CDBG - Mortgage Reduction

Dane County is soliciting applications from organizations interested in operating a mortgage reduction program to promote homeownership opportunities for low-and-moderate income residents of the Dane County Urban County Consortium. The program will provide mortgage reduction loans to eligible borrowers, and the selected organization will be responsible for marketing the program, conducting initial pre-screening and intake, providing information to the County, and ensuring that borrowers complete a homebuyer education course. The organization will also be responsible for conducting required underwriting, documenting income eligibility, and ensuring that properties meet housing quality standards. • The program will target low-and-moderate income households in the Dane County Urban County Consortium. • The selected organization will be required to comply with the requirements of the CDBG and HOME programs. • The organization will be responsible for tracking beneficiary information to ensure that those served reside in the Dane County Urban County Consortium. • The program will provide mortgage reduction loans to eligible borrowers, with a maximum loan amount of $1,100,000 in CDBG funds and $600,000 in HOME funds. • The organization will be required to provide monthly financial and beneficiary reports to the County.