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Rule Title: RESPONSIBILITIES OF TANF LOAN HOUSING ASSISTANCE ORGANIZATION
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Department: COMMERCE, DEPARTMENT OF
Chapter: BOARD OF HOUSING
Subchapter: Affordable Housing Revolving Loan Fund and TANF Housing Assistance Funds
 
Latest version of the adopted rule presented in Administrative Rules of Montana (ARM):

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8.111.515    RESPONSIBILITIES OF TANF LOAN HOUSING ASSISTANCE ORGANIZATION

(1) A housing assistance organization taking applications for TANF loans:

(a) must be approved by the board;

(b) shall follow such guidelines for TANF eligibility as are provided by the department of public health and human services;

(c) must provide training to applicants for TANF loans from a TANF allocation - home ownership on the responsibilities of home ownership; and

(d) must provide post purchase counseling to recipients of TANF loans from a TANF allocation - home ownership or a loan for mortgage payment assistance from a TANF allocation - emergency housing assistance.

(2) As compensation for preparing and processing a TANF loan, providing home ownership training and post purchase counseling, the housing assistance organization shall receive from the board an administrative fee in an amount equal to 7% of the amount of each TANF loan made by it, provided however, that once the initial TANF funds available to the board from the department of public health and human services have been disbursed, there will be no compensation available under this section to a housing assistance organization from the board for preparing and processing any loans made with funds from repayments of initial TANF loans.

(3) The housing assistance organization is responsible for servicing TANF loans.

(a) Servicing responsibility may be met by contracting for servicing with a loan servicer qualified and approved by the board under ARM 8.111.305A.

(b) As compensation for servicing a TANF loan the housing assistance organization is entitled to a monthly servicing fee in an amount equal to .1/12 of 5% of the outstanding principal balance of the TANF loan immediately prior to the application of the payment, which amount shall be deducted from the TANF loan payment.

(c) The housing assistance organization may also retain late charges collected from the TANF loan recipient.

(4) A housing assistance organization will cooperate with the board in complying with data requests, certifications and reports required by the board to the Montana department of public health and human services.  Within 15 days from the end of each calendar quarter a housing assistance organization will provide the board, on a form provided by the board, with requested data including, but not limited to:

(a) loan recipient demographic data including social security number and family size;

(b) the actual expenditure made by the loan recipient with the loan proceeds and the type of expenditure, e.g. housing loan, one-time housing purchase related expense, non-recurring emergency housing expense;

(c) provider/contractor information including number of households assisted in home ownership program, number of home ownership loans made, average amount of home ownership loan, number of households served by one-time emergency housing assistance, and average one-time emergency housing assistance loan; and

(d) fiscal reporting data, including amount loaned for home ownership loans by current month and year-to-date and amount loaned for emergency housing assistance by current month and year-to-date.

History: Sec. 90-6-136, MCA; IMP, Sec. 90-6-134, MCA; NEW, 2002 MAR p. 75, Eff. 1/18/02; AMD, 2004 MAR p. 1142, Eff. 5/7/04.


 

 
MAR Notices Effective From Effective To History Notes
5/7/2004 Current History: Sec. 90-6-136, MCA; IMP, Sec. 90-6-134, MCA; NEW, 2002 MAR p. 75, Eff. 1/18/02; AMD, 2004 MAR p. 1142, Eff. 5/7/04.
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