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w.ri-:,~. <br />B. The Division will use the California Department of Housing and <br />Community Development's website to determine if owners are paying <br />registration fees in a timely manner. Owners who fail to do so will be <br />contacted by Division staff. <br />VI. Owner-OccupancX <br />A. On an annual basis, the Division will mail a certified letter to all CalHome ,/ <br />borrowers requesting verification that they are still occupying the home as' <br />their principal residence. <br />B. Verification from the borrower will be kept on file. <br />VII. Hazard Insurance <br />A. The Division will require that the City be added as an additional <br />mortgagee for hazard and, if applicable flood insurance policies. <br />B. To ensure that insurance requirements are satisfied for the term of the <br />loan, the Division will: <br />1. Utilize its existing tracking/tickler system for reviewing <br />insurance renewal notices; <br />2. Follow its existing procedure of funding insurance on behalf of <br />borrowers who fail to maintain such insurance, and adding the <br />cost of that insurance to the loan balance. <br />VIII. Demands and Pavoffs <br />A. In accordance with existing procedure and its contract with AmeriNational <br />Corporation, the Division will request that demand computations be done <br />by AmeriNational, but will review those computations for accuracy. <br />Demands will continue to be approved by the Division before transmittal <br />to the borrower. <br />B. The Division will continue to process reconveyances and lien releases in <br />accordance with City policy and existing procedures. The City will <br />maintain access to a notary public. <br />` IX. Collection and Receipt of Payments <br />A. The Division will continue to follow existing procedures and the terms of <br />its contract with AmeriNational Corporation to collect and record <br />borrower payments of principal and interest. <br />B. The City of Santa Ana and AmeriNational Corporation have and will <br />maintain the necessary controls and separation of duties to insure the <br />integrity of their accounting systems. <br />C. AmeriNational will continue to maintain a readily accessible tracking <br />system for the loans it services for the City of Santa Ana. <br />D. AmeriNational will continue to generate yearly statements and 1099s in an <br />accurate and timely manner. <br />E. The Division does not anticipate creation of impound accounts for <br />program borrowers. Should it do so, the Division would act through <br />AmeriNational to create and maintain such accounts. <br />\\cda-ch\user$\MAguilar\Desktop\Loan Servicing Plan 2008.docx <br />