California § 51349.5 - The agency shall adopt guidelines for the Disaster Rebuilding Assistance Program

§ 51349.5. The agency shall adopt guidelines for the Disaster Rebuilding Assistance Program

(a) The agency shall adopt guidelines for the Disaster Rebuilding Assistance Program that include, but are not limited to, all of the following: (1) Eligibility criteria, including, but not limited to, all of the following: (A) Verification that the home was damaged or destroyed in a qualified disaster. (B) Proof of ownership or occupation as a primary residence at the time of the disaster. (C) Intent to owner-occupy the property as a primary residence within 60 days of construction completion. (D) (i) Ownership by a natural person. (ii) Properties may be eligible if the homeowner has transferred their ownership interest into a living trust, provided the homeowner remains a beneficiary of such trust and occupies the home as their primary residence. (E) Property type, including, but not limited to: (i) Single family properties. (ii) Planned unit developments. (iii) Individual condominium units. (iv) Properties containing four or fewer units. (v) Accessory dwelling units. (vi) Manufactured homes that are permanently affixed to real property and land owned by borrower. (2) Prioritization of rebuilding assistance based on each of the following criteria: (A) Communities with the highest percentage of destroyed housing. (B) Communities with the greatest unmet disaster-related reconstruction needs. (3) Incentives for borrowers at the greatest risk of displacement due to heightened difficulty to obtain or afford financing to rebuild their homes without assistance. (4) Income limit requirements based on borrower income. (5) Underwriting standards, collateral requirements, minimum borrower equity provisions, and risk-sharing structures consistent with prudent financial practice. (6) Consumer education components. (7) Safeguards against predatory, discriminatory, or unlawful lending practices. (8) Public outreach requirements, including, but not limited to, all of the following: (A) Language access. (B) Coordination with community organizations. (C) Proactive components to ensure awareness among disaster-impacted community members. (9) Lender qualification standards, including, but not limited to, both of the following: (A) Current and proper licensure. (B) (i) Approval by a federal housing agency, such as the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac). (ii) Eligible lenders may also include community development financial institutions certified by the United States Department of the Treasury or other lenders not approved by Fannie Mae, Freddie Mac, or the Federal Housing Administration subject to program review and approval. Program staff shall consider lender experience, financial capacity, and operational readiness in determining eligibility. (10) Limitations on lender fees. (b) Guidelines, policies, procedures, and regulations issued pursuant to this chapter shall not be subject to Chapter 3.5 (commencing with Section 11340) of Part 1 of Division 3 of Title 2 of the Government Code.