NATIONAL FORECLOSURE MITIGATION COUNSELING PROGRAM (NFMC)
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1 APRIL NATIONAL FORECLOSURE MITIGATION COUNSELING PROGRAM State Project/Program: NATIONAL FORECLOSURE MITIGATION COUNSELING PROGRAM (NFMC) US Department of Treasury Neighborhood Reinvestment Corporation (DBA) NeighborWorks America Federal Authorization: PL113-6X1350 (Round 7) North Carolina Housing Finance Agency Agency Contact Person-Program Mary Holder (919) Agency Contact Person-Financial Bobby Waring (919) Address Confirmation Letters To: Bobby Waring North Carolina Housing Finance Agency P.O. Box Raleigh, NC The auditor should not consider the Supplement to be safe harbor for identifying audit procedures to apply in a particular engagement, but the auditor should be prepared to justify departures from the suggested procedures. The auditor can consider the supplement a safe harbor for identification of compliance requirements to be tested if the auditor performs reasonable procedures to ensure that the requirements in the Supplement are current. The grantor agency may elect to review audit working papers to determine that audit tests are adequate. Auditors may request documentation of monitoring visits by the State Agencies. I. PROGRAM OBJECTIVES A. The intent of the National Foreclosure Mitigation Counseling (NFMC) funding is to expand and supplement counseling opportunities available to American families facing mortgages in default or in danger of default. II. PROGRAM PROCEDURES 1. General. The North Carolina Housing Finance Agency (NCHFA) invited HUD approved housing counseling organizations that met or exceeded the standards required for HUD approval to be part of the NFMC Program. Sub-grantees were selected based on the applicant s demonstrated experience, capacity and the ability to deliver counseling services to help families prevent a foreclosure. Sub-grantees are contracted through a NFMC Service Agreement, as amended, to operate the program within their service areas in accordance with program guidelines established by NeighborWorks America. The Service Agreement also requires sub-grantees to provide NCHFA the following documents: (1) National Industry Standards Counselor Certification (2) Conflict of Interest & Anti-Fraud Policy (3) B
2 Fidelity Bond Coverage & Honesty Insurance policy and (4) Audit Confirmation and Compliance reporting certification. Program funds may be used to support the following eligible activities: (1) Counseling services and (2) Program-Related Support activities or expenses. The amount of funds budgeted for each sub-grantee is based on: The total projected number of NFMC counseling sessions to be completed with a maximum allowable amount of $ disbursed for each eligible client served (see page 4, Section B. Allowable Costs/Cost Principal of this supplement for breakdown of allowable disbursements); Plus an allocation for Program-Related Support up to 20% of the sub-grantee s budget for counseling sessions to be completed. Any sub-grantee that receives and expends $ 500, or more in federal funds during the fiscal year must comply with OMB A-133 requirements. In addition, subgrantees that are non-profit organizations will be subject to the administrative requirements of the OMB Circular A-110 as it may be amended and A-122. Finally, sub-grantees that are non-governmental organizations must also submit compliance reports required by the North Carolina Statue 143C-6-23 (For additional information, please see Management of Fund section of the sub-grantee s NFMC Service Agreement). 2. Monitoring of Sub-grantees by NCHFA NCHFA monitors sub-grantees progress in meeting projected housing counseling session goals by regularly reviewing data submitted to the Agency s NFMC web-based reporting system and by reviewing submitted program-related support expenditure reports. Appropriate documentation is required for all program-related support expenses charged to NFMC. NCHFA randomly selects a number of client files for desk top audit review to confirm that counseling agencies are properly documenting files in accordance with NFMC guidelines. III. COMPLIANCE REQUIREMENTS A. Activities Allowed or Unallowed As previously stated, NFMC funds may only be used to support the following eligible activities: (1) housing counseling services provided to American families facing mortgages in default or in danger of default and (2) program-related support activities. Counseling can include a range of activities depending on the client s financial situation and the severity of the mortgage delinquency. NeighborWorks America has developed a multi-tiered fee structure for various levels of housing counseling services. The fee for completion of a Level 1 or Level 2 counseling session is $ and $ respectively. Effective September 2009, the National Foreclosure Mitigation Program allowed sub-grantees to use up to 30% of their Counseling Awards to fund Level Four A. (4a) and Four B. (4b) sessions under the Making Home Affordable (MHA) program. The fees for these sessions were set at $ for a Level 4a session and $ for level 4b session. The following section briefly describes each of the counseling level sessions allowable under the National Foreclosure Mitigation Counseling Program: B
