Background_NN1 
The_AT0 Agency_NN1 is_VBZ a_AT0 corporate_AJ0 governmental_AJ0 Agency_NN1 ,_PUN constituting_VVG a_AT0 public_AJ0 benefit_NN1 corporation_NN1 and_CJC a_AT0 component_AJ0 unit_NN1 of_PRF the_AT0 State_NN1 of_PRF New_NP0 York_NP0 (_PUL the_AT0 "_PUQ State_NN1 "_PUQ )_PUR ._SENT The_AT0 Agency_NN1 and_CJC its_DPS corporate_AJ0 existence_NN1 shall_VM0 continue_VVI until_CJS terminated_VVN by_PRP law_NN1 ;_PUN provided_VVD ,_PUN however_AV0 ,_PUN that_DT0 n•_NN1 such_DT0 law_NN1 shall_VM0 take_VVI effect_NN1 s•_NN1 long_AV0 as_CJS the_AT0 Agency_NN1 has_VHZ bonds_NN2 ,_PUN notes_NN2 or_CJC other_AJ0 obligations_NN2 outstanding_AJ0 ._SENT 
The_AT0 Agency_NN1 has_VHZ tw•_AJ0 primary_AJ0 lines_NN2 of_PRF operations_NN2 :_PUN Single_AJ0 Family_NN1 Operations_NN2 and_CJC Mortgage_NN1 Insurance_NN1 Fund_NN1 Operations_NN2 ._SENT 
Single_AJ0 Family_NN1 Operations_NN2 are_VBB dedicated_AJ0 t•_NN2 providing_VVG affordable_AJ0 mortgage_NN1 financing_NN1 t•_NN1 New_NP0 York_NP0 State_NN1 home_NN1 purchasers_NN2 with_PRP low_AJ0 and_CJC moderate_AJ0 incomes_NN2 ._SENT The_AT0 Agency_NN1 provides_VVZ such_DT0 financing_NN1 through_PRP a_AT0 network_NN1 of_PRF participating_AJ0 lenders_NN2 for_PRP the_AT0 purchase_NN1 of_PRF newly_AV0 constructed_AJ0 and_CJC existing_AJ0 homes_NN2 ;_PUN homes_NN2 in_PRP need_NN1 of_PRF renovation_NN1 ;_PUN permanently_AV0 affixed_VVN manufactured_AJ0 homes_NN2 and_CJC financing_VVG for_PRP cooperatives_NN2 and_CJC condominiums_NN2 ._SENT 
Mortgage_NN1 Insurance_NN1 Fund_NN1 (_PUL the_AT0 "_PUQ MIF_NN1 "_PUQ )_PUR Operations_NN2 are_VBB dedicated_AJ0 t•_NN1 providing_VVG mortgage_NN1 insurance_NN1 for_PRP multi‐_AJ0 family_NN1 affordable_AJ0 residential_AJ0 projects_NN2 and_CJC special_AJ0 care_NN1 facilities_NN2 ,_PUN as_CJS well_AV0 as_CJS providing_VVG pool_NN1 and_CJC primary_AJ0 mortgage_NN1 insurance_NN1 on_PRP single_AJ0 family_NN1 mortgages_NN2 purchased_VVN by_PRP the_AT0 Agency_NN1 ._SENT 
The_AT0 Student_NN1 Loan_NN1 Program_NN1 was_VBD established_VVN in_PRP order_NN1 t•_NN1 offer_NN1 education_NN1 loans_NN2 t•_VVB eligible_AJ0 students_NN2 attending_VVG colleges_NN2 and_CJC universities_NN2 in_PRP the_AT0 State_NN1 ._SENT The_AT0 program_NN1 has_VHZ been_VBN on_PRP hiatus_NN1 since_PRP fiscal_AJ0 2012._CRD There_EX0 have_VHB not_XX0 been_VBN any_DT0 Student_NN1 Loan_NN1 purchases_NN2 since_PRP May_NP0 1_CRD ,_PUN 2012._CRD 
