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o Transferring title on a a property <br /> o Making capital improvements <br /> • City monitoring process and activities <br /> Program Operations and Administration <br /> Income Eligibility Analysis <br /> BAAHA has a standardized income eligibility worksheet it employs. BAAHA will provide an <br /> accounting of all sources of revenue applicable for income eligibility as well as a documented <br /> projection of the annual income for the borrower. All borrowers that are over income will be <br /> notified of their ineligibility by BAAHA. Borrowers who lack income and purchase capacity to <br /> purchase a property will also be notified of their lack of purchase power. <br /> Loan Document Preparation and Escrow Process <br /> BAAHA maintains the following steps when processing loan documents and escrow related matters. <br /> • Loan document preparation—upon obtaining a program reservation and entering into a <br /> purchase contract,BAAHA will prepare loan documents for delivery to the City. <br /> • Loan document review and adjustments—the City reviews the document and either accepts <br /> them with no adjustments or requests changes. Adjustments, if required, are made by <br /> BAAHA and final copies of documents are delivered to escrow with escrow instructions. <br /> • Delivery and processing of documents in escrow—BAAHA follows up with the escrow <br /> company to make certain that all instructions are clear and followed up on. <br /> • Distribution of documents and records management—BAAHA makes certain that all documents <br /> are distributed to all parties, including the City, Borrower,and all other contracted entities. <br /> Loan Payoff Services <br /> BAAHA will assist the City in processing Loan Payoffs that may be incurred through the sale, <br /> refinance(or other reasons)of City's PDALP and PHAP Program properties. BAAHA will <br /> deliver the City's payoff demands to the Program homeowners,prepare reconveyance documents <br /> for recordation upon payoff, issue escrow instructions and provide copies of all documents to the <br /> City. <br /> File Maintenance <br /> BAAHA maintain copies of all documents, correspondences,and schedules pertaining to the <br /> processing, underwriting,and delivery of the Pleasanton PDALP and PHAP. These files, unless <br /> otherwise instructed by the City will be retained for a three year period. <br /> First Lender Support and Processing <br /> BAAHA will assist all lenders participating in the Program with the underwriting and funding of first <br /> loans that are associated with the funding of the PHAP and PDALP Programs. BAAHA will provide <br /> the following loan related services for loans originated or directed to program-affiliated lenders. <br /> 141Page <br />