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BAAHA Scope of Services Contract Year 2024/25 | Page12 • Consult with lender and participant on steps required to take to further advance the program approval procedure. • Loan approval that will include the communication of approval or denial to the prospective borrower/buyer. • Review all documents as related to the real estate purchase, including the appraisal, title report, and real estate purchase contract. PDALP and PHAP Program Support and Underwriting BAAHA staff will provide PDALP and PHAP purchasers/borrowers requisite support services to apply and obtain program funding. In assisting Program participants, BAAHA will maintain the following procedures. • Review prospective applicant to determine if they qualify for additional subsidy program. • Assist in preparing application for the PDALP and all other augmenting programs (such as the WISH Program). • Assist in processing and submit program reservation requests for program. • Follow through with subsidy provider to make certain that all documents are in order and program protocols are adhered to. • Through the entire process, make certain to communicate and facilitate all activities and protocols with all parties in the transaction including the real estate agents, first lender, title company, and municipality/agency providing the subsidy. General Non-Program Specific Related Administration Additional non-program administrative related activities BAAHA will be involved with include: • Overseeing general program operations and budget. BAAHA will maintain financial records and budgets as it pertains to all operational costs. • Maintaining all requisite records from operations. BAAHA will maintain all documents and records as related to the operations and implementation of the City’s Programs. These records will be open and made available to City administrators at all times. • Preparation and delivery of administrative reports. BAAHA will provide the City administrators and any related agencies a report on all program activities. This report will include a narrative further describing challenges, issues, opportunities, and general observations related to the maintenance and advancement of the program. • Maintain a database of prospective participants. BAAHA will maintain a database of inquiries and participants within the program, irrespective of the outcome of the participants’ efforts in securing a home. • Administrative Billing Statements – for BAAHA’s administrative services will be provided to the City on a quarterly basis. Program Development and Consulting BAAHA will also be available to provide input and consulting services related to the development and/or expansion of any affordable homeownership initiatives and Program that the City is considering or involved with. Docusign Envelope ID: 473ECB6B-08F5-49E6-8BF9-53FFB6D72DE6