In_PRP 2016_CRD ,_PUN legislation_NN1 was_VBD adopted_VVN at_PRP the_AT0 State_NN1 level_NN1 t•_NN1 authorize_VVB the_AT0 creation_NN1 of_PRF a_AT0 program_NN1 t•_NN1 assist_VVB homeowners_NN2 affected_VVN by_PRP the_AT0 national_AJ0 mortgage_NN1 crisis_NN1 wh•_NN1 are_VBB either_AV0 delinquent_AJ0 on_PRP their_DPS mortgage_NN1 payments_NN2 or_CJC in_PRP danger_NN1 of_PRF going_VVG int•_NN1 default_NN1 ._SENT The_AT0 legislation_NN1 created_VVD the_AT0 New_AJ0 York_NP0 State_NN1 Community_NN1 Restoration_NN1 Fund_NN1 as_PRP a_AT0 new_AJ0 fund_NN1 t•_NN1 be_VBI held_VVN by_PRP SONYMA_NN1 and_CJC t•_NN1 be_VBI managed_VVN by_PRP a_AT0 newly_AV0 created_AJ0 subsidiary_NN1 of_PRF SONYMA_NN1 called_VVD the_AT0 SONYMA_NN1 Community_NN1 Restoration_NN1 Fund_NN1 (_PUL "_PUQ CRF_NP0 "_PUQ )_PUR ._SENT Monies_NN2 in_PRP this_DT0 fund_NN1 are_VBB not_XX0 t•_NN1 be_VBI commingled_AJ0 with_PRP any_DT0 other_AJ0 monies_NN2 of_PRF SONYMA_NN1 ._SENT The_AT0 Agency_NN1 currently_AV0 owns_VVZ 570_CRD defaulted_AJ0 mortgage_NN1 loans_NN2 as_PRP a_AT0 partner_NN1 in_PRP a_AT0 joint_AJ0 venture_NN1 with_PRP New_NP0 Jersey_NP0 Community_NN1 Capital_NN1 (_PUL NJCC‐NYS_NP0 Community_NN1 Restoration_NN1 Fund_NN1 ,_PUN L.L.C._NP0 )_PUR ,_PUN a_AT0 nationally_AV0 recognized_VVN nonprofit_AJ0 specializing_VVG in_PRP assisting_VVG troubled_AJ0 homeowners_NN2 ._SENT The_AT0 Agency_NN1 has_VHZ received_VVN $_NN0 22.4_CRD million_CRD t•_NN1 date_NN1 and_CJC has_VHZ invested_VVN $_NN0 10.5_CRD million_CRD int•_NN1 the_AT0 partnership_NN1 ._SENT In_PRP addition_NN1 ,_PUN the_AT0 Agency_NN1 invested_VVD $_NN0 1.3_CRD million_CRD int•_NN1 a_AT0 partnership_NN1 with_PRP a_AT0 nonprofit_AJ0 organization_NN1 ,_PUN the_AT0 Center_NN1 for_PRP New_NP0 York_NP0 City_NN1 Neighborhoods_NN2 ,_PUN through_PRP its_DPS wholly_AV0 owned_VVN subsidiary_AJ0 and_CJC CDFI_AJ0 ,_PUN Sustainable_AJ0 Neighborhoods_NN2 LLC_NP0 ,_PUN t•_NN1 establish_VVB a_AT0 pilot_NN1 program_NN1 aimed_VVN t•_NN1 assist_VVI homeowners_NN2 at_PRP risk_NN1 of_PRF foreclosure_NN1 by_PRP offering_VVG them_PNP a_AT0 refinanced_VVN mortgage_NN1 at_PRP affordable_AJ0 terms_NN2 ._SENT 
Single_AJ0 Family_NN1 Operations_NN2 Highlights_VVZ General_AJ0 
Fiscal_AJ0 2020_CRD saw_VVD continued_AJ0 uncertainty_NN1 in_PRP the_AT0 housing_NN1 market_NN1 coupled_VVN with_PRP the_AT0 lingering_AJ0 impact_NN1 of_PRF the_AT0 Federal_AJ0 Reserve_NN1 's_POS post‐Financial_AJ0 Crisis_NN1 monetary_AJ0 policy_NN1 impacting_VVG SONYMA_NP0 's_POS ability_NN1 t•_NN1 maintain_VVB its_DPS traditional_AJ0 interest_NN1 rate_NN1 advantage_NN1 ._SENT