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<br />BAAHA Scope of Services Contract Year 2025/26 | P a g e 8 <br />The Lender will be required to take specific steps to conduct the refinance including (and not limited to); <br />  Submit required refinance related lender documents for BAAHA’s review and approval. <br /> Submit a filled out Lender Refinance Module. This is an interactive Excel based module <br />that provides BAAHA the ability to conduct a detailed subordination underwriting analysis. <br /> <br />Subordination Approval and Rate Lock <br /> <br />BAAHA reviews all information provided and makes a preliminary determination to submit an <br />approval recommendation to the City. If approved by the City, BAAHA then allows the Lender <br />to lock the interest rate on the loan. Accordingly, a Lender must receive a Subordination <br />approval from the City prior to locking the interest rate. <br /> <br />Document Preparation and Escrow <br /> <br />BAAHA prepares all Subordination documents and escrow instructions the City requires and <br />delivers them to the City, Lender, and Escrow/Title Company for review and clearance. Upon <br />receiving clearance, BAAHA will request for the City to sign the documents and deliver them to <br />escrow for processing and any other addition signatures that may be required by other parties. <br />Escrow will be instructed to provide the City all copies of signed, notarized, and recorded <br />documents. <br /> <br />PHAP Subordination/Refinance Fees <br /> <br />BAAHA will charge the City $850 per Subordination/Refinance transaction. BAAHA will bill <br />the City on a quarterly basis. <br /> <br />Long Term PHAP Portfolio Management <br /> <br />BAAHA will incorporate the services and resources of the HomeKeeper system to maintain the <br />City’s BMR portfolio monitoring database. <br /> <br />Specific BMR Portfolio Management Services <br /> <br />BAAHA’s BMR Portfolio Management services include and not limited to the following <br />activities: <br /> <br />Monitoring of PHAP Properties <br /> <br />BAAHA will finalize parameters for establishing and implementing a monitoring program for <br />the City. Monitoring the entire PHAP portfolio will conducted annually. <br /> <br />Owner Monitoring Form – BAAHA will distribute its monitoring form to PHAP and/or DAP <br />owners and/or borrowers to fill out and send back to BAAHA. The monitoring form will require <br />owners and/or borrowers to provide and verify key information to determine if they are within <br />compliance of their resale restrictions. <br /> <br />Public Records Review – BAAHA will conduct a public records review on an annual basis. This <br />review will be focused on ownership activities related to title transfers, occupancy, and property liens. <br /> <br /> <br /> <br />Docusign Envelope ID: 214AA125-B9A3-49B6-B526-E3722E6242D7Docusign Envelope ID: 5B4696E6-28B9-475F-84C2-EBE17D94B7CC