Housing Programs

Housing Programs

MDG Associates provides a variety of housing programs services inclusive of conducting housing rehabilitation programs, first-time homebuyer programs, TBRA programs, and coordinating the use of HUD HOME and CDBG-DR resources for housing development and rehabilitation.

Housing Rehabilitation Programs

MDG Associates is experienced and skilled in the development and implementation of housing rehabilitation programs. Available services include: structuring policies and procedures that conform to both the regulatory requirements for the specified funding source and the program requirements of the grantee, preparing Program Guidelines, Implementation Procedures, and program forms to ensure documented program compliance.

MDG also has the ability to implement housing rehabilitation programs, inclusive of: preparation of program marketing materials and initiation of program marketing efforts, performance of application reviews and verification of applicant and property eligibility, performance of preliminary underwriting reviews, conducting initial property inspections and obtaining photo documentation of pre-construction conditions, preparation of work descriptions and estimates of cost, completion of required environmental reviews, historic reviews and environmental site testing.

Upon determination of applicant eligibility, MDG can perform: loan underwriting, conduct property appraisals, determine applicant and property conformance with underwriting requirements, prepare Loan Review Committee (LRC) Reports and recommendations, and schedule and participate in the LRC meeting.

Subsequent to LRC approval, MDG can: prepare bid documents, evaluate bids and determine contractor eligibility, issue award notifications, prepare all loan/grant documentation and the contractor agreement, conduct the pre-construction meeting and obtain agreement signatures, ensure that lien documentation is recorded, and upon expiration of the rescission period issue a notice to proceed. We can also monitor construction, inclusive of invoice review and verification of work, processing of lien releases, verifying permit issuance and inspection, obtaining sign-offs on authorizations for issuance of progress payments, and reviewing and processing change order requests, as necessary.

Upon being advised that all contracted repairs have been completed, MDG can receive the final invoice, inspect the property to determine completion of all repairs, review permits for final sign-offs, prepare a final inspection report, obtain photo documentation of all performed improvements, prepare a Notice of Completion (NOC) and obtain signatures and record, and process the final request for payment and release after expiration of the NOC lien period. Final project close-out activities include transmittal of original loan documentation to the grantee’s loan repository, loan advisory notices to the grantee’s finance department, verification of recordation of the grantee’s lien, and receipt of a final unconditional lien release.

Homebuyer Programs

MDG is skilled in the development and operation of First Time Homebuyer (FTHB) Programs using federal Community Development Block Grant (CDBG), HOME Investment Partnerships (HOME), or other governmental program funds. After conferring with the grantee to determine program parameters such as loan/grant type and amounts, allowable housing to be assisted, applicant financial underwriting requirements, and other relevant program policies, MDG can formulate the Program Guidelines, program forms, and Implementation Procedures.

MDG can perform all program implementation functions, inclusive of: marketing to ensure that a sufficient number of applicants are participating, outreach to ensure that the lending community is apprised of program availability, applicant review and processing, Loan Review Committee approval determinations, and conferring with the applicant’s selected lender to advise them of program requirements. During the property selection phase, MDG will provide the applicant’s selected realtor with the necessary federal disclosures, and upon identification of a property, perform the environmental review. Additionally the property is inspected to determine compliance with all relevant property standards, inclusive of lead-based paint requirements.

MDG coordinates with the primary lender and realtor throughout the underwriting phase in the obtaining of an appraisal, performance of title work, obtaining of a Homebuyer Education Certificate, preparation of applicable Participation Agreements and Supplemental Escrow Instructions, verification of lender file consistency with FTHB program application documentation, and preparation of grantee loan documentation inclusive of the promissory note, deed of trust, truth-in-lending statement, Loan Estimate Form, Notice of Default, and affordability covenant agreement.

During the loan closing process, MDG maintains contact with the escrow holder to facilitate transmittal of grantee loan documentation and the wire transfer of loan funds. Post-settlement, the Settlement Statement is reviewed for conformance with loan requirements, the grantee lender’s title is verified for inclusion of the grantee loan in its required lien position, and original loan documents transmitted to their designated repository, with loan advisories transmitted to the finance department.

Additional available services include annual monitoring to ensure continued owner-occupancy and to verify maintenance of insurance coverage, responding to subordination and demand inquiries, preparation of subordination and demand documentation, and accounting for the receipt and posting of any program income.

Affordable Housing Development

MDG Associates can assist in the programming of federal HUD resources such as HOME and CDBG-DR in the development or rehabilitation of housing. Available services include: project scoping and review, performing affordability determinations based on the levels of federal assistance and unit mix, reviewing development and operating pro-formas, performance of the subsidy layering analysis, performing the site and neighborhood analysis when required, performing environmental reviews, reviewing RFPs, RFQs, DDAs, and affordability covenants for required federal inclusions, developing annual monitoring and property inspection plans and performing inspections and reviews, and evaluating cash flow documentation for residual receipts loan payments.