Illinois Administrative Code
Title 47 - HOUSING AND COMMUNITY DEVELOPMENT
Part 302 - HOMEOWNER ASSISTANCE FUND PROGRAMS
Subpart B - BORROWER ELIGIBILITY REQUIREMENTS
Section 302.204 - Administration of Program
Universal Citation: 47 IL Admin Code ยง 302.204
Current through Register Vol. 48, No. 12, March 22, 2024
The Authority will establish procedures to administer the HAF program, including application process and review that will include the following:
a) applications will be taken via an online application platform; processing staff will review files for program eligibility through applicant attestations, applicant provided documents and servicer provided mortgage information;
b) application controls and due diligence will include:
1) verification of applicant
attestations, review of application documentation to ensure eligibility,
verification of data provided by Servicers and approval, denial or escalation
of application files as appropriate; and
2) review of application records and uploaded
documents to validate compliance with the Authority's procedures (as identified
in this Part); and
c) Authority staff will onboard Eligible Servicers, exchange Applicant mortgage or other relevant information, and initiate payments to Eligible Servicers.
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