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PHFA provides final data for 2020 Pandemic Mortgage Assistance Program

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HARRISBURG, Pa., Dec. 31, 2020 /PRNewswire/ — After five months of administering CARES financial assistance for homeowners, the Pennsylvania Housing Finance Agency is providing final summary data about the performance of the Pandemic Mortgage Assistance Program, which started accepting applications on July 6. The initial program deadline was Sept. 30, but that deadline was extended by an executive order from Governor Tom Wolf on Oct. 5. As a result, PMAP accepted applications through Nov. 4.

PMAP was fully administered by PHFA. A table providing county-by-county data for PMAP is available on the PHFA website.

“The final data show that we were able to help more than 2,600 homeowners with their mortgage payments by distributing more than $10.1 million in CARES assistance,” said PHFA Executive Director and CEO Robin Wiessmann. “While we would have liked to have helped even more homeowners, this still is a significant achievement that has made a positive difference in the lives of the people who were assisted.”

Background Information
The federal Coronavirus Aid, Relief and Economic Security (CARES) Act, passed in March, provided $3.9 billion for Pennsylvania. In late May, the General Assembly directed $175 million of these CARES dollars to PHFA to provide assistance for struggling renters and homeowners. The portion for rent assistance was at least $150 million, and $25 million was set aside for mortgage assistance.

During June 2020, PHFA quickly developed two detailed, statewide programs for distributing this financial assistance expeditiously to renters and homeowners in need, following legislative requirements. This effort included extensive coordination with the organizations in all 67 counties that processed the renters' applications. The CARES Rent Relief Program and the Pandemic Mortgage Assistance Program were both launched on schedule on June 29, as was required in the state CARES Act. In accordance with the act, funding for renters had to be completely distributed by Nov. 30, 2020.

Ongoing Questions from Applicants
Applicants with ongoing questions about their applications for rent relief should reach out to the organization in their county that processed their application. A county contact list with phone numbers, emails and street addresses is available on the PHFA homepage at www.PHFA.org; look for the picture box with the green Pennsylvania state outline.

Questions from homeowners about their PMAP application should be directed to PHFA. The agency's call center is available weekdays from 8 a.m. to 5 p.m. to assist the public and help with questions about PMAP. The toll-free number is 1-855-U-Are-Home (827-3466). Of course, PHFA is also getting calls from renters and is assisting them, too.

About PHFA
The Pennsylvania Housing Finance Agency works to provide affordable homeownership and rental housing options for older adults, low- and moderate-income families, and people with special housing needs. Through its carefully managed mortgage programs and investments in multifamily housing developments, PHFA also promotes economic development across the state. Since its creation by the legislature in 1972, it has generated nearly $15 billion of funding for more than 180,750 single-family home mortgage loans, helped fund the construction of 138,000 rental units, distributed more than $121 million to support local housing initiatives, and saved the homes of nearly 50,400 families from foreclosure. PHFA programs and operations are funded primarily by the sale of securities and from fees paid by program users, not by public tax dollars. The agency is governed by a 14-member board.

Media contact:
Scott Elliott
selliott@phfa.org
717-649-6522 (cell)

 

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/phfa-provides-final-data-for-2020-pandemic-mortgage-assistance-program-301199734.html

SOURCE Pennsylvania Housing Finance Agency

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