arizona’s hardest hit fund quarterly performance summary · 2020. 1. 6. · this document...

Arizona’s Hardest Hit Fund Quarterly Performance Summary

Save Our Home AZ Quarterly Performance Summary for period ending March 31, 2015 I

TO: Mark McArdleHardest Hit FundU.S. Department of the Treasury

FROM: Michael Trailor, ChairmanArizona Home Foreclosure Prevention Funding Corporation

DATE: May 15, 2015

RE: Hardest Hit Fund Quarterly Performance Datafor the period ending March 31, 2015

Arizona is pleased to provide its Quarterly Performance Data Report for the period ending March 31,2015. The attached report provides the data sets required by the U.S. Department of the Treasury(“Treasury”). To provide further context for the figures reported in the Treasury report, we are alsoproviding this introductory summary as a supplement to enhance the reviewer’s understanding ofArizona’s Hardest Hit Fund program, Save Our Home AZ.

The Save Our Home AZ Program is administered by the Arizona Department of Housing on behalf of theArizona Home Foreclosure Prevention Funding Corporation (AHFPFC). Funds for the Program come fromthe U.S. Department of the Treasury, Housing Finance Agency Innovation Fund for the Hardest-HitHousing Markets. The Program provides assistance to eligible Arizona homeowners in the form ofPrincipal Reduction Assistance for modification or eligible refinances, Unemployment/Under-employment Mortgage Assistance, Reinstatement of delinquent payments, Second Lien Elimination, andShort Sale Assistance.



Program EnhancementsThe program currently has a request before Treasury to amend its program agreement to allow forreinstatement of junior liens. When the program was first designed most Borrowers seeking assistancewere significantly underwater and a junior lien was generally not worth the paper on which it wasprinted. For this reason Arizona’s program was designed to offer a reduced payoff under the SecondMortgage Settlement component. Under some conditions this scenario still works, but Arizona is findingthat it is increasingly unable to assist some Borrowers due to the fact that Arizona’s real estate market isstrengthening in some areas with home values increasing, so that lenders are no longer interested insettling their interests in junior liens and in fact, in some instances, may be interested in foreclosingdespite a junior position. This change would allow the program to assist a number of homeowners whocannot be provided with relief otherwise.

Arizona continues to evaluate its programs in order to provide every opportunity for adjustments thatwill enable the funds to be utilized to assist eligible households.

Direct mail and advertising on news web pages has provento be one of the most effective marketing tools for the Save Our Home AZ program.

Household Assistance Levels IncreaseDuring the first quarter of 2015, 190 new households were approved to receive assistance. Fromprogram inception through this period, a total of 3,736 households have received assistance.

0

500

1000

1500

2000

2500

3000

3500

4000

1Q2011

2Q2011

3Q2011

4Q2011

1Q2012

2Q2012

3Q2012

4Q2012

1Q2013

2Q2013

3Q2013

4Q2013

1Q2014

2Q2014

3Q2014

4Q2014

1Q2015

Households Assisted



Assistance Commitments by ComponentThe Save Our Home AZ program provides assistance under several components: Principal ReductionAssistance, Second Mortgage Settlement Assistance, Un/Underemployment/Reinstatement MortgageAssistance, and Short Sale Assistance. The chart below shows the breakdown of assistance in thesevarious components.

HHF Budget and Commitments Analysis

Component Budgeted CommittedPrincipal Reduction Assistance $ 119,818,609 $ 51,992,057.551

Second Mortgage Settlements 8,962,911 7,123,764.982

Under/Unemployment/Reinstatement MortgageAssistance

100,782,837 60,385,197.853

Short Sale Assistance 3,336,695 677,518.544

Program Budget $ 232,901,052 $ 120,178,538.92Administrative Budget 34,864,954 17,105,417.015

Total Budget $ 267,766,006 $ 137,283,955.93

NotesAs of March 31, 2015:1Of the $51,992,057.55 that has been committed for Principal Reduction Assistance, $1,461,378.84 of that amount remained inescrow awaiting the closing of the assistance.2Of the $7,123,764.98 committed for Second Mortgage Settlements, $465,785.54 of that amount remained in escrow awaitingthe closing of the assistance.3Of the $60,385,197.85 that has been committed for Un/Underemployment/Reinstatement Mortgage Assistance,$25,209,761.88 remains held in escrow to be disbursed for further, future monthly payments for participating homeowners.4Of the $677,518.54 that has been committed for Short Sale Assistance, all has been disbursed for assistance.5Of the $17,105,417.01 spent on administrative expenses, $8,687,318.47 was spent on counselor services for applicants.

Un/Underemployment MortgageAssistance,

$60,385,198

Short SaleAssistance,$677,519

Commitments by Component


Save Our Home AZ Quarterly Performance Summary for period ending March 31, 2015 I Page 3






100,782,837 60,385,197.853



Total Budget $ 267,766,006 $ 137,283,955.93


Principal ReductionAssistance,

$51,992,058

Second MortgageSettlements,$7,123,765










100,782,837 60,385,197.853



Total Budget $ 267,766,006 $ 137,283,955.93



$51,992,058





Administrative Costs in perspectiveHHF administrative costs include salaries of Department employees, marketing, housing counselingagencies, title company fees, etc.

The majority of these costs are incurred by advertising the program, accepting, reviewing andunderwriting applications, advocating on behalf of homeowners with their lenders, facilitating themyriad of legal documents required to provide assistance and executing those documents at closing.Most administrative costs are incurred to commit Hardest Hit Funds to the homeowner. Arizona’sadministrative costs, of which counseling costs are included, are currently under budget at 12% ofoverall expenditures.

Un/UnderemploymentMortgage Assistance

38%

Short Sale Assistance1%

HHF Budget


44%


Administrative Costs6%


Program to Administrative Cost Comparison





Principal ReductionAssistance

45%

Second MortgageSettlements

3%


38%


Administrative Costs(including Counselors)

13%


38%


6%Un/UnderemploymentMortgage Assistance

44%



Counseling Costs6%

HHF Usage to date

ProgramCommitments

88%


Counselor Costs6%







45%


3%


38%


6%

HHF Usage to date

This document describes the Housing Finance Agency (HFA) Hardest-Hit Fund (HHF)data that state HFAs are required to provide to the U.S. Department of the Treasury. Itincludes quarterly borrower characteristic data and program specific performance data. AllHFA HHF data submitted to the U.S. Department of the Treasury must be accurate,complete, and in agreement with retained HFA records. Data should be reported by eachstate HFA by the 45th day following the quarter.

Data requested in the "Borrower Characteristic" worksheet should be reported in aggregatefor all HHF programs run by the state HFA. Program specific data is separated intoreporting tabs for each individual program. State HFAs should report program performancedata on an individual program basis. A data dictionary has been provided to assist in thedefinition of each data point.

Template Version Date: January 2015

12 Number of Unique Borrowers Receiving Assistance 195 37283 Number of Unique Borrowers Denied Assistance 550 107114 Number of Unique Borrowers Withdrawn from Program 49 10335 Number of Unique Borrowers in Process 147 N/A6 Total Number of Unique Borrower Applicants 941 1561978 Total Assistance Provided to Date $6,485,784 $93,507,3989 Total Spent on Administrative Support, Outreach, and Counseling $1,188,510 $17,105,417

1011 Above $90,000 3.08% 2.90%12 $70,000- $89,000 5.64% 5.95%13 $50,000- $69,000 15.90% 13.22%14 Below $50,000 75.38% 77.92%1516 Above 120% 2.05% 5.50%17 110%- 119% 1.03% 1.82%18 100%- 109% 0.51% 2.36%19 90%- 99% 6.15% 4.83%20 80%- 89% 4.62% 4.77%21 Below 80% 85.64% 80.71%2223 Maricopa County 92 213824 Pima County 62 82825 Pinal County 8 26126 Balance of State 33 50127282930 American Indian or Alaskan Native 1 4331 Asian 2 6632 Black or African American 7 23933 Native Hawaiian or other Pacific Islander 4 1834 White 128 245935 Information Not Provided by Borrower 53 9033637 Hispanic or Latino 71 107038 Not Hispanic or Latino 108 219439 Information Not Provided by Borrower 16 4644041 Male 84 176242 Female 84 160943 Information Not Provided by Borrower 27 357444546 American Indian or Alaskan Native 0 947 Asian 2 2148 Black or African American 0 4549 Native Hawaiian or other Pacific Islander 0 450 White 31 67251 Information Not Provided by Borrower 19 3395253 Hispanic or Latino 14 29954 Not Hispanic or Latino 32 65055 Information Not Provided by Borrower 6 1415657 Male 12 28358 Female 30 64959 Information Not Provided by Borrower 10 158

Race

Sex

Ethnicity

RaceCo-Borrower

Borrower

Ethnicity

Sex

ArizonaHFA Performance Data Reporting- Borrower Characteristics

Borrower Income as Percent of Area Median Income (AMI)

Geographic Breakdown (by county)

Home Mortgage Disclosure Act (HMDA)

QTDUnique Borrower Count

Cumulative

Program Expenditures ($)

Borrower Income ($)


QTDUnique Borrower Count

Cumulative6061 Unemployment 105 213462 Underemployment 40 63363 Divorce 3 5564 Medical Condition 9 17265 Death 0 2166 Other 38 7136768 <100% 54.87% 31.81%69 100%-109% 8.21% 8.10%70 110%-120% 7.18% 8.99%71 >120% 29.74% 51.10%7273 <100% 41.38% 19.78%74 100%-119% 24.14% 16.02%75 120%-139% 13.79% 19.78%76 140%-159% 5.17% 13.23%77 >=160% 15.52% 31.20%7879 Current 30.77% 29.53%80 30+ 9.23% 7.30%81 60+ 8.21% 6.57%82 90+ 51.79% 56.60%8384 1 65 111385 2 44 93886 3 38 58387 4 28 55388 5+ 20 541

*The Geographic Breakdown, Hardship Information, HMDA fields as well as Median Household Size should be reported inwhole number format. All other Borrower Characteristic fields should be reported as %**Since applications marked as denied or withdrawn in previous quarters may be reconsidered due to a change inborrower circumstances, some unique borrower counts may not sum in a quarter-over-quarter fashion.

