Current through Reg. 49, No. 38; September 20, 2024
(a) Scope. This
section governs the administration of and disbursements from the fund (each of
which is considered a grant disbursement) for purposes of:
(1) Finance Code § 156.554(b)(1),
concerning grants to an auxiliary mortgage loan activity company or another
nonprofit organization to promote financial education relating to mortgage
loans; and
(2) Finance Code §
156.554(b)(3), concerning disbursements to provide support for statewide
financial education, activities, and programs specifically related to mortgage
loans for consumers, or for the purposes provided by Finance Code §
RSA
393.628(c).
(b) Grant Cycle. The fund may have
one competitive grant cycle every two years.
(1) Funding Determination. The grant funding
determination is made by the Commissioner by December 31 of each even-numbered
year. The Commissioner will determine the separate funding available and
allocated to each of the purposes of Finance Code § 156.554(b)(1) and
(3).
(2) Programming Cycle. A new
fund grant programming cycle may open on January 1 of every odd-numbered year.
An applicant may choose to apply for a one-year grant programming cycle, or a
two-year grant programming cycle. The grant programming cycle for a one-year
grantee begins on January 1 and ends on December 31 of the odd-numbered year
for the applicable cycle. The grant programming cycle for a two-year grantee
begins on January 1 of the odd-numbered year and ends on December 31 of the
following even-numbered year for the applicable cycle.
(c) Eligibility. A grant made under Finance
Code § 156.554(b)(1) and subsection (a)(1) of this section may only be
given to a company licensed by the Department as an auxiliary mortgage loan
activity company, or a nonprofit organization. A grant made under Finance Code
§ 156.554(b)(3) and subsection (a)(2) of this section may be given to a
nonprofit organization, school, or for-profit entity. Grant funding is not
available to entities licensed or registered by the Department other than
auxiliary mortgage loan activity companies in accordance with Finance Code
§ 156.554(b)(1) and subsection (a)(1) of this section.
(d) Grant Application. To be considered for
the grant program, an applicant must complete and submit the grant application
by the deadline and in accordance with the instructions for the applicable
grant cycle. Late or incomplete grant applications will not be accepted.
Meeting eligibility criteria and timely submission of a grant application does
not guarantee award of a grant in any amount.
(e) Review and Approval. The Commissioner,
upon receipt of advice from MGAC and the Grant Coordinator, will review timely
and complete applications and determine the grants to be awarded.
(f) Grant Agreement. To participate in the
grant program, a grantee approved by the Commissioner to receive a grant must
execute the grant agreement approved by the Commissioner for the applicable
grant cycle (grant agreement).
(g)
Grantee Compliance. A grantee must comply with applicable financial,
administrative, and programmatic terms and conditions, and exercise proper
stewardship over grant program funds. A grantee must use awarded funds in
compliance with the following in effect for the applicable grant cycle:
(1) all applicable state laws and
regulations;
(2) all applicable
federal laws and regulations;
(3)
the Mortgage Grant Administration Manual;
(4) the grant application, including all
application guidelines and instructions at the time of application;
(5) the grant agreement signed by the
Commissioner or the Commissioner's designee and the grantee;
(6) all reporting and monitoring
requirements, as outlined in the grant agreement; and
(7) any other guidance documents posted on
the Mortgage Grant Fund website for the applicable grant cycle.
(h) Reporting and Monitoring.
(1) General reporting requirements. To
receive reimbursement of grant expenses a grantee must:
(A) submit periodic grant reports as provided
by the grant agreement;
(B)
maintain satisfactory compliance with the grant agreement and the grant
activities as proposed by the grantee in its grant application;
(C) identify, track and report performance
measures; and
(D) track and report
participant demographic information.
(2) Progress Reports. A grantee must submit
progress reports that demonstrate performance outcomes and financial
information over the term of the grant in accordance with and by the deadlines
set forth in the grant agreement.
(3) Six-month Longitudinal Report. A grantee
must submit a six-month longitudinal report after program completion to
demonstrate program objectives.
(4)
Monitoring. The Grant Coordinator or MGAC may use the following methods to
monitor a grantee's performance and expenditures:
(A) Desk Review. The Grant Coordinator or
MGAC may conduct a desk review of a grantee to review and compare individual
source documentation and materials to summary data provided during the
reporting process; or
(B) Site
Visits and Inspection Reviews. The Grant Coordinator or MGAC may conduct a
scheduled site visit to a grantee's place of business to review compliance and
performance issues. Site visits may be comprehensive or limited in
scope.
(i)
Reimbursement.
(1) Eligibility. To be
eligible for reimbursement, a grantee must comply with all terms of the grant
agreement, as well as all other items provided in subsection (g) of this
section. To ensure that grant funds are used for a public purpose as provided
by Finance Code § 156.556(1), grant funds will only be awarded on a cost
reimbursement basis for all actual, allowable, and allocable costs incurred by
a grantee pursuant to the grant agreement. Expenses that were incurred before
the beginning or after termination of the grant agreement are not eligible for
reimbursement.
(2) Procedure. To
request reimbursement for work performed on grant activities, a grantee must
submit a grant reimbursement report in accordance with and by the deadlines set
forth in the grant agreement. A grantee must submit a detailed expense report
with supporting documentation to justify the reimbursement request. The
Department will review and approve requests for reimbursement that satisfy the
requirements and promptly disburse funds in response to approved
requests.
(j) Misuse of
Grant Funds. The Commissioner may require a refund of grant funds already
disbursed to the grantee and may cancel the grant agreement or disqualify the
grantee from receiving future grants from the fund if:
(1) grant funds are not used for a public
purpose allowable under Finance Code § 156.554;
(2) grant funds are used in an illegal
manner;
(3) the grantee violates
the terms or conditions of the grant agreement or otherwise violates the
requirements of subsection (g) of this section; or
(4) the Commissioner discovers the grantee
made any material misrepresentations in obtaining the grant or in seeking
reimbursement of grant funds.
