Not Applicable.

Uses and Use Restrictions

HUD insures lenders against loss on mortgage loans.

These loans may be used to finance the purchase or reconstruction of a one-family home that will be the principal residence of a borrower that is a victim of a Presidentially-declared disaster.

The maximum insurable loan for such an occupant mortgagor is the same as prescribed for Section 203(b) (14.117).

Disaster victims are not required to meet the 3.5 percent minimum investment requirements.

In order to qualify for assistance, the formerly occupied home must have been in an area designated by the President as a disaster area, and it must have been destroyed or damaged to such an extent that reconstruction or replacement is necessary.

Eligibility Requirements

Applicant Eligibility

Anyone that is a victim of a major disaster as designated by the President is eligible to apply.

Beneficiary Eligibility

Families or individuals that are victims of a major disaster as designated by the President.

Credentials/Documentation

Documentation regarding the characteristics of the property to be financed and the qualifications of the mortgagor are assembled by the mortgagee and submitted with the application. This program is excluded from coverage under 2 CFR 200, Subpart E - Cost Principles.

Aplication and Award Process

Preapplication Coordination

Preapplication coordination is not applicable.

Environmental impact information is not required for this program.

This program is excluded from coverage under E.O.

12372.

Application Procedures

This program is excluded from coverage under 2 CFR 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. An FHA-approved lender submits the application for review and approval or disapproval to the local HUD Field Office.

Award Procedures

Applications are submitted for review and approval or disapproval to the local HUD Field Office through a HUD approved lending institution. In addition, certain lending institutions have been approved to review mortgage insurance applications and issue an approval or rejection, without prior HUD review and approval. This program is referred to as Direct Endorsement.

Deadlines

Not Applicable.

Authorization

National Housing Act.

Range of Approval/Disapproval Time

Varies.

Appeals

HUD will state the reasons for refusing an application. The applicant may reapply subject to concurrence of the lender.

Renewals

Not Applicable.

Assistance Considerations

Formula and Matching Requirements

This program has no statutory formula. Matching requirements are not applicable to this program. MOE requirements are not applicable to this program.

Length and Time Phasing of Assistance

This program goes in to effect when the President declares the disaster and remains in effect for one-year from the date of declaration. Method of awarding/releasing assistance: quarterly.

Post Assistance Requirements

Reports

Not Applicable.

Audits

Not Applicable.

Records

Mortgagees are required to service and maintain records in accordance with acceptable mortgage practices of prudent lending institutions and the HUD regulations.

Financial Information

Account Identification

86-4587-0-3-371.

Obigations

(Sale, Exchange, or Donation of Property and Goods) FY 15 Not Separately Identifiable(Exp: Reported under 14.117); FY 16 Not Separately Identifiable(Exp: Reported under 14.117); and FY 17 Not Separately Identifiable(Exp: Reported under 14.117) - Reported Under 14.117 for all fiscal years.

Range and Average of Financial Assistance

No Data Available.

Regulations, Guidelines, and Literature

Not Applicable.

Information Contacts

Regional or Local Office

None. For additional information, individuals are encouraged to contact the FHA Resource Center by phone at 1-800-CALLFHA (1-800-225-5342), by email at answers@hud.gov or visit the FHA Resource Center site at http://portal.hud.gov/hudportal/HUD?src=/FHAFAQ.

Headquarters Office

Wanda L. Sampedro 451 7th Street, SW, Washington, District of Columbia 20410 Email: answers@hud.gov Phone: (800) 225-5342

Criteria for Selecting Proposals

Not Applicable.