RES 17956 - Laserfiche WebLink

EXHIBIT B - COMPENSATION FOR SERVICES Belo Ma Rate BMR4 Do n Payment Assistance'{" A Activities' Activity Description Hello's Rates Fixed Costs Annually, send up to three letters requesting signed certification and proof of occupancy. Upon completion of annual monitoring and Annual Compliance compliance, provide the City with a monitoring report summarizing the $125 per file Monitoring of Portfolio findings and listing detailed information regarding non-responders or non-compliant responders. Update status in database as Active or Resolved. If no response after three attempts, report list of Active files to the City. Follow-up to be performed on an hourly basis. Variable Costs Follow City's resale procedures. Market units through City's interest list, Hello Housing's Stay Connected list,counseling agencies,and list home on Hello Housing's website. Prepare a resale application package, discuss the resale procedure with owners, review documents, calculate affordable resale price,coordinate with listing and buyer agents(if applicable)to explain program guidelines that a qualified buyer will have to meet. Collect all required documents from the applicant, screen documents and information provided for income and program eligibility, Process Resales of provide an income calculator,detailed checklist and recommendation for $3,500 per Existing BMR Homes(a) approval,with the complete file,to the City. Coordinate collection of resale required information from escrow and lender needed to complete City documents including restrictions, notes, DOTs and escrow instructions. Create the documents and route with instructions for signatures and notarizing at the City(or sign on behalf of City if authorized).Coordinate pickup and delivery of executed documents to Title, and track status of close of escrow and City copies of recorded documents. Once complete, these files become part of the ongoing monitoring portfolio.Track file through all stages of escrow to ensure conforming loan is secured and closes escrow timely. Answer questions and provide information on acceptable first loan products for a refinance, required documentation needed and timeline expectations for lenders and owners. Coordinate with Title Company ss Refinances of and first lender for access to preliminary title report and loan terms in Process ss order to review and confirm that the refinance meets the program's $650 per file efin guidelines. Prepare Escrow Instructions, Subordination Agreement,and all other required City documents and route for signatures. Follow up with Title on close of escrow, and status of City's receipt of copies of recorded documents. Collect all required documents from the applicant. Screen documents Process Applications and information provided for income and program eligibility. Provide $650 per DPA for DPA Loans(a) income calculator,detailed checklist and recommendation for approval applicant or denial with the complete file to the City. Coordinate collection of required information from escrow and lender Doc Prep&Closing for needed to complete City documents including restrictions, notes, DOTs $600 per loan DPA Loans and escrow instructions. Create the documents and route with closed instructions for signatures and notary to the City. Scan and file closing package. DPA Payoffs Field requests for payoffs of DPA loans, request balance due from City $400 per payoff loan servicer(if applicable), provide City's payoff demand to Owner 05/16 Page 7 of 10