Current Combined Loan to Value Ratio (CLTV)

Current Loan to Value Ratio (LTV)

Household Size

Hardship

Delinquency Status (%)

123 Number of Borrowers Receiving Assistance 57 9714 % of Total Number of Applications 6.06% 6.22%56 Number of Borrowers Denied 0 07 % of Total Number of Applications 0.00% 0.00%89 Number of Borrowers Withdrawn 0 0

10 % of Total Number of Applications 0.00% 0.00%1112 Number of Borrowers In Process 0 N/A13 % of Total Number of Applications 0.00% N/A1415 Total Number of Borrowers Applied 0 0

16Number of Borrowers Participating in Other HFA HHF Programs orProgram Components 17 196

171819 Median 1st Lien Housing Payment Before Assistance 1,038 1,05620 Median 1st Lien Housing Payment After Assistance 853 79221 Median 2nd Lien Housing Payment Before Assistance 210 20722 Median 2nd Lien Housing Payment After Assistance N/A N/A23 Median 1st Lien UPB Before Program Entry 162,973 167,02924 Median 1st Lien UPB After Program Entry 128,776 122,80025 Median 2nd Lien UPB Before Program Entry 32,544 31,09126 Median 2nd Lien UPB After Program Entry N/A N/A27 Median Principal Forgiveness1 40,275 44,36928 Median Length of time Borrower Receives Assistance N/A N/A29 Median Assistance Amount 40,275 44,3693031 Assistance Provided to Date $2,106,634 $50,530,67932 Total Lender/Servicer Assistance Amount $51,886 $2,155,12433 Borrowers Receiving Lender/Servicer Match (%) 5.26% 7.62%34 Median Lender/Servicer Assistance per Borrower $37,606 $45,8353536 Median Length of Time from Initial Request to Assistance Granted 58 483738 Number 49 85039 % 85.96% 87.54%4041 Number 3 3042 % 5.26% 3.09%4344 Number 0 1745 % 0.00% 1.75%4647 Number 5 7448 % 8.77% 7.62%

General Characteristics

Assistance Characteristics

Program Characteristics

Other Characteristics

Total

Current

Delinquent (60+)

Delinquent (30+)

Delinquent (90+)

In Process

ArizonaHFA Performance Data Reporting- Program Performance

Principal Reduction Assistance

CumulativeQTDProgram Intake/Evaluation

Denied

Approved

Withdrawn



CumulativeQTDProgram Intake/Evaluation49

50Borrowers No Longer in the HHF Program (ProgramCompletion/Transition or Alternative Outcomes) 57 971

515253 Number 0 054 % 0.00% 0.00%5556 Number 0 057 % 0.00% 0.00%5859 Number 0 060 % 0.00% 0.00%6162 Number 0 063 % 0.00% 0.00%646566 Number 57 97167 % 100.00% 100.00%6869 Number N/A N/A70 % N/A N/A7172 Number 0 073 % 0.00% 0.00%7475 Number N/A N/A76 % N/A N/A7778 Number N/A N/A79 % N/A N/A8081 Number 0 082 % 0.00% 0.00%8384 Six Months Number N/A 83885 Six Months % N/A 100.00%86 Twelve Months Number N/A 68587 Twelve Months % N/A 100.00%88 Twenty-four Months Number N/A 14589 Twenty-four Months % N/A 100.00%90 Unreachable Number N/A 091 Unreachable % N/A 100.00%

1. Includes second mortgage settlement2. Borrower still owns home

Cancelled

Foreclosure Sale

Program Outcomes

Alternative Outcomes

Other - Borrower Still Owns Home

Homeownership Retention2

Deed in Lieu

Short Sale

Reinstatement/Current/Payoff

Short Sale

Deed in Lieu

Re-employed/ Regain Appropriate Employment Level

Loan Modification ProgramProgram Completion/ Transition




171819 Median 1st Lien Housing Payment Before Assistance 933 1,02420 Median 1st Lien Housing Payment After Assistance N/A N/A21 Median 2nd Lien Housing Payment Before Assistance 167 19122 Median 2nd Lien Housing Payment After Assistance 0 N/A23 Median 1st Lien UPB Before Program Entry 161,177 172,21324 Median 1st Lien UPB After Program Entry N/A N/A25 Median 2nd Lien UPB Before Program Entry 30,031 32,94826 Median 2nd Lien UPB After Program Entry 0 N/A27 Median Principal Forgiveness1 32,544 33,04328 Median Length of time Borrower Receives Assistance N/A N/A29 Median Assistance Amount 32,544 20,5593031 Assistance Provided to Date $400,187 $6,657,97932 Total Lender/Servicer Assistance Amount $0 $1,885,12933 Borrowers Receiving Lender/Servicer Match (%) 0.00% 43.59%34 Median Lender/Servicer Assistance per Borrower $0 $17,7743536 Median Length of Time from Initial Request to Assistance Granted 72 703738 Number 11 16539 % 68.75% 70.51%4041 Number 1 1342 % 6.25% 5.56%4344 Number 0 545 % 0.00% 2.14%4647 Number 4 5148 % 25.00% 21.79%

Cumulative

In Process

Delinquent (60+)

Delinquent (90+)

Current


Second Mortgage Assistance

Approved

Denied

Program Intake/EvaluationQTD

Withdrawn


Delinquent (30+)




Total

Cumulative




49





Deed in Lieu



Foreclosure Sale

Deed in Lieu

Short Sale

Program Completion/ Transition

Cancelled

Short Sale

Loan Modification Program


Program Outcomes





171819 Median 1st Lien Housing Payment Before Assistance 882 98120 Median 1st Lien Housing Payment After Assistance 520 27521 Median 2nd Lien Housing Payment Before Assistance 265 20022 Median 2nd Lien Housing Payment After Assistance N/A N/A23 Median 1st Lien UPB Before Program Entry 140412 14101324 Median 1st Lien UPB After Program Entry N/A N/A25 Median 2nd Lien UPB Before Program Entry 32834 3000026 Median 2nd Lien UPB After Program Entry N/A N/A27 Median Principal Forgiveness1 0 028 Median Length of time Borrower Receives Assistance N/A 1429 Median Assistance Amount 1821 105823031 Assistance Provided to Date $3,945,326 $35,641,22232 Total Lender/Servicer Assistance Amount N/A N/A33 Borrowers Receiving Lender/Servicer Match (%) N/A N/A34 Median Lender/Servicer Assistance per Borrower N/A N/A3536 Median Length of Time from Initial Request to Assistance Granted 71 593738 Number 9 44939 % 7.09% 16.65%4041 Number 12 23142 % 9.45% 8.57%4344 Number 13 33745 % 10.24% 12.50%4647 Number 93 167948 % 73.23% 62.28%49


Program CharacteristicsGeneral Characteristics

Withdrawn

Program Outcomes



Current

Total

Delinquent (60+)

Delinquent (90+)

In Process

Delinquent (30+)

Arizona

Unemployment/Underemployment/Reinstatement Mortgage Assistance ComponentHFA Performance Data Reporting- Program Performance

Cumulative

Denied


Approved

Arizona


CumulativeProgram Intake/Evaluation

QTD515253 Number 0 054 % 0.00% 0.00%5556 Number 5 7057 % 2.12% 4.64%5859 Number 0 060 % 0.00% 0.00%6162 Number 0 6163 % 0.00% 4.05%646566 Number 2 3467 % 0.85% 2.26%6869 Number 5 3770 % 2.12% 2.46%7172 Number 55 60073 % 23.31% 39.81%7475 Number N/A N/A76 % N/A N/A7778 Number N/A N/A79 % N/A N/A8081 Number 169 70582 % 71.61% 46.78%8384 Six Months Number N/A 254285 Six Months % N/A 99.88%86 Twelve Months Number N/A 223787 Twelve Months % N/A 98.55%88 Twenty-four Months Number N/A 148389 Twenty-four Months % N/A 97.95%90 Unreachable Number N/A 091 Unreachable % N/A 100.00%



Program Completion/ TransitionLoan Modification Program

Foreclosure Sale

Deed in Lieu

Deed in Lieu



Cancelled

Short Sale

Short Sale






171819 Median 1st Lien Housing Payment Before Assistance 1199 107920 Median 1st Lien Housing Payment After Assistance N/A N/A21 Median 2nd Lien Housing Payment Before Assistance 0 11722 Median 2nd Lien Housing Payment After Assistance N/A N/A23 Median 1st Lien UPB Before Program Entry 174588 16680024 Median 1st Lien UPB After Program Entry N/A N/A25 Median 2nd Lien UPB Before Program Entry 0 3477826 Median 2nd Lien UPB After Program Entry N/A N/A27 Median Principal Forgiveness1 N/A N/A28 Median Length of time Borrower Receives Assistance N/A N/A29 Median Assistance Amount 1750 45003031 Assistance Provided to Date 33638 67751932 Total Lender/Servicer Assistance Amount N/A N/A33 Lender/Servicer Match (%) N/A N/A34 Median Lender/Servicer Assistance per Borrower NA NA3536 Median Length of Time from Initial Request to Assistance Granted 186 1323738 Number 1 2839 % 20.00% 23.73%4041 Number 0 342 % 0.00% 2.54%4344 Number 1 745 % 20.00% 5.93%4647 Number 3 8048 % 60.00% 67.80%

Denied

Withdrawn

In Process


Total


Short Sale Component

QTD CumulativeProgram Intake/Evaluation

Approved



Current

Delinquent (30+)

Delinquent (60+)

Delinquent (90+)

49


515253 Number 0 054 % 0.00% 0.00%5556 Number 0 057 % 0.00% 0.00%5859 Number N/A N/A60 % N/A N/A6162 Number N/A N/A63 % N/A N/A646566 Number N/A N/A67 % N/A N/A6869 Number N/A N/A70 % N/A N/A7172 Number N/A N/A73 % N/A N/A7475 Number 5 11876 % 100.00% 100.00%7778 Number N/A N/A79 % N/A N/A8081 Number N/A N/A82 % N/A N/A8384 Six Months Number N/A N/A85 Six Months % N/A N/A86 Twelve Months Number N/A N/A87 Twelve Months % N/A N/A88 Twenty-four Months Number N/A N/A89 Twenty-four Months % N/A N/A90 Unreachable Number N/A N/A91 Unreachable % N/A N/A


Cancelled

Deed in Lieu

Foreclosure Sale

Short Sale

Program Outcomes






Short Sale

Deed in Lieu


Number of Unique Borrowers Receiving Assistance Total number of unique borrowers having received some form of assistance under any one of theHFA's programs. The number of borrowers represented in the other "Borrower Characteristics"fields should foot to this number.

