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Homeownership Preservation Advance (HPA)

Homeownership Preservation Advance (HPA) credit may be used to provide funds to modify or refinance mortgage loans for low- and moderate-income homeowners who may be at risk of losing their primary residence because of delinquency or default on their mortgage loan.
 
HPA credit is used to:
  • Refinance or modify existing mortgage loans to help homeowners avoid foreclosure by lowering their mortgage payments.
  • Give homeowners facing unaffordable interest rate resets on their adjustable rate mortgages the opportunity to obtain a fixed rate mortgage.
  • Provide reverse mortgages to enable elderly homeowners to preserve homeownership.
HPA credit is available in a variety of maturities for an array of credit products and provides Bank members with interest rates that are generally lower than rates on regular Bank advances.
 
More Information
 
Participation in HPA requires compliance with all Community Investment Cash Advance (CICA) policies, regulations, obligations, and procedures. If the Bank determines that a participating member has not complied with the qualifying terms of the program or has not provided acceptable documentation to verify compliance, the Bank may change the interest rate on each outstanding HPA borrowing, retroactive to its funding date, to the rate in effect on the funding date for a comparable advance under the Bank’s regular credit programs. The Bank monitors all HPA borrowings, including at time of application and post-completion, to ensure that the HPA funds are used appropriately.
© 2000-2008 Federal Home Loan Bank of San Francisco
Federal Home Loan Bank of San Francisco

Homeownership Preservation Advance (HPA)

Homeownership Preservation Advance (HPA) credit may be used to provide funds to modify or refinance mortgage loans for low- and moderate-income homeowners who may be at risk of losing their primary residence because of delinquency or default on their mortgage loan.
 
HPA credit is used to:
HPA credit is available in a variety of maturities for an array of credit products and provides Bank members with interest rates that are generally lower than rates on regular Bank advances.
 
More Information
 
Participation in HPA requires compliance with all Community Investment Cash Advance (CICA) policies, regulations, obligations, and procedures. If the Bank determines that a participating member has not complied with the qualifying terms of the program or has not provided acceptable documentation to verify compliance, the Bank may change the interest rate on each outstanding HPA borrowing, retroactive to its funding date, to the rate in effect on the funding date for a comparable advance under the Bank’s regular credit programs. The Bank monitors all HPA borrowings, including at time of application and post-completion, to ensure that the HPA funds are used appropriately.



© 2000-2008 Federal Home Loan Bank of San Francisco