Homeowner Assistance Fund

Section 3206 of the American Rescue Plan Act of 2021, (the “Act”), Pub. L. No. 117-2 (March 11, 2021) established the $9.961 billion Homeowner Assistance Fund (“HAF”). Under HAF, Treasury is authorized to make payments directly to States (defined to include the District of Columbia, the Commonwealth of Puerto Rico, the United States Virgin Islands, Guam, the Commonwealth of the Northern Mariana Islands, and American Samoa), the Department of Hawaiian Home Lands (DHHL), and Indian Tribes or their Tribally designated housing entities, as applicable (collectively the “eligible entities”) to mitigate financial hardships associated with the coronavirus pandemic, including for the purpose of preventing homeowner mortgage delinquencies, defaults, foreclosures, loss of utilities or home energy services, and displacements of homeowners experiencing financial hardship after January 21, 2020, through qualified expenses related to mortgages and housing. States, the District of Columbia, and U.S. Territories were required to request HAF funding from Treasury no later than April 25, 2021, which was 45 days after enactment of the Act, in order to receive an award under the HAF program. Tribes or their Tribally designated housing entities, as applicable, and the DHHL were required to request HAF funding from Treasury by December 15, 2021, to receive an award under the HAF program. No new awards are being made but existing projects are still active.