Number of Unique Borrowers Denied Assistance Total number of unique borrowers not receiving assistance under any of the programs and notwithdrawn.

Number of Unique Borrowers Withdrawn from Program Total number of unique borrowers who do not receive assistance under any program because ofvoluntary withdrawal after approval or failure to complete application despite attempts by the HFA.

Number of Unique Borrowers in Process Total number of unique borrowers who have not been decisioned for any program and arepending review. This should be reported in the QTD column only.

Total Number of Unique Applicants Total number of unique borrowers. This should be the total of the four above fields (using theQTD column for in process borrowers).

Total Assistance Provided to Date Total amount of assistance disbursed on behalf of all borrowers.Total Spent on Administrative Support, Outreach, and Counseling Total amount spent on administrative expenses to support the program(s).

All Categories At the time of assistance, borrower's annual income ($) rounded to the nearest thousand.

All Categories At the time of assistance, borrower's annual income as a percentage of area median income.

All Categories Number of aggregate borrowers assisted in each county listed.

All Categories All totals for the aggregate number of borrowers assisted.







All Categories Market loan-to-value ratio calculated using the unpaid principal balance of the first mortgage at thetime of assistance divided by the most current valuation at the time of assistance.

All Categories Market combined loan-to-value ratio calculated using the unpaid principal balance for all first andjunior liens at the time of assistance divided by the most current valuation at the time of assistance.

All Categories Delinquency status at the time of assistance.

All Categories Household size at the time of assistance.

Number of Borrowers Receiving Assistance The total number of borrowers receiving assistance for the specific program.% of Total Number of Applications Total number of borrowers receiving assistance for the specific program divided by the total number

of borrowers who applied for the specific program.

Number of Borrowers Denied The total number of borrowers denied for assistance for the specific program. A denial is definedas a borrower who has provided the necessary information for consideration for programassistance, but is not approved for assistance under the specific program.

% of Total Number of Applications Total number of borrowers denied for assistance for the specific program divided by the totalnumber of borrowers who applied for the specific program.

Number of Borrowers Withdrawn The total number of borrowers withdrawn from the specific program. A withdrawal is defined as aborrower who was approved but never received funding, or a borrower who drops out of theprocess despite attempts by the HFA to complete application.

% of Total Number of Applications Total number of borrowers withdrawn for the specific program divided by the total number ofborrowers who applied for the specific program.

Number of Borrowers In Process The total number of borrowers who have applied for assistance from the specific program that havenot been decisioned and are pending review. This should be reported in the QTD column only.

% of Total Number of Applications Total number of borrowers who have applied for assistance from the specific program that have notbeen decisioned and are pending review divided by the total number of borrowers who applied forthe specific program.

Total Number of Borrowers Applied Total number of borrowers who applied for the specific program (approved, denied, withdrawn andQTD in process).

Number of Borrowers Participating in Other HFA HHF Programs orProgram Components

Number of borrowers participating in other HFA sponsored HHF programs or other HHF programcomponents (i.e. , funded borrowers only).

Median 1st Lien Housing Payment Before Assistance Median first lien housing payment paid by homeowner prior to receiving assistance. In otherwords, the median contractual borrower payment on their first lien before receiving assistance.

Data DictionaryHFA Performance Data Reporting - Borrower Characteristics

The Following Data Points Are To Be Reported In Aggregate For All Programs:Unique Borrower Count

Program Expenditures

Borrower Income


Geographic Breakdown (by County)

Home Mortgage Disclosure Act (HMDA)Borrower

Race

Ethnicity

Sex

Co-BorrowerRace

Ethnicity

Sex

Hardship




Household Size

HFA Performance Data Reporting - Program PerformanceThe Following Data Points Are To Be Reported In Aggregate For All Programs:

Program Intake/EvaluationApproved

Denied

Withdrawn

In Process

Total

Program Characteristics (For All Approved Applicants)General Characteristics

Median 1st Lien Housing Payment After Assistance Median first lien housing payment paid by homeowner after receiving assistance. In other words,the median contractual first lien payment less HFA contribution.

Median 2nd Lien Housing Payment Before Assistance Median second lien housing paymentpaid by homeowner prior to receiving assistance. In otherwords, the median contractual borrower payment on their second lien before receiving assistance.

Median 2nd Lien Housing Payment After Assistance Median second lien housing paymentpaid by homeowner after receiving assistance. In otherwords, the median contractual second lien payment less HFA contribution.

Median 1st Lien UPB Before Program Entry Median unpaid principal balance prior to receiving assistance.Median 1st Lien UPB After Program Entry Median unpaid principal balance after receiving assistance.Median 2nd Lien UPB Before Program Entry Median second lien unpaid principal balance prior to receiving assistance.Median 2nd Lien UPB After Program Entry Median second lien unpaid principal balance after receiving assistance.Median Principal Forgiveness Median amount of principal reduction provided, including the amount ($) provided by the HFA on

behalf of the borrower and the amount ($) provided by the lender/servicer, including second lienextinguishment. Extinguished fees should only be included if those fees have been capitalized.

Median Length of Time Borrower Receives Assistance Median length of time borrowers receive on-going assistance (e.g ., mortgage payment assistanceprograms). Please report in months (round up to closest integer). This only need be reported inthe cumulative column.

Median Assistance Amount Median amount of assistance ($) disbursed to the lender/servicer on behalf of the borrower.

Assistance Provided Total amount of aggregate assistance provided by the HFA (does not include lender matchingassistance or borrower partial payments).

Total Lender/Servicer Assistance Amount Total amount of aggregate assistance provided by the lenders/servicers (does not include HFAassistance). Waived servicing fees and/or forbearance does not count towards lender/servicerassistance.

Borrowers Receiving Lender/Servicer Match (%) Number of borrowers receiving lender/servicer match divided by the total number of assistedborrowers.

Median Lender/Servicer Assistance per Borrower Median lender/servicer matching amount (for borrowers receiving match assistance).

Median Length of Time from Initial Request to Assistance Granted Median length of time from initial contact with borrower to assistance provided. Please report indays (round up to closest integer).

Number Number of borrowers current at the time assistance is received.% Number of current borrowers divided by the total number of approved applicants.

Number Number of borrowers 30+ days delinquent but less than 60 days delinquent at the time assistanceis received.

% Number of borrowers 30+ days delinquent but less than 60 days delinquent divided by the totalnumber of approved applicants.



Number Number of borrowers 90+ days delinquent at the time assistance is received.% Number of borrowers 90+ days delinquent divided by the total number of approved applicants.

Borrowers No Longer in the HHF Program (ProgramCompletion/Transition or Alternative Outcome)

Number of borrowers no longer receiving assistance under this program.

Number Number of borrowers transitioned out of the HHF program into a foreclosure sale as an alternativeoutcome of the program.

% Number of foreclosed borrowers divided by the total number of borrowers no longer receivingassistance under this program.

Number Number of borrowers who were approved and funded , then were disqualified or voluntarilywithdrew from the program without re-employment or other intended transition.

% Number of cancelled borrowers divided by the total number of borrowers no longer receivingassistance under this program.

Number Number of borrowers transitioned out of the HHF program into a deed-in-lieu as an alternativeoutcome of the program.

% Number of borrowers who transitioned from their homes via a deed-in-lieu divided by the totalnumber of borrowers no longer receiving assistance under this program.

Number Number of borrowers that transitioned out of the HHF program into a short sale without assistancefrom the program.

% Number of borrowers who transitioned from their homes via a short sale divided by the total numberof borrowers no longer receiving assistance under this program.

Number Number of borrowers who transitioned into a loan modification program (such as the Making HomeAffordable Program) from PRA, SMS or UMA program components. Note: Does not include SMSassistance used in conjunction with a Short Sale% Number of borrowers who transitioned into a loan modification program divided by the total numberof borrowers no longer receiving assistance under this program.

Number Number borrowers who transitioned out of the UMA program component due to regainingemployment and/or appropriate levels of employment.

% Number of re-employed/appropriately employed borrowers divided by the total number of borrowersno longer receiving assistance under this program.

Number Number borrowers that transitioned out of the program component due to reinstating/bringing loancurrent or paying off their mortgage loan.

% Number of reinstated/current/paid off borrowers divided by the total number of borrowers no longerreceiving assistance under this program.

Number Number of borrowers who transitioned out of the program into a short sale with program assistanceas the desired outcome of the program .



Current

Delinquent (30+)

Delinquent (60+)

Delinquent (90+)

Program Outcomes

Alternative OutcomesForeclosure Sale

Cancelled

Deed-in-Lieu

Short Sale




Short Sale

% Number of borrowers who transitioned from their homes via a short sale as the desired outcome ofthe program divided by the total number of borrowers no longer receiving assistance under thisprogram.

Number Not Applicable

% Not Applicable

Number Number of borrowers who transitioned out of the program not falling into one of the transitioncategories above, but still maintaining ownership of the home.

% Number of transitioned borrowers in this category divided by the total number of borrowers nolonger receiving assistance under this program.

Six Months Number of borrowers assisted by the program who retain ownership at least 6 months after receiptof initial assistance, including borrowers who retain their home for more than 6 months but lessthan 12 months. (Note: Borrowers in the 12-month and 24-month counts should also be included inthe 6-month count, as the two intervals are not mutually exclusive.)

% Number of borrowers assisted by the program who retain ownership at least 6 months after receiptof initial assistance divided by the total number of households assisted by the program 6 monthsprior to reporting period.