Fiscal_AJ0 2020_CRD als•_NN1 saw_VVD the_AT0 global_AJ0 outbreak_NN1 of_PRF COVID‐19_NN1 ,_PUN a_AT0 respiratory_AJ0 disease_NN1 declared_VVD t•_NN1 be_VBI a_AT0 pandemic_AJ0 (_PUL the_AT0 "_PUQ Pandemic_AJ0 "_PUQ )_PUR by_PRP the_AT0 World_NN1 Health_NN1 Organization_NN1 ,_PUN which_DTQ is_VBZ affecting_VVG the_AT0 capital_NN1 markets_NN2 and_CJC which_DTQ t•_NN1 an_AT0 unknown_AJ0 extent_NN1 may_VM0 negatively_AV0 impact_VVB the_AT0 New_NP0 York_NP0 State_NP0 's_POS housing_NN1 market_NN1 and_CJC its_DPS overall_AJ0 economy_NN1 ._SENT 
Despite_PRP continued_AJ0 aggressive_AJ0 efforts_NN2 t•_NN1 reduce_VVB the_AT0 Agency_NN1 's_POS cost_NN1 of_PRF funds_NN2 and_CJC offer_VVB the_AT0 most_AV0 competitively_AV0 priced_VVN mortgages_NN2 on_PRP the_AT0 market_NN1 in_PRP the_AT0 State_NN1 ,_PUN SONYMA_NP0 's_POS loan_NN1 production_NN1 decreased_VVN slightly_AV0 from_PRP the_AT0 high_AJ0 levels_NN2 seen_VVN in_PRP fiscal_AJ0 year_NN1 2018_CRD and_CJC 2019._CRD During_PRP fiscal_AJ0 year_NN1 2020_CRD ,_PUN SONYMA_NP0 assisted_VVD 1_CRD ,_PUN 322_CRD low_AJ0 and_CJC moderate‐_AJ0 income_NN1 households_NN2 (_PUL compared_VVN t•_NN1 1_CRD ,_PUN 597_CRD households_NN2 in_PRP fiscal_AJ0 2019_CRD and_CJC 1_CRD ,_PUN 667_CRD households_NN2 in_PRP fiscal_AJ0 2018_NN0 )_PUR by_PRP purchasing_VVG $_NN0 289.5_CRD million_CRD in_PRP mortgage_NN1 loans_NN2 (_PUL compared_VVN t•_AJ0 $_NN0 331.9_CRD million_CRD in_PRP fiscal_AJ0 2019_CRD and_CJC $_NN0 339.4_CRD million_CRD in_PRP fiscal_AJ0 2018_CRD )_PUR ._SENT In_PRP fiscal_AJ0 year_NN1 2020_CRD ,_PUN the_AT0 Agency_NN1 funded_VVN 12.77_CRD %_NN0 less_AV0 in_PRP mortgage_NN1 loans_NN2 than_CJS during_PRP fiscal_AJ0 2019_CRD ,_PUN and_CJC 2.20_CRD %_NN0 lessthaninfiscalyear2018_NN0 ._SENT ThemajorityofthebondfinancedloanswerepurchasedunderSONYMA_NP0 's_POS tw•_AJ0 primary_AJ0 programs_NN2 ‐_NP0 Low_NP0 Interest_NN1 Rate_NN1 and_CJC Achieving_VVG the_AT0 Dream_NN1 ._SENT 
During_PRP fiscal_AJ0 2020_CRD ,_PUN the_AT0 Low_AJ0 Interest_NN1 Rate_NN1 Program_NN1 provided_CJS financing_VVG t•_NN1 366_CRD households_NN2 (_PUL compared_VVN t•_NN1 292_CRD households_NN2 in_PRP fiscal_AJ0 2019_CRD and_CJC 457_CRD in_PRP fiscal_AJ0 2018_CRD )_PUR ,_PUN and_CJC the_AT0 Achieving_VVG the_AT0 Dream_NN1 Program_NN1 ,_PUN which_DTQ assists_VVZ lower‐income_AJ0 homebuyers_NN2 (_PUL 80_CRD %_NN0 of_PRF area_NN1 median_AJ0 income_NN1 or_CJC less_AV0 )_PUR ,_PUN provided_CJS financing_VVG for_PRP 934_CRD households_NN2 (_PUL compared_VVN