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PHAP Underwriting BAAHA will provide all services to conduct and finalize the PHAP underwriting process. These activities will include and not be limited to: • Working directly with a PHAP approved/certified Lender to collect and review required documentation from the lottery winner to complete the Program approval process. • Interacting with the Lender to coordinate findings and to secure final Program approvals. • Submit recommendations for the lottery winner(s)Program approval or disapproval. • Establish and advance efforts with a backup buyer(s), in case the 1st ranked lottery winner is disapproved. • BAAHA internal underwriting system will populate all required PHAP City documents. These documents will be prepared by BAAHA and sent to the City, escrow company, and 1st lender for review and approval. Upon securing approval, BAAHA will send final documents to escrow, with escrow instructions for signing. Under current COVID restrictions, BAAHA normally has the City sign their documents first, and then have them delivered to escrow for the buyer to sign. Property Resale Administration and Fee BAAHA will coordinate, implement, and administer all the tasks required to conduct the resale of PHAP properties. BAAHA will by acting as the real estate agency assigned to implement the resale process. BAAHA has an affiliate real estate company that it works with, Home Quest Realty. Walter Zhovreboff,the Administrative Director, is the owner/broker of Home Quest Realty. Pleasanton Down Payment Assistance Proeram (PDALP) BAAHA would charge a fee of two thousand five hundred ($2,500)dollars for each"closed" PDALP transaction using its established preferred protocols for administering the PDALP program. Program Review and Design BAAHA, in conjunction with the City proposes to initially conduct a comprehensive review and analysis focused on evaluating the effectiveness and capacity of delivering the PDALP to the Pleasanton community. Strategies, concepts, and activities to be covered in the Program review will include and not be limited to: • Conduct a current market study focused on the pricing and property size distribution of sold Pleasanton single family dwelling over the past twelve months. This part of the study will help the City and BAAHA understand the current supply side of the market and establish a platform to determine the viability of funding strategies and requirements to assist prospective PDALP participants • Review and assess the viability and impact of securing and leveraging additional readily available sources of down payment subsidies provided through potential partnering public and private organizations. • Explore the viability of setting PDALP funds aside to assist lower income households to purchase either new or resale median to moderate priced PHAP(BMR)properties. This 9 1 P a g e