Twelve Months Number of borrowers assisted by the program who retain ownership at least 12 months afterreceipt of initial assistance, including borrowers who retain their home for more than 12 months butless than 24 months. (Note: Borrowers in the 24-month count should also be included in the 6-month and 12-month counts, as the two intervals are not mutually exclusive.)

% Number of borrowers assisted by the program who retain ownership at least 12 months afterreceipt of initial assistance divided by the total number of households assisted by the program 12months prior to reporting period.

Twenty-four Months Number of borrowers assisted by the program who retain ownership at least 24 months afterreceipt of initial assistance. Borrowers who retain their home for 24 months should be included inthe 6-month, 12-month, and 24-month counts.


Unreachable Number of borrowers assisted by the program for whom homeownership retention status cannot beverified by any available means.

% Number of borrowers assisted by the program for whom homeownership retention status cannot beverified by any available means divided by the total number of borrowers assisted.

Approved/Funded Number of Structures Number of aggregate structures funded in each city or county listed.

(Mortgage payment assistance program name) UMA Program provides monthly mortgage payment assistance on behalf of non-delinquent homeownerswho are unable to afford their monthly payment due to a qualified financial hardship.

(Reinstatement assistance program name) UMA (RAC) Program provides assistance to reinstate a delinquent mortgage on behalf of a homeowner whobecame delinquent due to a qualified financial hardship.

(Principal reduction/modification assistance program name) PRA Program provides principal reduction assistance in conjunction with a loan modification,reamortization (recast), or refinance to reduce a homeowner's monthly payment; assistance may beapplied as curtailment when the homeowner is in a severe negative equity position.

(Second mortgage/lien elimination assistance program name) SMS Program provides assistance to reduce or eliminate a second mortgage or lien to create anaffordable payment. (Or facilitate a short sale)

(Transition assistance/short sale program name) SSA Program provides assistance to facilitate a short sale or deed-in-lieu and/or relocation/transitionassistance to a homeowner transitioning from the home via a short sale or deed-in-lieu.

Deed-in-Lieu


Homeownership Retention

Geographic Breakdown (by City/County)

HFA Performance Data Reporting - Program Notes


Save Our Home AZ Quarterly Performance Summary for period ending June 30, 2015 I Page 1



DATE: August 15, 2015

RE: Hardest Hit Fund Quarterly Performance Datafor the period ending June 30, 2015

Arizona is pleased to provide its Quarterly Performance Data Report for the period ending June 30,2015. The attached report provides the data sets required by the U.S. Department of the Treasury(“Treasury”). To provide further context for the figures reported in the Treasury report, we are alsoproviding this introductory summary as a supplement to enhance the reviewer’s understanding ofArizona’s Hardest Hit Fund program, Save Our Home AZ.

The Save Our Home AZ Program is administered by the Arizona Department of Housing on behalf of theArizona Home Foreclosure Prevention Funding Corporation (AHFPFC). Funds for the Program come fromthe U.S. Department of the Treasury, Housing Finance Agency Innovation Fund for the Hardest-HitHousing Markets. The Program provides assistance to eligible Arizona homeowners in the form ofPrincipal Reduction Assistance, Unemployment/Under-employment Mortgage Assistance,Reinstatement of delinquent payments, Second Lien Elimination, and Short Sale Assistance.



0

500

1000

1500

2000

2500

3000

3500

4000

4500

1Q2011

2Q2011

3Q2011

4Q2011

1Q2012

2Q2012

3Q2012

4Q2012

1Q2013

2Q2013

3Q2013

4Q2013

1Q2014

2Q2014

3Q2014

4Q2014

1Q2015

2Q2015

Program EnhancementsDuring this quarter Arizona amended its program agreement with the U.S. Department of the Treasuryto allow for reinstatement of junior liens. When the program was first designed most Borrowers seekingassistance were significantly underwater and a junior lien was generally not thought to be worth thepaper on which it was printed. For this reason Arizona’s program was designed to offer a reduced payoffunder the Second Mortgage Settlement component. Under some conditions this scenario still works, butArizona is finding that it is increasingly unable to assist some Borrowers due to the fact that the state’sreal estate market is strengthening in some areas with home values increasing, so that lenders are nolonger interested in settling their interests in junior liens and in fact, in some instances, may beinterested in foreclosing despite a junior position. This change now allows the program to assist anumber of homeowners who could not be provided with relief otherwise.

At the time of this report, Arizona is also contemplating a proposal to introduce a homebuyer assistancecomponent to its program, which would incentivize home purchases within Arizona’s hardest hitcommunities.

Arizona continues to evaluate its programs in order to provide every opportunity for adjustments thatwill enable the funds to be utilized to assist eligible households.

Direct mail and advertising on news web pages has proven to be one of the most effective marketing tools for the program.

Household Assistance Levels IncreaseDuring the second quarter of 2015, 163 new households were approved to receive assistance. Fromprogram inception through this period, a total of 3,899 households received assistance.

Households Assisted



Assistance Commitments by Component

The Save Our Home AZ program provides assistance under several components: Principal ReductionAssistance, Second Mortgage Settlement Assistance, Un/Underemployment/Reinstatement MortgageAssistance, and Short Sale Assistance. The chart below shows the breakdown of assistance in thesevarious components.





100,782,837 62,929,840.753



Total Budget $ 267,766,006 $ 145,000,760.53

NotesAs of June 30, 2015:1Of the $55.4 million that has been committed for Principal Reduction Assistance, $1.8 million of that amount remained inescrow awaiting the closing of the assistance.2Of the $7.8 million committed for Second Mortgage Settlements, $465K of that amount remained in escrow awaiting theclosing of the assistance.3Of the $62.9 million that has been committed for Un/Underemployment/Reinstatement Mortgage Assistance, $23.7 millionremains held in escrow to be disbursed for further, future monthly payments for participating homeowners.4Of the $686K that has been committed for Short Sale Assistance, all has been disbursed for assistance.5Of the $18.1 million spent on administrative expenses, $9.1 million was spent on outreach and counselor services forapplicants.

Under/Unemployment

Mortgage Assistance,$62,929,841











100,782,837 62,929,840.753



Total Budget $ 267,766,006 $ 145,000,760.53



$55,424,021












100,782,837 62,929,840.753



Total Budget $ 267,766,006 $ 145,000,760.53



$55,424,021









38%


HHF Budget

Under/UnemploymentMortgage Assistance

44%







ProgramCommitments

88%


Counselor Costs6%



45%


3%


38%



13%


38%


5%Under/UnemploymentMortgage Assistance

44%


Counseling Costs6%

HHF Usage to date






45%


5%

HHF Usage to date



Template Version Date: July 2015

12 Number of Unique Borrowers Receiving Assistance 163 38913 Number of Unique Borrowers Denied Assistance 296 110074 Number of Unique Borrowers Withdrawn from Program 35 10685 Number of Unique Borrowers in Process 190 N/A6 Total Number of Unique Borrower Applicants 684 1615678 Total Assistance Provided to Date $7,019,924 $100,527,3229 Total Spent on Administrative Support, Outreach, and Counseling $1,042,018 $18,147,435

1011 Above $90,000 3.07% 2.90%12 $70,000- $89,000 8.59% 6.07%13 $50,000- $69,000 18.40% 13.44%14 Below $50,000 69.94% 77.59%1516 Above 120% 3.07% 5.40%17 110%- 119% 0.00% 1.75%18 100%- 109% 0.61% 2.52%19 90%- 99% 9.82% 5.04%20 80%- 89% 7.36% 4.88%21 Below 80% 79.14% 80.65%2223 Maricopa County 73 221124 Pima County 47 87525 Pinal County 13 27426 Balance of State 30 53127282930 American Indian or Alaskan Native 3 4631 Asian 1 6732 Black or African American 11 25033 Native Hawaiian or other Pacific Islander 1 1934 White 117 257635 Information Not Provided by Borrower 30 9333637 Hispanic or Latino 66 113638 Not Hispanic or Latino 89 228339 Information Not Provided by Borrower 8 4724041 Male 85 184742 Female 70 167943 Information Not Provided by Borrower 8 365444546 American Indian or Alaskan Native 2 1147 Asian 1 2248 Black or African American 5 5049 Native Hawaiian or other Pacific Islander 0 450 White 39 71151 Information Not Provided by Borrower 11 3505253 Hispanic or Latino 24 32354 Not Hispanic or Latino 31 68155 Information Not Provided by Borrower 3 1445657 Male 10 29358 Female 40 68959 Information Not Provided by Borrower 8 166

Borrower

Ethnicity

Race

Program Expenditures ($)

Borrower Income ($)

CumulativeQTD

Sex

Ethnicity

Sex

Race



Geographic Breakdown (by county)

Home Mortgage Disclosure Act (HMDA)

Co-Borrower

Unique Borrower Count

CumulativeQTD


Unique Borrower Count6061 Unemployment 79 221362 Underemployment 33 66663 Divorce 4 5964 Medical Condition 8 18065 Death 0 2166 Other 39 7526768 <100% 45.40% 32.38%69 100%-109% 12.27% 8.28%70 110%-120% 5.52% 8.84%71 >120% 36.81% 50.50%7273 <100% 36.59% 20.69%74 100%-119% 4.88% 15.42%75 120%-139% 31.71% 20.42%76 140%-159% 12.20% 13.18%77 >=160% 14.63% 30.30%7879 Current 44.17% 30.15%80 30+ 8.59% 7.35%81 60+ 7.98% 6.63%82 90+ 39.26% 55.87%8384 1 38 115185 2 48 98686 3 26 60987 4 26 57988 5+ 25 566

Line 1



Hardship


Since applications marked as denied or withdrawn in previous quarters may be reconsidered due to a change in borrowercircumstances, some unique borrower counts may not sum in a quarter-over-quarter fashion.