t•_NN1 1_CRD ,_PUN 130_CRD households_NN2 in_PRP fiscal_AJ0 2019_CRD and_CJC 1_CRD ,_PUN 093_CRD in_PRP fiscal_AJ0 2018_CRD )_PUR ._SENT The_AT0 continuing_AJ0 success_NN1 of_PRF the_AT0 Achieving_VVG the_AT0 Dream_NN1 Program_NN1 ,_PUN which_DTQ continues_VVZ t•_NN1 outperform_VVI the_AT0 Low_AJ0 Interest_NN1 Rate_NN1 Program_NN1 in_PRP terms_NN2 of_PRF production_NN1 ,_PUN continues_VVZ t•_NN1 signal_NN1 the_AT0 success_NN1 of_PRF the_AT0 Agency_NN1 ,_PUN even_AV0 in_PRP a_AT0 period_NN1 of_PRF market_NN1 volatility_NN1 ,_PUN in_PRP assisting_AJ0 borrowers_NN2 wh•_NN1 would_VM0 otherwise_AV0 find_VVI it_PNP difficult_AJ0 t•_NN1 attain_VVB homeownership_NN1 ._SENT Of_PRF the_AT0 loans_NN2 purchased_VVN under_PRP all_DT0 of_PRF the_AT0 Agency_NN1 's_POS programs_NN2 ,_PUN 888_CRD borrowers_NN2 (_PUL 67.17_CRD %_NN0 )_PUR received_VVD down_AVP payment_NN1 assistance_NN1 totaling_VVG $_NN0 6.6_CRD million_CRD in_PRP fiscal_AJ0 year_NN1 2020_CRD ,_PUN compared_VVD t•_NN1 934_CRD borrowers_NN2 ,_PUN totaling_VVG $_NN0 6.9_CRD million_CRD in_PRP fiscal_AJ0 2019_CRD and_CJC 898_CRD borrowers_NN2 ,_PUN totaling_VVG $_NN0 20.3_CRD million_CRD in_PRP fiscal_AJ0 2018._CRD 
SONYMA_NN1 continues_VVZ t•_NN1 provide_VVI financing_VVG t•_AJ0 underserved_AJ0 populations_NN2 and_CJC communities_NN2 ._SENT In_PRP fiscal_AJ0 year_NN1 2020_CRD ,_PUN 930_CRD loans_NN2 were_VBD made_VVN t•_AJ0 low‐income_AJ0 households_NN2 and_CJC 454_CRD loans_NN2 were_VBD made_VVN t•_AJ0 minorities_NN2 ,_PUN compared_VVN t•_NN1 1_CRD ,_PUN 181_CRD and_CJC 537_CRD respectively_AV0 in_PRP fiscal_AJ0 2019_CRD as_CJS well_AV0 as_CJS 811_CRD and_CJC 561_CRD respectively_AV0 in_PRP fiscal_AJ0 2018._CRD In_PRP addition_NN1 ,_PUN 171_CRD loans_NN2 were_VBD made_VVN t•_AJ0 households_NN2 buying_VVG in_PRP Federally_AV0 designated_AJ0 target_NN1 areas_NN2 ,_PUN up_AVP from_PRP 169_CRD in_PRP fiscal_AJ0 2019_CRD and_CJC 203_CRD the_AT0 prior_AJ0 year_NN1 ._SENT 
During_PRP fiscal_AJ0 2020_CRD ,_PUN SONYMA_NP0 continued_VVD t•_NN1 better_AV0 serve_VVB its_DPS borrowers_NN2 and_CJC industry_NN1 partners_NN2 by_PRP :_PUN 
•_PUN Focusing_VVG its_DPS efforts_NN2 on_PRP Low‐Income_NN1 and_CJC Minority_NN1 Homebuyers_NN2 :_PUN The_AT0 Agency_NN1 directed_VVD its_DPS energies_NN2 towards_PRP providing_VVG mortgage_NN1 loans_NN2 t•_NN1 those_DT0 individuals_NN2 and_CJC families_NN2 for_PRP whom_PNQ SONYMA_NN1 mortgages_NN2 make_VVB the_AT0 difference_NN1 in_PRP achieving_VVG sustainable_AJ0 homeownership_NN1 ._SENT This_DT0 was_VBD accomplished_VVN by_PRP continuing_AJ0 t•_NN1 target_NN1 mortgage_NN1 financing_NN1 activities_NN2 on_PRP the_AT0 Achieving_VVG the_AT0 Dream_NN1 Program_NN1 ,_PUN which_DTQ assists_VVZ lower‐_AJ0 income_NN1 homebuyers_NN2 ._SENT In_PRP fiscal_AJ0 year_NN1 2020_CRD ,_PUN 934_CRD of_PRF the_AT0 Agency_NN1 's_POS mortgages_NN2 were_VBD originated_VVN under_PRP this_DT0 program_NN1 ,_PUN keeping_VVG close_AJ0 pace_NN1 with_PRP 1_CRD ,_PUN 130_CRD in_PRP 2019_CRD and_CJC 1_CRD ,_PUN 093_CRD in_PRP 2018._CRD 
•_PUN Continuing_AJ0 t•_NN1 promote_VVB and_CJC expand_VVB the_AT0 reach_NN1 of_PRF the_AT0 Conventional_AJ0 Plus_NN1 Program_NN1 in_PRP fiscal_AJ0 2020_CRD :_PUN Conventional_AJ0 Plus_NN1 was_VBD launched_VVN in_PRP November_NP0 2012_CRD and_CJC complements_VVZ SONYMA_NP0 's_POS existing_AJ0 tax‐_NN1 exempt_AJ0 bond_NN1 financed_VVN programs_NN2 and_CJC the_AT0 FHA_NN1 Plus_NN1 Program_NN1 described_VVD below_AV0 ._SENT The_AT0 product_NN1 takes_VVZ advantage_NN1 of_PRF certain_AJ0 pricing_NN1 and_CJC underwriting_NN1 benefits_NN2 afforded_VVD t•_AJ0 SONYMA_NN1 by_PRP Fannie_NP0 Mae_NP0 ._SENT The_AT0 features_NN2 of_PRF Conventional_AJ0 Plus_NN1 are_VBB as_CJS follows_VVZ :_PUN 
•_PUN Lower_AJC mortgage_NN1 insurance_NN1 coverage_NN1 requirements_NN2 than_CJS standard_AJ0 loans_NN2 ;_PUN 
•_PUN The_AT0 availability_NN1 of_PRF mortgage_NN1 insurance_NN1 provided_VVN by_PRP Genworth_NP0 Mortgage_NN1 Insurance_NN1 (_PUL or_CJC 
SONYMA_NP0 's_POS MIF_NN1 ,_PUN in_PRP the_AT0 event_NN1 that_CJT Genworth_NP0 is_VBZ unwilling_AJ0 t•_NN1 insure_VVB the_AT0 loan_NN1 )_PUR ;_PUN and_CJC 
•_PUN Down_NP0 payment_NN1 and_CJC /_PUN or_CJC closing_AJ0 cost_NN1 assistance_NN1 up_PRP t•_NN1 3_CRD %_NN0 of_PRF the_AT0 home_NN1 purchase_NN1 price_NN1 (_PUL SONYMA_NP0 allows_VVZ its_DPS Down_NP0 Payment_NN1 Assistance_NN1 Loan_NN1 t•_NN1 be_VBI used_VVN t•_NN1 pay_VVI a_AT0 one‐time_AJ0 upfront_AJ0 mortgage_NN1 insurance_NN1 premium_NN1 ,_PUN thus_AV0 eliminating_VVG the_AT0 monthly_AJ0 mortgage_NN1 insurance_NN1 premium_NN1 and_CJC 
significantly_AV0 lowering_VVG the_AT0 monthly_AJ0 payment_NN1 )_PUR ._SENT 
The_AT0 product_NN1 is_VBZ available_AJ0 for_PRP home_NN1 purchases_NN2 and_CJC for_PRP limited_AJ0 cash‐out_NN1 refinances_NN2 ._SENT 
