Nevada Affordable Housing Assistance Corporation

“A draft of the form 990 is presented to the governing board and approved by the board chairperson prior to filing.”

“The board of directors reviews the conflict of interest policy and makes updates as determined necessary.”

“The ceo's compensation is reviewed and approved by the governing board.”

“The compensation of other employees is reviewed and approved by the ceo.”

“Governing documents are made available upon request.”

“The mission of nahac is to provide funds, subsidies, and/or benefits to nevada homeowners or other targeted groups of individuals within the state of nevada in order to assist with affordable or subsidized single or multi-family housing. At a minimum, this will encompass consistently determining what the specific needs of nevada homeowners are, and any other applicable needs of the individual communities therein. Liaisons with public and private partners, as applicable, will be consistently sought to achieve this overarching objective. The nahac qualified and trained team of professionals will provide this service in an efficient and effective manner, making the needs of eligible nevada homeowners its top daily priority.”

“With an eligible financial hardship who have a second mortgage lien and who: (a) could achieve affordable monthly mortgage payments and an appropriate level of debt if their second mortgage (second lien) were eliminated; or (b) could achieve affordable monthly mortgage payments and an appropriate level of debt with a principal reduction and reamortization or modification of their second mortgage. This assistance is provided as a one-time payment to lenders/servicers up to a maximum of 50,000 per household. Mortgage assistance program (map and u-map)- provides temporary financial assistance to eligible nevada borrowers who wish to remain in their homes, but have suffered a loss of income due to unemployment or underemployment. Map provides mortgage payment assistance equal to the lesser of 3,000 per month or 100% of the principal, interest, tax, and insurance, as applicable (piti) and any escrowed or non-escrowed homeowner's association dues or assessments, for up to eighteen (18) months, with the purpose of preventing avoidable foreclosures until such time that the borrower retains employment sufficient to meet the demands of satisfying their regular mortgage payment. Mortgage reinstatement assistance program (mrap)- provides temporary financial assistance to eligible borrowers who wish to remain in their homes, but are in imminent danger of losing their home to foreclosure. Mrap provides funds to help income-qualified borrowers cure their delinquent first mortgage loan arrearages, which may also include payments needed to reinstate their loans from foreclosure. Assistance with curing delinquent, non-escrowed property taxes and homeowners' association dues is only available in conjunction with other assistance on the homeowner's mortgage loans.”

“Prior period adjustments per audit -149,363”