Household Size




171819 Median 1st Lien Housing Payment Before Assistance 987 1,05220 Median 1st Lien Housing Payment After Assistance 804 79321 Median 2nd Lien Housing Payment Before Assistance 129 18522 Median 2nd Lien Housing Payment After Assistance N/A N/A23 Median 1st Lien UPB Before Program Entry 168,872 167,15924 Median 1st Lien UPB After Program Entry 122,847 122,80025 Median 2nd Lien UPB Before Program Entry 32,344 31,09126 Median 2nd Lien UPB After Program Entry N/A N/A27 Median Principal Forgiveness 43,056 43,96728 Median Length of time Borrower Receives Assistance N/A N/A29 Median Assistance Amount 44,468 44,3693031 Assistance Provided to Date $3,029,406 $53,560,08532 Total Lender/Servicer Assistance Amount $50,325 $2,205,44933 Borrowers Receiving Lender/Servicer Match (%) 3.33% 7.37%34 Median Lender/Servicer Assistance per Borrower $25,162 $20,7983536 Median Length of Time from Initial Request to Assistance Granted 70 493738 Number 55 90539 % 91.67% 87.78%4041 Number 2 3242 % 3.33% 3.10%4344 Number 3 2045 % 5.00% 1.94%4647 Number 0 7448 % 0.00% 7.18%

In Process




Denied

Approved

Withdrawn

Delinquent (60+)

Delinquent (30+)

Delinquent (90+)





Total

Current








Deed in Lieu

Short Sale


Short Sale

Deed in Lieu



Cancelled

Foreclosure Sale

Program Outcomes





171819 Median 1st Lien Housing Payment Before Assistance 846 1,02020 Median 1st Lien Housing Payment After Assistance N/A N/A21 Median 2nd Lien Housing Payment Before Assistance 129 18822 Median 2nd Lien Housing Payment After Assistance 0 023 Median 1st Lien UPB Before Program Entry 174,708 172,38124 Median 1st Lien UPB After Program Entry N/A N/A25 Median 2nd Lien UPB Before Program Entry 29,604 32,72526 Median 2nd Lien UPB After Program Entry 0 027 Median Principal Forgiveness1 29,604 32,81128 Median Length of time Borrower Receives Assistance N/A N/A29 Median Assistance Amount 29,604 22,7643031 Assistance Provided to Date $689,082 $7,347,06132 Total Lender/Servicer Assistance Amount $0 $1,885,12933 Borrowers Receiving Lender/Servicer Match (%) 0.00% 40.64%34 Median Lender/Servicer Assistance per Borrower $0 $17,7743536 Median Length of Time from Initial Request to Assistance Granted 91 703738 Number 16 18139 % 94.12% 72.11%4041 Number 1 1442 % 5.88% 5.58%4344 Number 0 545 % 0.00% 1.99%4647 Number 0 5148 % 0.00% 20.32%

Withdrawn


Delinquent (30+)




Total



Approved

Denied


In Process

Delinquent (60+)

Delinquent (90+)

Current

Cumulative



Program Intake/EvaluationQTD Cumulative

49



Short Sale



Program Outcomes



Deed in Lieu



Foreclosure Sale

Deed in Lieu

Short Sale


Cancelled




171819 Median 1st Lien Housing Payment Before Assistance 920 97920 Median 1st Lien Housing Payment After Assistance 558 26621 Median 2nd Lien Housing Payment Before Assistance 85 10722 Median 2nd Lien Housing Payment After Assistance N/A N/A23 Median 1st Lien UPB Before Program Entry 136330 14096024 Median 1st Lien UPB After Program Entry N/A N/A25 Median 2nd Lien UPB Before Program Entry 31682 3283426 Median 2nd Lien UPB After Program Entry N/A N/A27 Median Principal Forgiveness 0 028 Median Length of time Borrower Receives Assistance N/A 1429 Median Assistance Amount 1890 109533031 Assistance Provided to Date $3,292,338 $38,933,55932 Total Lender/Servicer Assistance Amount N/A N/A33 Borrowers Receiving Lender/Servicer Match (%) N/A N/A34 Median Lender/Servicer Assistance per Borrower N/A N/A3536 Median Length of Time from Initial Request to Assistance Granted 73 593738 Number 20 46939 % 18.69% 16.73%4041 Number 12 24342 % 11.21% 8.67%4344 Number 13 35045 % 12.15% 12.49%4647 Number 62 174148 % 57.94% 62.11%

Arizona


Cumulative

Denied


Approved

Withdrawn



Current

Total

Delinquent (60+)

Delinquent (90+)

In Process

Delinquent (30+)


Arizona



QTD49


515253 Number 0 054 % 0.00% 0.00%5556 Number 10 8057 % 4.61% 4.64%5859 Number 0 060 % 0.00% 0.00%6162 Number 0 6163 % 0.00% 3.54%646566 Number 0 3467 % 0.00% 1.97%6869 Number 0 3770 % 0.00% 2.15%7172 Number 62 66273 % 28.57% 38.40%7475 Number N/A N/A76 % N/A N/A7778 Number N/A N/A79 % N/A N/A8081 Number 145 85082 % 66.82% 49.30%8384 Six Months Number N/A 262285 Six Months % N/A 99.89%86 Twelve Months Number N/A 233187 Twelve Months % N/A 98.60%88 Twenty-four Months Number N/A 162089 Twenty-four Months % N/A 98.12%90 Unreachable Number N/A 091 Unreachable % N/A 100.00%

Program Outcomes


Cancelled

Short Sale

Short Sale





Foreclosure Sale

Deed in Lieu

Deed in Lieu





171819 Median 1st Lien Housing Payment Before Assistance 979 107920 Median 1st Lien Housing Payment After Assistance N/A N/A21 Median 2nd Lien Housing Payment Before Assistance 0 11722 Median 2nd Lien Housing Payment After Assistance N/A N/A23 Median 1st Lien UPB Before Program Entry 168456 16680024 Median 1st Lien UPB After Program Entry N/A N/A25 Median 2nd Lien UPB Before Program Entry 5000 3474326 Median 2nd Lien UPB After Program Entry N/A N/A27 Median Principal Forgiveness N/A N/A28 Median Length of time Borrower Receives Assistance N/A N/A29 Median Assistance Amount 1500 45003031 Assistance Provided to Date 9098 68661732 Total Lender/Servicer Assistance Amount N/A N/A33 Lender/Servicer Match (%) N/A N/A34 Median Lender/Servicer Assistance per Borrower NA NA3536 Median Length of Time from Initial Request to Assistance Granted 84 1323738 Number 1 2939 % 50.00% 24.17%4041 Number 0 342 % 0.00% 2.50%4344 Number 0 745 % 0.00% 5.83%4647 Number 1 8148 % 50.00% 67.50%

Approved



Current

Delinquent (30+)

Delinquent (60+)

Delinquent (90+)




Denied

Withdrawn

In Process


Total

49







Short Sale

Deed in Lieu


Short Sale

Program Outcomes


Cancelled

Deed in Lieu

Foreclosure Sale






Total Assistance Provided to Date Total amount of assistance disbursed on behalf of all borrowers.Total Spent on Administrative Support, Outreach, and Counseling Total amount spent on administrative expenses to support the program(s).





























Borrower Income




Race

Ethnicity

Sex

Co-BorrowerRace

Ethnicity

Sex

Hardship




Household Size



Denied

Withdrawn

In Process

Total






























Number Number of borrowers who transitioned into a loan modification program (such as the Making HomeAffordable Program) from PRA, SMS or UMA program components. Note: Does not include SMSassistance used in conjunction with a Short Sale% Number of borrowers who transitioned into a loan modification program divided by the total numberof borrowers no longer receiving assistance under this program.







Current

Delinquent (30+)


Delinquent (60+)

Delinquent (90+)

Program Outcomes


Cancelled

Deed-in-Lieu

Short Sale







% Not Applicable











Unemployment/Underemployment/Reinstatement Mortgage Assistance(UMA)

Program provides monthly mortgage payment assistance on behalf of non-delinquent homeownerswho are unable to afford their monthly payment due to a qualified financial hardship. Program alsoprovides assistance to reinstate a delinquent mortgage on behalf of a homeowner who becamedelinquent due to a qualified financial hardship.

Principal Reduction Assistance (PRA) Program provides principal reduction assistance in conjunction with a loan modification,reamortization (recast), or refinance to reduce a homeowner's monthly payment; assistance may beapplied as curtailment when the homeowner is in a severe negative equity position.

Second Mortgage Assistance (SMA) Program provides assistance to reduce or eliminate a second mortgage or lien to create anaffordable payment. (Or facilitate a short sale)

Short Sale Assistance (SSA) Program provides assistance to facilitate a short sale or deed-in-lieu and/or relocation/transitionassistance to a homeowner transitioning from the home via a short sale or deed-in-lieu.

Short Sale

Deed-in-Lieu





Save Our Home AZ Quarterly Performance Summary for period ending September 30, 2015 I Page 1



DATE: November 15, 2015

RE: Hardest Hit Fund Quarterly Performance Datafor the period ending September 30, 2015

Arizona is pleased to provide its Quarterly Performance Data Report for the period ending September30, 2015. The attached report provides the data sets required by the U.S. Department of the Treasury(“Treasury”). To provide further context for the figures reported in the Treasury report, we are alsoproviding this introductory summary as a supplement to enhance the reviewer’s understanding ofArizona’s Hardest Hit Fund program, Save Our Home AZ.

The Save Our Home AZ Program is administered by the Arizona Department of Housing on behalf of theArizona Home Foreclosure Prevention Funding Corporation (AHFPFC). Funds for the Program come fromthe U.S. Department of the Treasury, Housing Finance Agency Innovation Fund for the Hardest-HitHousing Markets. The Program provides assistance to eligible Arizona homeowners in the form ofPrincipal Reduction Assistance, Unemployment/Under-employment Mortgage Assistance,Reinstatement of delinquent payments, Second Lien Elimination, and Short Sale Assistance.



