Fla. Admin. Code Ann. R. 67-59.005 - Definitions

(1) "Applicant" means a person who has applied for Hardest Hit Fund assistance.

(2) "Florida Housing" means the Florida Housing Finance Corporation as defined in Section 420.503, F.S.

(3) "Hardest Hit Fund" means the Housing Finance Agency Innovation Fund for the Hardest Hit Housing Markets as established by the U.S. Treasury.

(4) "Programs" mean the Unemployment Mortgage Assistance Program (UMAP), the Mortgage Loan Reinstatement Program (MLRP) and the Principal Reduction (PR) Program created under the Hardest Hit Fund.

(5) "Substantially Underemployed" means having a reduction in income of at least 10% due to an employment-related hardship.

(6) "U.S. Treasury" means the United States Department of the Treasury.

(7) "Unencumbered Assets" means assets including savings, checking and money market accounts, certificates of deposit, stocks, bonds, mutual funds, taxable investment accounts and cash, but does not include qualified retirement accounts such as an IRA, 401(k), 403(b) and 457 and Keough Accounts. It also does not include qualified education accounts such as a Florida Prepaid College Plan, 529 accounts and Coverdell Education Savings Accounts.

Notes

Fla. Admin. Code Ann. R. 67-59.005

Rulemaking Authority 420.507(33) FS. Law Implemented 420.507(33) FS.

New 12-4-12, Amended 12-12-2013.

New 12-4-12, Amended 12-12-13.