Insight into the U.S. Treasury Update for Homeowner Assistance Fund (HAF) Allocation

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Editor’s Note: This post was originally published in June 2021 and has last been updated on November 3, 2021 for accuracy.

Last week, the U.S. Department of the Treasury announced a new deadline for a Tribe, Tribally Designated Housing Entity (TDHE), or the Department of Hawaiian Home Lands to submit a notice of funds request to be extended to November 15, 2021.

For state agencies, in August the Treasury announced a new deadline of August 20th by which they were required to submit the Homeowner Assistance Fund (HAF) plan or notify the Treasury of the date they planned to submit a completed plan. The Treasury has provided an online portal where state agencies can upload their plans.

This notice is the latest of the series of HAF Plan submission deadline extensions the Treasury has allowed since June. In their late July announcement, the Treasury indicated that the deadline will be extended beyond July 31st but left it open-ended. With this latest update, state agencies are closing all loose ends on their HAF plans and preparing for the complete plan submissions. As noted by the Treasury, state agencies can choose not to submit the plan but notify the Treasury the date by which their plans will be submitted.

State agencies are busy analyzing available emergency fund deployment software solutions, and ancillary services from call service providers, loan processors, underwriters, and file audit and compliance processors. ProLink offers all services required for many states and we have been providing national webinars to apprise states of the software and services we can provide to assist in the administration of their HAF plans.

 

About the Homeowner Assistance Fund

The Homeowner Assistance Fund provides $9.961 billion in assistance nationally related to mortgages and housing, including:

  • A minimum of $50 million for each state, the District of Columbia and Puerto Rico
  • $498 million for Tribes or Tribally designated housing entities and the Department of Hawaiian Home Lands
  • $30 million for the territories of Guam, American Samoa, the U.S. Virgin Islands, and the Commonwealth of the Northern Mariana Islands

You can read more about it on the U.S. Treasury website.