Program EnhancementsAs the foreclosure crises in Arizona has abated, the current program assistance programs have all seendeclines in both the number of households seeking assistance and the assistance amountsrecommended for those who do seek assistance. That being the case as this quarter drew to a close, theProgram began to pull together plans to request authorization from Treasury to introduce a newcomponent to Arizona’s program that would provide down payment and closing cost assistance tohomebuyers in some of Arizona’s hardest hit communities. The purpose of this program would be toaddress economic drags within certain geographical areas that are not recovering at the same rate asother areas of the state when compared to statewide statistics. Distress signals that were consideredincluded: changes in sales price from one year ago, REO sales rate, short sales rate, average loan tovalue ratio, and the foreclosure rate. The Program identified 29 cities within the state as proposedtarget areas, where homebuyer assistance of 10 percent of a home’s purchase price (up to a maximumof $20,000) could be provided to qualified homebuyers. Purchase assistance would be made availablethrough the Arizona Housing Finance Authority’s HOME Plus Home Loan Program. By providing suchassistance, the Program would hope to incentivize purchases within cities of the state that are stillexperiencing economic setbacks brought on by the foreclosure and economic crises in order to effect amore timely recovery for the entire state.

Direct mail and advertising on news web pages has proven to be one of the most effective marketing tools for the program.

Household Assistance Levels IncreaseDuring the third quarter of 2015, 169 new households were approved to receive assistance. Fromprogram inception through this period, a total of 4,068 households received assistance.

Households Assisted

0

500

1000

1500

2000

2500

3000

3500

4000

4500

1Q2011

2Q2011

3Q2011

4Q2011

1Q2012

2Q2012

3Q2012

4Q2012

1Q2013

2Q2013

3Q2013

4Q2013

1Q2014

2Q2014

3Q2014

4Q2014

1Q2015

2Q2015

3Q2015









100,782,837 64,872,199.193

Short Sale Assistance 3,336,695 752,536,084


Total Budget $ 267,766,006 $ 152,879,327.84

NotesAs of September 30, 2015:1Of the $59.9 million that has been committed for Principal Reduction Assistance, $2.5 million of that amount remained inescrow awaiting the closing of the assistance.2Of the $8.1 million committed for Second Mortgage Settlements, $481K of that amount remained in escrow awaiting theclosing of the assistance.3Of the $64.8 million that has been committed for Un/Underemployment/Reinstatement Mortgage Assistance, $22.2 millionremains held in escrow to be disbursed for further, future monthly payments for participating homeowners.4Of the $752K that has been committed for Short Sale Assistance, all has been disbursed for assistance.5Of the $19.1 million spent on administrative expenses, $9.7 million was spent on outreach and counselor services forapplicants.

Under/Unemployment

Mortgage Assistance,$64,872,199.19











100,782,837 64,872,199.193



Total Budget $ 267,766,006 $ 152,879,327.84



$59,942,805












100,782,837 64,872,199.193



Total Budget $ 267,766,006 $ 152,879,327.84



$59,942,805









38%


HHF Budget


43%







ProgramCommitments

88%


Counselor Costs6%



45%


3%


38%



13%


39%


43%


Counseling Costs6%

HHF Usage to date






45%


39%Second Mortgage

Settlements5%

HHF Usage to date



Template Version Date: October 2015

1 Unique Borrower Count2 Number of Unique Borrowers Receiving Assistance 174 40653 Number of Unique Borrowers Denied Assistance 360 113674 Number of Unique Borrowers Withdrawn from Program 20 10885 Number of Unique Borrowers in Process 287 N/A6 Total Number of Unique Borrower Applicants 841 168077 Program Expenditures ($)8 Total Assistance Provided to Date $7,820,291 $108,347,6139 Total Spent on Administrative Support, Outreach, and Counseling $1,005,218 $19,152,653

10 Borrower Income ($)11 Above $90,000 1.72% 2.85%12 $70,000- $89,000 8.62% 6.17%13 $50,000- $69,000 23.56% 13.87%14 Below $50,000 66.09% 77.10%15 Borrower Income as Percent of Area Median Income (AMI)16 Above 120% 0.57% 5.19%17 110%- 119% 0.00% 1.67%18 100%- 109% 0.57% 2.21%19 90%- 99% 10.92% 5.29%20 80%- 89% 6.32% 4.94%21 Below 80% 81.61% 80.69%22 Geographic Breakdown (by county)23 Maricopa County 81 229224 Pima County 54 92925 Pinal County 16 29026 Balance of State 23 55427 Home Mortgage Disclosure Act (HMDA)28 Borrower29 Race30 American Indian or Alaskan Native 0 4631 Asian 1 6832 Black or African American 15 26533 Native Hawaiian or other Pacific Islander 3 2234 White 119 269535 Information Not Provided by Borrower 36 96936 Ethnicity37 Hispanic or Latino 56 119238 Not Hispanic or Latino 104 238739 Information Not Provided by Borrower 14 48640 Sex41 Male 80 192742 Female 73 175243 Information Not Provided by Borrower 21 38644 Co-Borrower45 Race46 American Indian or Alaskan Native 0 1147 Asian 0 2248 Black or African American 2 5449 Native Hawaiian or other Pacific Islander 1 650 White 37 78551 Information Not Provided by Borrower 17 38452 Ethnicity53 Hispanic or Latino 15 33854 Not Hispanic or Latino 32 71355 Information Not Provided by Borrower 10 15456 Sex57 Male 10 30358 Female 33 72259 Information Not Provided by Borrower 14 180

CumulativeQTD


CumulativeQTD


60 Hardship61 Unemployment 86 229962 Underemployment 35 70163 Divorce 3 6264 Medical Condition 15 19565 Death 0 2166 Other 35 78767 Current Loan to Value Ratio (LTV)68 <100% 46.55% 32.99%69 100%-109% 6.90% 8.22%70 110%-120% 14.37% 9.08%71 >120% 32.18% 49.72%72 Current Combined Loan to Value Ratio (CLTV)73 <100% 5.71% 20.03%74 100%-119% 25.71% 15.87%75 120%-139% 40.00% 21.28%76 140%-159% 20.00% 13.48%77 >=160% 8.57% 29.35%78 Delinquency Status (%)79 Current 43.68% 30.73%80 30+ 10.34% 7.48%81 60+ 8.62% 6.72%82 90+ 37.36% 55.08%83 Household Size84 1 53 120485 2 48 103486 3 24 63387 4 25 60488 5+ 24 590

Line 1: Since applications marked as denied or withdrawn in previous quarters may be reconsidered due to a change in borrower circumstances,some unique borrower counts may not sum in a quarter-over-quarter fashion.




171819 Median 1st Lien Housing Payment Before Assistance 1,053 1,05220 Median 1st Lien Housing Payment After Assistance 790 79321 Median 2nd Lien Housing Payment Before Assistance 215 18622 Median 2nd Lien Housing Payment After Assistance N/A N/A23 Median 1st Lien UPB Before Program Entry 157,506 167,00424 Median 1st Lien UPB After Program Entry 119,956 122,79225 Median 2nd Lien UPB Before Program Entry 29,321 31,09126 Median 2nd Lien UPB After Program Entry N/A N/A27 Median Principal Forgiveness 43,797 44,16528 Median Length of time Borrower Receives Assistance N/A N/A29 Median Assistance Amount 43,098 43,9103031 Assistance Provided to Date $3,788,567 $57,348,65132 Total Lender/Servicer Assistance Amount $30,004 $2,235,45333 Borrowers Receiving Lender/Servicer Match (%) 1.39% 6.98%34 Median Lender/Servicer Assistance per Borrower $30,004 $20,7983536 Median Length of Time from Initial Request to Assistance Granted 61 493738 Number 57 96239 % 79.17% 87.22%4041 Number 3 3542 % 4.17% 3.17%4344 Number 2 2245 % 2.78% 1.99%4647 Number 10 8448 % 13.89% 7.62%





Total

Current

Delinquent (60+)

Delinquent (30+)

Delinquent (90+)

In Process




Denied

Approved

Withdrawn






Cancelled

Foreclosure Sale

Program Outcomes




Deed in Lieu

Short Sale


Short Sale

Deed in Lieu






171819 Median 1st Lien Housing Payment Before Assistance 904 1,01920 Median 1st Lien Housing Payment After Assistance N/A N/A21 Median 2nd Lien Housing Payment Before Assistance 276 19122 Median 2nd Lien Housing Payment After Assistance 0 023 Median 1st Lien UPB Before Program Entry 150,361 171,33124 Median 1st Lien UPB After Program Entry N/A N/A25 Median 2nd Lien UPB Before Program Entry 30,695 32,20626 Median 2nd Lien UPB After Program Entry 0 027 Median Principal Forgiveness 26,764 32,53528 Median Length of time Borrower Receives Assistance N/A N/A29 Median Assistance Amount 26,764 32,5353031 Assistance Provided to Date $330,788 $7,677,84932 Total Lender/Servicer Assistance Amount $0 $1,885,12933 Borrowers Receiving Lender/Servicer Match (%) 0.00% 39.23%34 Median Lender/Servicer Assistance per Borrower $0 $17,7743536 Median Length of Time from Initial Request to Assistance Granted 106 713738 Number 6 18739 % 66.67% 71.92%4041 Number 0 1442 % 0.00% 5.38%4344 Number 0 545 % 0.00% 1.92%4647 Number 3 5448 % 33.33% 20.77%

Cumulative

In Process

Delinquent (60+)

Delinquent (90+)

Current



Approved

Denied


Withdrawn


Delinquent (30+)




Total

Cumulative




49




Deed in Lieu



Foreclosure Sale

Deed in Lieu

Short Sale


Cancelled

Short Sale



Program Outcomes







Withdrawn



Current

Total

Delinquent (60+)

Delinquent (90+)

In Process

Delinquent (30+)

Arizona


Cumulative

Denied


Approved

Arizona



QTD49





Foreclosure Sale

Deed in Lieu

Deed in Lieu



Cancelled

Short Sale

Short Sale



Program Outcomes





Denied

Withdrawn

In Process


Total




Approved



Current

Delinquent (30+)

Delinquent (60+)

Delinquent (90+)

49



Cancelled

Deed in Lieu

Foreclosure Sale

Short Sale

Program Outcomes






Short Sale

Deed in Lieu







Total Assistance Provided to Date Total amount of assistance disbursed by the HFA across all programs.Total Spent on Administrative Support, Outreach, and Counseling Total amount spent on administrative expenses to support the program(s).



























