantee. Not applicable. From 15 to 30 days. HUD may approve a loan for guarantee under this part and issue a certificate under this section only if HUD determines that there is a reasonable prospect of repayment of the loan. From 15 to 30 days. Lenders whose loans are disapproved for loan guarantee may appeal the disapproval. Additional documentation to resolve the issues which led to the disapproval may be required. Not applicable. Not applicable. A loan guaranteed by this program may be used to construct, acquire, or rehabilitate eligible housing. The housing must be located on Hawaiian home lands. Not applicable. Participating lenders will be subject to review by HUD and closed loan files are subject to review to assure compliance with the requirements of Section 184A. Copies of loan files will be maintained by HUD. The originating lender must maintain copies of the guaranteed loan file for two years after loan closing. The servicing lender must maintain the loan file for the life of the loan plus three years. Statutory formula is not applicable to this assistance listing.

Matching requirements are not applicable to this assistance listing.

MOE requirements are not applicable to this assistance listing. The loan term shall not exceed thirty years. Processing time of the individual loans will depend on the quality of the application documentation submitted and the lender's ability to ascertain proper land and lease status. This is a loan guarantee program. Therefore assistance is given in the form of a guarantee. No funds are awarded or released unless there is a default on a guaranteed loan. Claudine Allen 1132 Bishop Street, Suite 1400 Honolulu, HI 96813 Email: Claudine.C.Allen@hud.gov Phone: (808) 457-4674 Krisa Johnson
451 7th Street, S.W., Room 4108
Washington, DC 20410 US
krisa.m.johnson@hud.gov
Phone: 2024024978 https://www.hud.gov/program_offices/public_indian_housing/ih/codetalk/onap/program184a 86-0233-0-1-371 (Guaranteed/Insured Loans) FY 22$14,200,000.00; FY 23 est $16,400,000.00; FY 24 est $15,800,000.00; FY 21$0.00; FY 20$0.00; FY 19$0.00; - No new credit subsidy budget authority. The average loan amount in FY 2022 was $293,000. 24 CFR Part 1007. Not applicable.