Contract - Indiana Housing and Community Development Authority - DCI

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When reporting for Level Two counseling activities, all five of these completed documents must be in the client's file: authorization, disclosure, privacy policy, budget verification, and verification of action taken based on the Action Plan. The Contractor must certify that all NFMC clients are owner -occupants of their homes at the time they receive counseling. By existing statute, NFMC clients must be owner -occupants of single-family (one -to four -unit) properties with mortgages in default or in danger of default. Note: Starting with Round 3, NFMC no longer has a "Level Three" counseling designation. Clients that would previously have been reported as Level Three should now be reported twice — once at Level One, and once at Level Two. Treasury Directive 13-08 now allows payments to be made to counseling agencies for providing post -modification counseling in certain circumstances; Clients that would previously have been reported as "Level Four" should now only be reported as "Level Four" if they have a Government Sponsored Entity ("GSE") loan or loan owned or guaranteed by the Veterans Administration ("VA") the Department of Agriculture's Rural Housing Service ("RHS"), or the Federal Housing Administration ("FHA"). If the Contractor participates as a referral agency that receives compensation for providing post -modification counseling for Fannie Mae or Freddie Mac it must not report those same clients as NFMC "Level Four" clients. Level Counseling: Making Home Affordable/Post-Mitigation Counseling Borrowers with a trial loan modification or permanent loan modification under the Home Affordability Modification Program ("HAMP") who need post -modification financial counseling and have a Government Sponsored Entity Loan, or loan owned or guaranteed by the Veterans Administration ("VA"), the Department of Agriculture's Rural Housing Service ("RHS"), or the Federal Housing Administration ("FHA") are eligible for Level Four counseling. If a borrower contacts the Contractor for counseling or is referred by a servicer or other agency, the Contractor will work with the borrower to submit an intake package to the servicer. This counseling must conform to Level One and Level Two counseling requirements. If the borrower does receive a trial loan modification or permanent loan modification under HAMP from a compliant loan source, the Contractor can provide the borrower with Level Four counseling, as described in the Counseling Protocol that can be found on the NFMC Program members' site. The Contractor cannot receive payment for a client until after all the required actions for the level have occurred and have been documented accordingly. Level 4a Counseling: (Initial Making Home Affordable Counseling) To qualify for a Level 4a payment ($300.00), the Contractor will be required to complete all of the following steps: 1. Verification of Client Loan Source. The Contractor must provide documentation that verifies the client's loan source is GSE, RHS, FHA, or VA. Documentation can include but is not limited to a screenshot from the Making Home Affordable website loan look -up tool, or from Fannie or Freddie's loan look -up tool. Additional tools for specific loan types can include but is not limited to: {00024811-11 Page 28 of 39