Under_PRP Conventional_AJ0 Plus_NN1 ,_PUN 33_CRD mortgages_NN2 of_PRF $_NN0 3.94_CRD million_CRD in_PRP total_AJ0 principal_NN1 and_CJC $_NN0 13.4_CRD thousand_CRD in_PRP Down_NP0 Payment_NN1 Assistance_NN1 were_VBD originated_VVN in_PRP fiscal_AJ0 year_NN1 2020._CRD In_PRP addition_NN1 ,_PUN as_CJS of_PRF October_NP0 31_CRD ,_PUN 2020_CRD ,_PUN the_AT0 Agency_NN1 had_VHD 29_CRD mortgages_NN2 of_PRF $_NN0 3.1_CRD million_CRD in_PRP total_AJ0 principal_NN1 and_CJC $_NN0 35.9_CRD thousand_CRD in_PRP Down_NP0 Payment_NN1 Assistance_NN1 in_PRP its_DPS pipeline_NN1 ._SENT 
•_PUN Continuing_AJ0 t•_NN1 promote_VVB and_CJC expand_VVB the_AT0 footprint_NN1 of_PRF the_AT0 FHA_NN1 Plus_PRP Program_NN1 SONYMA_NN1 launched_VVN in_PRP December_NP0 2013._CRD Complementing_VVG SONYMA_NP0 's_POS existing_AJ0 tax‐exempt_NN1 bond_NN1 financed_VVN programs_NN2 and_CJC the_AT0 Conventional_AJ0 Plus_NN1 Program_NN1 ,_PUN FHA_NN1 Plus_NN1 takes_VVZ advantage_NN1 of_PRF a_AT0 special_AJ0 exemption_NN1 from_PRP HUD_NN1 that_CJT enables_VVZ state_NN1 housing_NN1 finance_NN1 agencies_NN2 t•_NN1 offer_VVB down_AVP payment_NN1 assistance_NN1 on_PRP FHA‐insured_AJ0 mortgages_NN2 ,_PUN where_CJS the_AT0 down_AVP payment_NN1 assistance_NN1 may_VM0 be_VBI used_VVN towards_PRP the_AT0 borrower_NN1 's_POS minimum_AJ0 cash_NN1 investment_NN1 ._SENT The_AT0 benefits_NN2 of_PRF FHA_NN1 Plus_NN1 are_VBB :_PUN 
•_PUN Eligible_AJ0 borrowers_NN2 d•_VVB not_XX0 have_VHI t•_NN1 be_VBI first‐time_AJ0 homebuyers_NN2 ;_PUN •_PUN N•_NP0 income_NN1 or_CJC purchase_NN1 price_NN1 limits_NN2 ;_PUN and_CJC 
•_PUN Availability_NN1 of_PRF SONYMA_NN1 down_PRP payment_NN1 assistance_NN1 :_PUN 
•_PUN for_PRP purchase_NN1 transactions_NN2 ,_PUN up_PRP t•_NN1 3_CRD %_NN0 of_PRF the_AT0 home_NN1 purchase_NN1 price_NN1 ._SENT 
•_PUN for_PRP refinance_VVB transactions_NN2 ,_PUN up_PRP t•_NN1 3_CRD %_NN0 of_PRF the_AT0 lower_AJC of_PRF the_AT0 unpaid_AJ0 principal_AJ0 balance_NN1 or_CJC the_AT0 
appraised_AJ0 value_NN1 ._SENT (_PUL The_AT0 assistance_NN1 may_VM0 be_VBI used_VVN as_PRP a_AT0 credit_NN1 against_PRP closing_VVG costs_NN2 and_CJC be_VBI prepaid_AJ0 ._SENT )_PUR 
Under_PRP this_DT0 program_NN1 ,_PUN 172_CRD mortgages_NN2 of_PRF $_NN0 32.76_CRD million_CRD in_PRP total_AJ0 principal_NN1 and_CJC $_NN0 1.0_CRD million_CRD in_PRP Down_NP0 Payment_NN1 Assistance_NN1 were_VBD originated_VVN in_PRP fiscal_AJ0 year_NN1 2020._CRD In_PRP addition_NN1 ,_PUN as_CJS of_PRF October_NP0 31_CRD ,_PUN 2020_CRD ,_PUN the_AT0 Agency_NN1 had_VHD 177_CRD mortgages_NN2 of_PRF $_NN0 42.7_CRD million_CRD in_PRP total_AJ0 principal_NN1 and_CJC $_NN0 1.27_CRD million_CRD in_PRP Down_NP0 Payment_NN1 Assistance_NN1 in_PRP its_DPS pipeline_NN1 ._SENT 
