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 will 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 tribally designated housing entities (collectively the eligible entities) to mitigate financial hardships associated with the coronavirus pandemic, 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…