FHA's HOPE for Homeowners (H4H) documents are available in DocMagic.  The loan program in DocMagic is FHAH4H.  We've written an article here about the H4H program. 

For more information, visit HUD's HOPE for Homeowners page and for program guidance, please refer to HUD Mortgagee letter 2009-43.  Exhibits A-D to ML 2009-43 may be accessed here.

In addition to the FHA Note and Security Instrument1, the Exit Premium Note and Security Instrument and the following disclosures have been added to DocMagic's FHA Disclosure Matrix:

• Consumer Disclosure and Certification Form (CDCF.H4H): This disclosure was prepared pursuant to Mortgagee Letter 09-43 and Exhibit A and will appear in the H4H packages when the package type is predisclosure or closing and when the origination type is lender or broker.
• Lender Insurance Program Model Pre-Insurance Review (LIP.H4H): This disclosure was prepared pursuant to Mortgagee Letter 09-43 and Exhibit B and will appear in the H4H packages under Forms List and when the origination type is lender or broker.
• Subordinate Lien Upfront Payment Worksheet (SLUPW.H4H): This disclosure was prepared pursuant to Mortgagee Letter 09-43 and Exhibit D and will appear in the H4H packages when the package type is predisclosure or closing and when the origination type is lender or broker.

Based on the program guidelines, we've added these compliance audits:

FATAL: UPFRONT MIP FACTOR MUST BE 2% FOR H4H PROGRAMS - See page 6, Section E of Mortgagee Letter 2009-43.

FATAL: MI RENEWAL FACTOR MUST BE.75 FOR H4H PROGRAMS - See page 6, Section E of Mortgagee Letter 2009-43.

FATAL: MI RENEWAL FACTOR OF .75 IS RESERVED FOR HOPE FOR HOMEOWNERS PROGRAM

FATAL: RATE TYPE MUST BE ‘FIXED' FOR H4H PROGRAMS - See page 5, Section D of Mortgagee Letter 2009-43.

FATAL: LOAN PURPOSE MUST BE REFINANCE FOR H4H PROGRAMS - See page 2, Section A of Mortgagee Letter 2009-43.

FATAL: TERM MONTHS MUST BE ‘360' FOR H4H PROGRAMS - See page 5, Section D of Mortgagee Letter 2009-43.

FATAL: AMORTIZATION MUST BE ‘360' FOR H4H PROGRAMS - See page 5, Section D of Mortgagee Letter 2009-43.

FATAL: PROPERTY MUST BE ‘OWNER OCCUPIED' FOR H4H PROGRAMS - See page 2, Section A of Mortgagee Letter 2009-43.

FATAL: PROPERTY MUST BE ‘PRIMARY RESIDENCE' FOR H4H PROGRAMS - See page 2, Section A of Mortgagee Letter 2009-43.

FATAL: PROPERTY TYPE SELECTED NOT ELIGIBLE FOR H4H PROGRAMS - Commercial and Multifamily property types are not permissible.  Manufactured housing must be attached.

FATAL: APPRAISED VALUE REQUIRED FOR H4H PROGRAMS - See page 4, Section C of Mortgagee Letter 2009-43.

FATAL: FHA ORIGINATION FEE CANNOT EXCEED 1% OF THE BASE LOAN AMOUNT - See page 7, Section F of Mortgagee Letter 2009-43.

WARNING: MIN NUMBER REQUIRED FOR H4H PROGRAMS - See page 14, Section J of Mortgagee Letter 2009-43.

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1 The first-lien note and first-lien mortgage is the 30-year, fixed-rate FHA mortgage, and the second-lien note and security instrument are the Exit Premium Note and Mortgage.  The Exit Premium Note represents the initial equity in the home that HUD would receive on a sliding scale percentage based on the date of a defined Maturity Event.  The Exit Premium Mortgage would secure the Exit Premium Note and take second-lien position.

From Mortgagee Letter 09-43 (p. 5):

A. Term and Interest Rate on the H4H Mortgage
Only 30-year term, fixed-rate mortgages may be offered under this Program.  While the interest rate on the new mortgage is to be negotiated between the borrower and the lender, lenders should offer rates that are commensurate with interest rates on similar types of loans, if any (not considering the annual premium in that comparison).

From Recitals of Exit Premium Note:
R3. Pursuant to the terms and conditions of the H4H Program, the Borrower shall grant the Lender an equity interest in the Property by executing this Note and an Exit Premium Mortgage (the "EPM") of even date herewith with the EPM to be secured by a second priority lien against the Property.

From Recitals of Exit Premium Mortgage:
R4. Pursuant to the terms and conditions of the H4H Program, the Borrower shall grant the Lender an equity and appreciation interest in the Property by executing an Exit Premium Note (the "Note") and this EPM of even date herewith with this EPM to be secured by a second priority lien against the Property.