3 Level 1 Counseling: To qualify for a level one payment ($150.00), a counseling agency is required to complete the following steps: 1. Organization must conduct an intake including client name and address, basic demographic information, lender and loan information, and reason for delinquency. 2. Organization shall collect a signed authorization form from the client or have other legally permissible client authorization on record that will allow organization to: (a.) submit client-level information to the data collection system for this grant, (b.) open files to be reviewed for program monitoring and compliance purposes, and (c.) follow-up with client related to program evaluation. Clients may opt-out of (c.) above only, but proof of this opt-out must be retained in the client s file. Organization must also allow client access to its privacy policy statement. 3. Organization must develop a budget for the client based on client s oral representation of their expenses, debts, and available sources of income. 4. Organization must develop a written Action Plan for follow up activities to be taken by the client and review this Action Plan with the client. 5. Organization must determine and document if client is eligible for a Making Home Affordable Program refinance or modification. Level 2 Counseling: To qualify for a level two payment ($300.00), a counseling agency is required to complete the following steps: 1. Engage in budget verification during which the counselor reviews documented evidence provided by the client to establish true debt obligations (credit report), monthly expenses (monthly bills and banks statements) and spending patterns, and realistic opportunities for income (tax returns and pay stubs). 2. If not already on file, organization shall collect a signed authorization form from the client or have other legally-permissible client authorization on record. 3. Steps to obtain a solution outlined in the written Action Plan are taken and documented using counseling notes that indicate date counseling occurred. Level 4a Counseling: To qualify for a level 4a payment ($300.00), a counseling agency is required to complete the following steps: 1. Organization shall keep on file proof that client was referred to the agency with a trial Making Home Affordable loan modification for Level Four counseling because his or her back end debt-to-income ratio is 55% or greater. 2. Organization shall collect a signed authorization form from the client or have other legallypermissible client authorization on record that will allow organization to (a) submit client level information to the data collection system for this grant, (b) open files to be reviewed for program monitoring and administrators and their agents, and (c) conduct follow up with client related to program evaluation. Clients may opt out of only (c) above, but proof of this opt out must be retained in the client s file. Organization must also allow client access to its privacy policy statement. 3. Documentation of DTI: The counselor will verify income, debt, and expenses and calculate back end debt-to-income ratio. The back end DTI is the ratio of the borrower s total monthly debt payments to the borrower s Monthly Gross Income. A standard for calculating back end DTI is included in the Counseling Protocol. 4. Create Budget: Counselor will create a crisis budget (if necessary) and long-term budget using a standard form and recalculate new back end debt-to-income ratio. 5. Create Action Plan which includes a timeline to eliminate unnecessary debt, minimize expenses, increase income, and increase savings. 6. Discuss terms of mortgage and how to stay current, even if/when rate resets. 7. Refer to job training or referral programs if applicable. B
4 8. Establish follow-up schedule with counselor, with at least one additional appointment, as required by action plan. 9. Establish that budget (including analysis of actual income, debt and expenses) must be tracked over the course of counseling. 10. The counselor must document each session, including the borrower s back end debt-to-income ratio and the borrower s willingness to continue/complete counseling. Level 4b Counseling: To qualify for a level 4b payment ($ ), a counseling agency must document that a 4a client has completed one follow-up session and the following information is on file: 1. Documentation of DTI: The counselor will verify income, debt, and expenses and calculate back end debt-to-income ratio at time of follow-up appointment. The back end DTI is the ratio of the borrower s total monthly debt payments to the borrower s Monthly Gross Income. A standard for calculating back end DTI is included in the Counseling Protocol. 2. Documentation of borrower s ability to keep to crisis budget and/or long-term budget and progress against Action Plan developed during first visit. 