Denied

Withdrawn

In Process

Total




Household Size


Sex

Co-BorrowerRace

Ethnicity

Sex

Hardship




Race

Ethnicity




Borrower Income






























Number Number of borrowers who transitioned into a loan modification program (such as the Making HomeAffordable Program) from PRA, SMS or UMA program components. Note: Does not include SMSassistance used in conjunction with a Short Sale

% Number of borrowers who transitioned into a loan modification program divided by the total numberof borrowers no longer receiving assistance under this program.



Deed-in-Lieu

Short Sale




Delinquent (60+)

Delinquent (90+)

Program Outcomes


Cancelled




Current

Delinquent (30+)






% Not Applicable
















Short Sale

Deed-in-Lieu





Save Our Home AZ Quarterly Performance Summary for period ending December 31, 2015 I Page 1



DATE: February 15, 2016

RE: Hardest Hit Fund Quarterly Performance Datafor the period ending December 31, 2015

Arizona is pleased to provide its Quarterly Performance Data Report for the period ending December 31,2015. The attached report provides the data sets required by the U.S. Department of the Treasury(“Treasury”). To provide further context for the figures reported in the Treasury report, we are alsoproviding this introductory summary as a supplement to enhance the reviewer’s understanding ofArizona’s Hardest Hit Fund program, Save Our Home AZ.

The Save Our Home AZ Program is administered by the Arizona Department of Housing on behalf of theArizona Home Foreclosure Prevention Funding Corporation (AHFPFC). Funds for the Program come fromthe U.S. Department of the Treasury, Housing Finance Agency Innovation Fund for the Hardest-HitHousing Markets. The Program provides assistance to eligible Arizona homeowners in the form ofPrincipal Reduction Assistance, Unemployment/Under-employment Mortgage Assistance, Reinstatementof delinquent payments, Second Lien Elimination, Short Sale Assistance, and beginning in March 2016Down Payment Assistance for new homebuyers.



Program Enhancements – New Down Payment Assistance Program IntroducedAs the foreclosure crises in Arizona abates, the current assistance programs have all seen declines in boththe number of households seeking assistance and the assistance amounts recommended for those whodo seek assistance. Additionally, many homeowners who received commitments for Under/Unemployment Mortgage Assistance have been able to more quickly exit from receiving monthlymortgage assistance due to an improved job market. This is a good development for Arizona, as our 90+day delinquency rate as declined dramatically since the program began and at 1.8% is now (along withCalifornia) the lowest of all Hardest Hit States.

In recognition of the fact that not all Arizona communities have rebound from the economic crises asquickly as others, we proposed and received authorization by Treasury in December 2015 to introduce anew component for Arizona’s Hardest Hit Fund Program which is launching in March 2016. The purposeof this program is to address economic drags within certain geographical areas that are not recovering atthe same rate as other areas of the state when compared to statewide statistics. Distress signals that wereconsidered included: change in sales price from one year ago, REO sales rates, short sale rates, negativeequity, and the foreclosure rate.

The Program was approved for 17 cities within the state, where homebuyer assistance of 10 percent of ahome’s purchase price (up to a maximum of $20,000) may be provided to qualified homebuyers. Purchaseassistance will be made available through the Pathways to Purchase Down Payment Assistance Program.By providing such assistance, the Program hopes to incentivize purchases within areas of the state thatare still experiencing economic setbacks brought on by the foreclosure and economic crises in order toeffect a recovery for the entire state through stimulating the real estate market within these laggingcommunities. Communities where homebuyers may receive such assistance are: Arizona City, Avondale,Buckeye, Casa Grande, Coolidge, Douglas, El Mirage, Fort Mohave, Goodyear, Huachuca City, Laveen,Maricopa, Red Rock, Sierra Vista, Snowflake, Tucson, and Yuma. More program information and a list ofparticipating lenders is available on our website at www.azhousing.gov.



Household Assistance Levels IncreaseDuring the fourth quarter of 2015, 172 new households were approved to receive assistance. Fromprogram inception through this period, a total of 4,240 households received assistance.


The Save Our Home AZ program provides assistance under several components: Principal ReductionAssistance, Second Mortgage Settlement Assistance, Un/Underemployment/Reinstatement MortgageAssistance, and Short Sale Assistance. The chart below shows the breakdown of assistance in these variouscomponents.

HHF Budget and Commitments AnalysisComponent Budgeted Committed

Principal Reduction Assistance $ 119,818,609 $ 64,819,333.791



100,782,837 66,965,086.523



Total Budget $ 267,766,006 $ 161,614,864.16

NotesAs of December 31, 2015:1Of the $64.8 million committed for Principal Reduction Assistance, $2.8 million remained in escrow awaiting the closing of the assistance.2Of the $9 million committed for Second Mortgage Settlements, $12K remained in escrow awaiting the closing of the assistance.3Of the $66.9 million committed for Un/Underemployment/Reinstatement Mortgage Assistance, $21.2 million remains held in escrow to bedisbursed for further, future monthly payments for participating homeowners.4Of the $792K that has been committed for Short Sale Assistance, all has been disbursed for assistance.5Of the $20 million spent on administrative expenses, $10.2 million was spent on outreach and counselor services for applicants.


$64,819,834


Under/Unemployment

Mortgage Assistance,$66,965,086

Short SaleAssistance, $792,513





The majority of these costs are incurred by advertising the program, accepting, reviewing andunderwriting applications, advocating on behalf of homeowners with their lenders, facilitating the myriadof legal documents required to provide assistance and executing those documents at closing. Mostadministrative costs are incurred to commit Hardest Hit Funds to the homeowner. Arizona’sadministrative costs, of which counseling costs are included, are currently under budget at 12% of overallexpenditures.


45%


3%


38%



13%HHF Budget


40%

Second Mortgage Settlements6%


41%


Administrative Costs6% Counseling Costs

6%

HHF Usage to date

Program Commitments88%


Counselor Costs6%



Template Version Date: January 2016

1 Unique Borrower Count2 Number of Unique Borrowers Receiving Assistance 154 42193 Number of Unique Borrowers Denied Assistance 422 117894 Number of Unique Borrowers Withdrawn from Program 39 11275 Number of Unique Borrowers in Process 208 N/A6 Total Number of Unique Borrower Applicants 823 173437 Program Expenditures ($)8 Total Assistance Provided to Date $9,096,048 $117,443,6619 Total Spent on Administrative Support, Outreach, and Counseling $870,389 $20,023,042

10 Borrower Income ($)11 Above $90,000 3.90% 2.89%12 $70,000- $89,000 7.79% 6.23%13 $50,000- $69,000 18.83% 14.06%14 Below $50,000 69.48% 76.82%15 Borrower Income as Percent of Area Median Income (AMI)16 Above 120% 1.95% 5.07%17 110%- 119% 0.00% 1.61%18 100%- 109% 0.00% 2.13%19 90%- 99% 10.39% 5.48%20 80%- 89% 7.79% 5.05%21 Below 80% 79.87% 80.66%22 Geographic Breakdown (by county)23 Maricopa County 81 237324 Pima County 44 97325 Pinal County 8 29826 Balance of State 21 57527 Home Mortgage Disclosure Act (HMDA)28 Borrower29 Race30 American Indian or Alaskan Native 0 4631 Asian 3 7132 Black or African American 9 27433 Native Hawaiian or other Pacific Islander 4 2634 White 105 280035 Information Not Provided by Borrower 33 100236 Ethnicity37 Hispanic or Latino 54 124638 Not Hispanic or Latino 85 247239 Information Not Provided by Borrower 15 50140 Sex41 Male 63 199042 Female 71 182343 Information Not Provided by Borrower 20 40644 Co-Borrower45 Race46 American Indian or Alaskan Native 0 1147 Asian 1 2348 Black or African American 1 5549 Native Hawaiian or other Pacific Islander 2 850 White 24 80951 Information Not Provided by Borrower 13 39752 Ethnicity53 Hispanic or Latino 7 34554 Not Hispanic or Latino 26 73955 Information Not Provided by Borrower 8 16256 Sex57 Male 8 31158 Female 21 74359 Information Not Provided by Borrower 12 192

CumulativeQTD


CumulativeQTD


60 Hardship61 Unemployment 60 235962 Underemployment 31 73263 Divorce 5 6764 Medical Condition 15 21065 Death 0 2166 Other 43 83067 Current Loan to Value Ratio (LTV)68 <100% 38.96% 33.21%69 100%-109% 9.09% 8.25%70 110%-120% 12.99% 9.22%71 >120% 38.96% 49.32%72 Current Combined Loan to Value Ratio (CLTV)73 <100% 26.19% 20.33%74 100%-119% 19.05% 16.03%75 120%-139% 23.81% 21.41%76 140%-159% 11.90% 13.40%77 >=160% 19.05% 28.83%78 Delinquency Status (%)79 Current 44.16% 31.22%80 30+ 10.39% 7.58%81 60+ 11.04% 6.87%82 90+ 34.42% 54.33%83 Household Size84 1 53 125785 2 44 107886 3 23 65687 4 18 62288 5+ 16 606

Line 1: Since applications marked as denied or withdrawn in previous quarters may be reconsidered due to a change in borrower circumstances,some unique borrower counts may not sum in a quarter-over-quarter fashion.

Line 2 - This does not include x number of borrowers receiving assistance under the Down Payment Assistance program. The total numberof unique borrowers assisted including Down Payment Assistance is X.




171819 Median 1st Lien Housing Payment Before Assistance 1,028 1,05020 Median 1st Lien Housing Payment After Assistance 820 79621 Median 2nd Lien Housing Payment Before Assistance 227 19122 Median 2nd Lien Housing Payment After Assistance N/A N/A23 Median 1st Lien UPB Before Program Entry 173,717 167,39524 Median 1st Lien UPB After Program Entry 135,000 123,30825 Median 2nd Lien UPB Before Program Entry 27,585 30,42526 Median 2nd Lien UPB After Program Entry N/A N/A27 Median Principal Forgiveness 39,357 43,60228 Median Length of time Borrower Receives Assistance N/A N/A29 Median Assistance Amount 39,357 43,6023031 Assistance Provided to Date $4,587,484 $61,936,13632 Total Lender/Servicer Assistance Amount $20,167 $2,255,62033 Borrowers Receiving Lender/Servicer Match (%) 1.23% 6.59%34 Median Lender/Servicer Assistance per Borrower $20,167 $20,9503536 Median Length of Time from Initial Request to Assistance Granted 61 503738 Number 61 102339 % 75.31% 86.40%4041 Number 8 4342 % 9.88% 3.63%4344 Number 4 2645 % 4.94% 2.20%4647 Number 8 9248 % 9.88% 7.77%

In Process




Denied

Approved

Withdrawn

Delinquent (60+)

Delinquent (30+)

Delinquent (90+)





Total

Current






Line 31: Amounts may not foot to prior quarter results due to rounding.