•_PUN The_AT0 Agency_NN1 has_VHZ continued_VVN t•_NN1 enhance_VVI the_AT0 SONYMA_NN1 Express_NN1 ®_NN0 automated_AJ0 system_NN1 that_CJT was_VBD developed_VVN t•_NN1 assist_VVI participating_AJ0 lenders_NN2 by_PRP providing_VVG expedited_AJ0 decisions_NN2 on_PRP SONYMA_NP0 loan_NN1 eligibility_NN1 ._SENT The_AT0 system_NN1 has_VHZ :_PUN (_PUL a_AT0 )_PUR streamlined_VVD the_AT0 Agency_NN1 's_POS loan_NN1 origination_NN1 process_NN1 and_CJC dramatically_AV0 reduced_VVN the_AT0 time_NN1 it_PNP takes_VVZ participating_AJ0 lenders_NN2 t•_NN1 originate_VVB SONYMA_NN1 loans_NN2 ;_PUN (_PUL b_ZZ0 )_PUR eliminated_AJ0 uncertainty_NN1 of_PRF a_AT0 borrower_NN1 's_POS eligibility_NN1 early_AJ0 in_PRP the_AT0 mortgage_NN1 application_NN1 process_NN1 ;_PUN (_PUL c_ZZ0 )_PUR lowered_AJ0 overall_AJ0 lender_NN1 costs_NN2 ;_PUN and_CJC (_PUL d_ZZ0 )_PUR provided_CJS lenders_NN2 with_PRP the_AT0 capacity_NN1 t•_NN1 submit_VVB electronic_AJ0 loan_NN1 files_NN2 t•_VVB the_AT0 Agency_NN1 ,_PUN thus_AV0 eliminating_VVG the_AT0 need_NN1 t•_NN1 submit_VVB paper_NN1 files_NN2 ._SENT Continued_AJ0 efforts_NN2 t•_NN1 improve_VVB user_NN1 experience_NN1 through_PRP SONYMA_NP0 Express_NN1 ®_NN0 ,_PUN resulted_VVN in_PRP all_DT0 but_CJC 2_CRD lenders_NN2 opting_VVG t•_NN1 use_VVB the_AT0 system_NN1 in_PRP 2020._CRD It_PNP is_VBZ anticipated_VVN that_CJT approximately_AV0 95_CRD %_NN0 of_PRF the_AT0 SONYMA_NN1 volume_NN1 will_VM0 come_VVI through_PRP SONYMA_NN1 Express_NN1 ®_NN0 in_PRP fiscal_AJ0 year_NN1 2021_CRD as_PRP a_AT0 result_NN1 ._SENT 
•_PUN Continuing_AJ0 t•_NN1 work_NN1 with_PRP SONYMA_NP0 's_POS Advisory_AJ0 Council_NN1 in_PRP gathering_VVG insights_NN2 and_CJC recommendations_NN2 on_PRP future_AJ0 direction_NN1 from_PRP expert_NN1 industry_NN1 professionals_NN2 ._SENT The_AT0 Council_NN1 helps_VVZ SONYMA_NN1 maximize_VVI its_DPS effectiveness_NN1 while_CJS simultaneously_AV0 providing_VVG a_AT0 forum_NN1 for_PRP knowledge‐sharing_NN1 and_CJC relationship_NN1 building_NN1 among_PRP different_AJ0 members_NN2 of_PRF SONYMA_NP0 's_POS distribution_NN1 and_CJC supply‐networks_NN2 ._SENT Due_AJ0 t•_NN1 the_AT0 pandemic_AJ0 ,_PUN the_AT0 on‐site_AJ0 Advisory_AJ0 Council_NN1 meetings_NN2 were_VBD canceled_AJ0 ,_PUN but_CJC monthly_AJ0 subcommittee_NN1 meetings_NN2 have_VHB continued_VVN virtually_AV0 ._SENT 