3. Status of borrower s payment on modified loan Program-Related Support Sub-grantees are allocated up to 20.0% of their counseling award for Program-Related Support. Eligible uses of Program-Related Support include: a) Establishing a triage system that makes more effective and efficient use of counseling time for mortgage and home foreclosure related situations b) Outreach to delinquent clients, especially in areas of greatest need. c) Group orientation and education sessions to help use counseling time more effectively. Registering attendees, preparing for and delivering these group sessions are all eligible uses. d) Infrastructure development and communication e) Improving capacity and infrastructure for tracking and reporting data f) Purchase or lease of equipment and software for new counselors g) Costs related to hiring, orienting and training new counseling staff h) Collecting data and preparing quarterly reports and draw requests i) Quality control of the counseling function. j) Outreach and communication on preventing rescue or loan modification scams. B. Allowable Costs/Cost Principal The NFMC program compensates sub-grantees based on the type of counseling session completed (Level 1, 2, 4a or 4b) based on the following fee structure: Level 1 Counseling = $ Level 4a Counseling = $ Level 2 Counseling = $ Level 4b Counseling = $ Sub-grantees are prohibited from billing HUD for counseling that was already funded by the NFMC grant. For example, a sub-grantee receiving reimbursement from NFMC for counseling John Doe, cannot also bill the HUD housing counseling grant for costs related to counseling John Doe that may have exceeded NFMC reimbursement. In addition, all NFMC funding must be used to specifically fund subgrantees foreclosure counseling program and related expenses no already reimbursed by another program. C. Cash Management B
5 NCHFA advances NFMC grant funds to sub-grantee which is in accordance with the NFMC program guidelines. The initial advance is provided upon execution of the Service Agreement and receipt of other required documents. Subsequent funds are disbursed as the sub-grantee completes a pre-determined number of counseling sessions. D. Davis-Bacon Act Not Applicable E. Eligibility NFMC assisted clients must be owner-occupants of single-family (one to four units) properties who are delinquent on their mortgages, and are at risk of default and foreclosure. F. Equipment and Real Property Management Any equipment purchased wholely or in part with NFMC Program-related expenses must be used to support NFMC counseling services provided. The sub-grantee must maintain appropriate documentation to verify use of said equipment. NFMC funds cannot be used for Real Property Management. G. Matching, Level of Effort, Earmarking There is no match requirement for Sub-grantees. Level of effort is monitored through monthly submitted reports. Failure to meet projected housing counseling session goals may result in a recapture of funds. H. Period of Availability The period of availability which is commonly known as the performance period for the NFMC grant typically runs for 15 months from October to December of the following year. The performance period for Round 7 was October 1, 2012 through December 31, 2013 and Round 8 (if approved) will be October 1, 2013 through December 31, I. Procurement and Suspension and Debarment Not applicable. J. Program Income Sub-grantees receive program income upon delivery of acceptable housing counseling sessions. In addition, program related support is income that is disbursed when the sub-grantee has submitted required documentation to support the expense was specifically related to NFMC. Sub-grantees are required to submit a final NFMC report which categorically outlines how the NFMC grant funds were used in conjunction with their overall FC prevention program expenses. Since the counseling activity is funded through the NFMC grant, sub-grantees agree not to charge the homeowner counseling fees as program income. K. Real Property Acquisition and Relocation Assistance Real Property Acquisition is not an eligible activity for the NFMC grant nor is permanent Relocation Assistance. B
6 L. Reporting The sub-grantee is required to provide quarterly reports in a format acceptable to the Agency according to a timeline that is outlined in the Service Agreement. Sub-grantees also submit counseling sessions in the Agency electronic portal and any attempted upload of duplicate cases are rejected by the system. Subgrantees also submit Program Related Expense reports with documentation which are required for expense reimbursement. M. Sub-grantees Monitoring NCHFA monitors sub-grantee progress in meeting projected housing cousenling session goals by regularly reviewing data submitted to the Agency s NFMC web-based reporting system. Sub-grantee correspondence is consistent throughout each month and notice is provided in the event that sub-grantees are deficient in meeting the counseling goals for each upload requirement. NCHFA conducts desk top audits and randomly selects client files for review of proper program documentation requirements. N. Special Test and Provisions Not applicable. B
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