Deed in Lieu

Short Sale


Short Sale

Deed in Lieu



Cancelled

Foreclosure Sale

Program Outcomes





171819 Median 1st Lien Housing Payment Before Assistance 896 1,01020 Median 1st Lien Housing Payment After Assistance N/A N/A21 Median 2nd Lien Housing Payment Before Assistance 204 19222 Median 2nd Lien Housing Payment After Assistance 0 023 Median 1st Lien UPB Before Program Entry 144,898 169,46924 Median 1st Lien UPB After Program Entry N/A N/A25 Median 2nd Lien UPB Before Program Entry 28,048 32,00626 Median 2nd Lien UPB After Program Entry 0 027 Median Principal Forgiveness 27,123 23,57628 Median Length of time Borrower Receives Assistance N/A N/A29 Median Assistance Amount 27,123 23,5763031 Assistance Provided to Date $1,324,305 $9,002,15432 Total Lender/Servicer Assistance Amount $0 $1,885,12933 Borrowers Receiving Lender/Servicer Match (%) 0.00% 36.56%34 Median Lender/Servicer Assistance per Borrower $0 $17,7743536 Median Length of Time from Initial Request to Assistance Granted 54 703738 Number 15 20239 % 78.95% 72.40%4041 Number 3 1742 % 15.79% 6.09%4344 Number 0 545 % 0.00% 1.79%4647 Number 1 5548 % 5.26% 19.71%

Withdrawn


Delinquent (30+)




Total



Approved

Denied


In Process

Delinquent (60+)

Delinquent (90+)

Current

Cumulative



Program Intake/EvaluationQTD Cumulative

49



Line 36: Median application processing times may be affected by applicants reapplying for assistance.

Short Sale



Program Outcomes



Deed in Lieu



Foreclosure Sale

Deed in Lieu

Short Sale


Cancelled





Arizona


Cumulative

Denied


Approved

Withdrawn



Current

Total

Delinquent (60+)

Delinquent (90+)

In Process

Delinquent (30+)


Arizona



QTD49




Program Outcomes




Cancelled

Foreclosure Sale

Deed in Lieu

Deed in Lieu


Short Sale

Short Sale







Approved



Current

Delinquent (30+)

Delinquent (60+)

Delinquent (90+)




Denied

Withdrawn

In Process


Total

49








Short Sale

Deed in Lieu


Short Sale

Program Outcomes


Cancelled

Deed in Lieu

Foreclosure Sale

123 Number of Borrowers Receiving Assistance 0 04 % of Total Number of Submissions 0.00% 0.00%56 Number of Borrowers Withdrawn 0 07 % of Total Number of Submissions 0.00% 0.00%89 Number of Borrowers In Process 0 N/A

10 % of Total Number of Submissions 0.00% N/A1112 Total Number of Borrowers Submitted for Assistance 0 0

13Number of Borrowers that Previously Participated in Other HFA HHFPrograms

0 0

141516 Median Purchase Price 0 017 Median Credit Score 0 018 Median DTI 0% 0%1920 Assistance Provided to Date $0 $0212223 Above $90,000 0.00%24 $70,000- $89,000 0.00% 0.00%25 $50,000- $69,000 0.00% 0.00%26 Below $50,000 0.00% 0.00%2728 Above 120% 0.00% 0.00%29 110%- 119% 0.00% 0.00%30 100%- 109% 0.00% 0.00%31 90%- 99% 0.00% 0.00%32 80%- 89% 0.00% 0.00%33 Below 80% 0.00% 0.00%34353637 American Indian or Alaskan Native 0 038 Asian 0 039 Black or African American 0 040 Native Hawaiian or other Pacific Islander 0 041 White 0 042 Information not provided by borrower 0 04344 Hispanic or Latino 0 045 Not Hispanic or Latino 0 046 Information not provided by borrower 0 04748 Male 0 049 Female 0 050 Information not provided by borrower 0 0



Race

Ethnicity

Sex

Total

Program CharacteristicsLoan Characteristics at Origination

Borrower CharacteristicsBorrower Income ($)


Down Payment Assistance (DPA)


Funded

Withdrawn

In Process


Down Payment Assistance (DPA)

QTD CumulativeProgram Intake/Evaluation51

5253 American Indian or Alaskan Native 0 054 Asian 0 055 Black or African American 0 056 Native Hawaiian or other Pacific Islander 0 057 White 0 058 Information not provided by borrower 0 05960 Hispanic or Latino 0 061 Not Hispanic or Latino 0 062 Information not provided by borrower 0 06364 Male 0 065 Female 0 066 Information not provided by borrower 0 06768 Arizona City 0 069 Avondale 0 070 Buckeye 0 071 Casa Grande 0 072 Coolidge 0 073 Douglas 0 074 El Mirage 0 075 Fort Mohave 0 076 Goodyear 0 077 Huachuca City 0 078 Laveen 0 079 Maricopa 0 080 Red Rock 0 081 Sierra Vista 0 082 Snowflake 0 083 Tuscon 0 084 Yuma 0 08586 Six Months Number N/A 087 Six Months % N/A 0.00%88 Twelve Months Number N/A 089 Twelve Months % N/A 0.00%90 Twenty-four Months Number N/A 091 Twenty-four Months % N/A 0.00%92 Unreachable Number N/A 093 Unreachable % N/A 0.00%

Sex

Geographic Breakdown (by Targeted Area)


Co-BorrowerRace

Ethnicity

Lines 1-93: Down Payment Assistance Component has not funded any loans to date

Number of Unique Borrowers Receiving Assistance Total number of unique borrowers having received some form of assistance under any one of theHFA's programs. The number of borrowers represented in the other "Borrower Characteristics"fields should foot to this number. This number does not include borrowers receiving Down PaymentAssistance.

Number of Unique Borrowers Denied Assistance Total number of unique borrowers not receiving assistance under any of the programs and notwithdrawn. This number does not include borrowers in process for Down Payment Assistance.


Number of Unique Borrowers in Process Total number of unique borrowers who have not been decisioned for any program and are pendingreview. This should be reported in the QTD column only. This number does not include borrowersin process for Down Payment Assistance.

Total Number of Unique Applicants Total number of unique borrowers. This should be the total of the four above fields (using the QTDcolumn for in process borrowers).This number does not include unique applicants for DownPayment Assistance.

Total Assistance Provided to Date Total amount of assistance disbursed by the HFA across all programs.Total Spent on Administrative Support, Outreach, and Counseling Total amount spent on administrative expenses to support the program(s).





























Borrower Income




Race

Ethnicity

Sex

Co-BorrowerRace

Ethnicity

Sex

Hardship




Household Size



Denied

Withdrawn

In Process

Total













Median Length of Time from Initial Request to Assistance Granted Median length of time from initial contact with borrower to assistance provided. Please report indays (round up to closest integer). May include borrowers who had previously applied for otherHHF programs.















Number Number of borrowers transitioned out of the HHF program into a short sale as an alternativeoutcome of the program.


Number Number of borrowers who transitioned into a loan modification program (such as the Making HomeAffordable Program) from PRA, SMS or UMA program components. Note: Does not include SMSassistance used in conjunction with a Short Sale

% Number of borrowers who transitioned into a loan modification program divided by the total numberof borrowers no longer receiving assistance under this program.






Current

Delinquent (30+)


Delinquent (60+)

Delinquent (90+)

Program Outcomes


Cancelled

Deed-in-Lieu

Short Sale








% Not Applicable











Number of Borrowers Receiving Assistance The total number of borrowers receiving assistance.% of Total Number of Submissions Total number of borrowers receiving assistance divided by the total number of borrowers submitted

for assistance.

Number of Borrowers Withdrawn The total number of borrowers referred by the lender for assistance in which the mortgagetransaction or sale could not be completed.

% of Total Number of Submissions Total number of borrowers withdrawn divided by the total number of borrowers submitted forassistance.

Number of Borrowers In Process The number of borrowers who have applied and are eligible for down payment assistance, pendingthe scheduling or execution of the mortgage closing. This should be reported in the QTD columnonly.

% of Total Number of Submissions Total number of borrowers in process divided by the total number of borrowers submitted forassistance.

Total Number of Borrowers Submitted for Assistance The total number of borrowers submitted by the lender to the HFA for assistance (approved,withdrawn and QTD in process).

Number of Borrowers that Previously Participated in Other HFA HHFPrograms

Number of borrowers who previously participated in other HFA sponsored HHF programs or otherHHF program components (i.e. , funded borrowers only).

Median Purchase Price The median home purchase price for all borrower-assisted properties at the time of origination.

Median Credit Score The median credit score of all borrowers at the time of origination.Median DTI The median front-end debt-to-income ratio at the time of origination (as defined by program).

Assistance Provided Total amount of aggregate assistance exclusively provided by the HFA.

All Categories Total annual gross income in dollars for all borrowers on the loan.

All Categories Total annual gross income in dollars for all borrowers on the loan as a percentage of area medianincome.





Race

Ethnicity

Sex

Total

Program CharacteristicsLoan Characteristics at Origination


Borrower Income


HFA Performance Data Reporting - Program PerformanceThe Following Data Points May Be Reported In Aggregate For Down Payment Assistance Programs

Program Intake/EvaluationFunded

Withdrawn

In Process

Short Sale

Deed-in-Lieu




















Down Payment Assistance (DPA) Program provides funds to prevent foreclosures by stimulating home purchase activity andstabilizing neighborhoods in targeted areas.

Race

Ethnicity

Sex



Co-Borrower


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