LENDER SEES KANSAS HOMEOWNER ASSISTANCE FUND HELP ITS CUSTOMERS For people who have fallen behind on their mortgage or utilities due to pandemic-related hardship, the Kansas Homeowner Assistance Fund (KHAF) is a great benefit, says loan officer Julie Cannady of Community National Bank & Trust (CNB) in Augusta, Kansas. KHAF, administered by Kansas Housing Resources Corporation, has been allocated $56.6 million through the American Rescue Plan Act to help low- and moderate-income homeowners avoid foreclosure and get caught up. Lender participation is a vital component. CNB registered early CNB is one of the early loan servicer participants approved to receive KHAF payments, which are designed to prevent “A BLESSING” FOR LOW-INCOME HOMEOWNERS foreclosures in Kansas. The bank has already received one payment, bringing an elderly customer with health concerns current on her mortgage. “It’s a blessing for her,” says Cannady. There are four more CNB customer applications in the KHAF pipeline. Since all payments go directly to the delinquent account, not the homeowner, it’s vital for banks, credit unions and other loan servicers to get registered. “It benefits us, too,” Cannady says. “It helps the homeowner, and we avoid having a delinquent loan on our books.” “We signed up to be an approved servicer when a customer requested it,” says Cannady. A homeowner in need must apply, but applications can only be considered if the lender also participates by registering with the program. Register only once Marilyn Stanley, KHAF Program Manager at Kansas Housing Resources Corporation, says that any bank or other loan servicers with mortgages for homes in Kansas can get set up. “It’s easy to get registered, with just a few forms to submit, and then an online portal for payment information,” says Stanley. This makes the homeowner application process much smoother and facilitates payments. Track progress in real-time Once a servicer is approved, “The rest is easy,” says Cannady. The bank receives cbak.com 10 In Touch
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