NC Register Volume 23 Issue 09 - Office of Administrative Hearings

IN ADDITION
RESOLUTION APPROVING WAIVERS IN THE
HOME PROTECTION PILOT PROGRAM
RESOLUTION 09-4
WHEREAS, the N.C. General Assembly did adopt House Bill 1414 in the 2004 Session and it contained a special provision
directing the N.C. Housing Finance Agency (the “Agency”) to design and implement a Home Protection Pilot Program (the
“Program”); and
WHEREAS, the General Assembly did adopt House Bill 2436 in the 2008 Session that removed the pilot status from the
Home Protection Program and incorporated its authorization in the N.C. General Statutes; and
WHEREAS, the staff of the Agency has conducted extensive research into the appropriate design of the Program, in order to
better assist home owners through a partnership with local counseling agencies, and staff has produced Program procedures and
guidelines that were adopted by the Board of Directors through Resolution 05-16 in November, 2004; and
WHEREAS, staff has performed a quality control audit of all closed Program loans and identified those cases where staff
provided exceptions to the loan amount or duration of loan assistance in order to increase the likelihood of a successful outcome for
the homeowner;
NOW, THEREFORE, BE IT RESOLVED THAT:
Section 1. The Board of Directors approves a waiver of the guidelines for either the loan amount or the loan duration, or
both, under the Home Protection Pilot Program (now the Home Protection Program), for those homeowners listed on Exhibit 1.
Section 2. The Board of Directors approves the use of deferred payment (nonamortizing) loans for all homeowners receiving
assistance under the Home Protection Pilot Program (now the Home Protection Program).
Section 3. The Board of Directors authorizes the Executive Director to approve individual waivers of the guidelines only
where it is essential to the effectiveness of the Home Protection Program and the Executive Director is required to report any such
waivers at the next regular meeting of the Board of Directors after the waiver is provided.
Section 4. This Resolution was adopted September 25, 2008.
NORTH CAROLINA HOUSING FINANCE AGENCY
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23:09 NORTH CAROLINA REGISTER NOVEMBER 3, 2008
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