•_PUN Continuing_AJ0 Outreach_NN1 Efforts_NN2 t•_NN1 Industry_NN1 Partners_NN2 by_PRP participating_VVG in_AVP over_PRP 80_CRD events_NN2 across_PRP the_AT0 state_NN1 with_PRP homeownership_NN1 counseling_NN1 organizations_NN2 ,_PUN realtors_NN2 ,_PUN lenders_NN2 ,_PUN not‐for_NN1 profits_NN2 ,_PUN veterans_NN2 groups_NN2 ,_PUN community_NN1 groups_NN2 and_CJC others_NN2 in_PRP both_AV0 2019_CRD and_CJC 2020._CRD All_DT0 events_NN2 after_PRP March_NP0 1_CRD were_VBD attended_VVN virtually_AV0 ._SENT The_AT0 outreach_NN1 efforts_NN2 and_CJC collaboration_NN1 in_PRP planning_NN1 events_NN2 have_VHB deepened_VVN the_AT0 Agency_NN1 's_POS relationships_NN2 with_PRP its_DPS partners_NN2 in_PRP the_AT0 housing_NN1 community_NN1 and_CJC provided_VVD additional_AJ0 opportunities_NN2 t•_NN1 promote_VVB SONYMA_NN1 products_NN2 and_CJC services_NN2 ._SENT 
•_PUN Growing_VVG the_AT0 Neighborhood_NN1 Revitalization_NN1 Program_NN1 (_PUL NRP_NP0 )_PUR ._SENT In_PRP June_NP0 2016_CRD ,_PUN SONYMA_NP0 announced_VVD a_AT0 program_NN1 that_CJT leverages_VVZ $_NN0 22_CRD million_CRD in_PRP settlement_NN1 dollars_NN2 t•_NN1 aid_NN1 in_PRP the_AT0 purchase_NN1 and_CJC renovation_NN1 of_PRF vacant_AJ0 /_PUN abandoned_AJ0 homes_NN2 in_PRP neighborhoods_NN2 hard_AV0 hit_VVN by_PRP the_AT0 foreclosure_NN1 crisis_NN1 ._SENT The_AT0 program_NN1 was_VBD originally_AV0 launched_VVN in_PRP Kingston_NP0 ,_PUN Middletown_NP0 ,_PUN Troy_NP0 ,_PUN Rochester_NP0 ,_PUN certain_AJ0 parts_NN2 of_PRF New_NP0 York_NP0 City_NN1 and_CJC all_DT0 of_PRF Long_NP0 Island_NP0 due_AJ0 t•_NN1 their_DPS high_AJ0 level_NN1 of_PRF impact_NN1 from_PRP the_AT0 foreclosure_NN1 crisis_NN1 ;_PUN subsequently_AV0 ,_PUN the_AT0 program_NN1 was_VBD expanded_VVN int•_NN1 all_DT0 of_PRF Orange_AJ0 County_NN1 ,_PUN Rensselaer_NP0 County_NP0 ,_PUN Schenectady_NP0 County_NP0 ,_PUN Staten_NP0 Island_NP0 ,_PUN the_AT0 Bronx_NP0 and_CJC Buffalo_NP0 ._SENT In_PRP 2019_CRD ,_PUN SONYMA_NP0 added_VVD Broome_NP0 ,_PUN Clinton_NP0 ,_PUN Dutchess_NP0 ,_PUN Essex_NP0 ,_PUN Montgomery_NP0 ,_PUN Niagara_NP0 ,_PUN Oneida_NP0 ,_PUN Onondaga_NP0 ,_PUN Sullivan_NP0 ,_PUN Ulster_NP0 ,_PUN Warren_NP0 and_CJC Washington_NP0 Counties_NN2 ._SENT SONYMA_NP0 collaborated_VVD with_PRP various_AJ0 divisions_NN2 of_PRF HCR_NP0 ,_PUN nonprofits_NN2 based_VVN in_PRP the_AT0 communities_NN2 selected_VVN for_PRP this_DT0 pilot_NN1 program_NN1 ,_PUN local_AJ0 government_NN1 ,_PUN realtors_NN2 and_CJC SONYMA_AJ0 participating_AJ0 lenders_NN2 ._SENT NRP_NP0 enables_VVZ borrowers_NN2 t•_NN1 purchase_NN1 a_AT0 vacant_AJ0 home_NN1 and_CJC receive_VVB down_AVP payment_NN1 assistance_NN1 ,_PUN a_AT0 subsidized_AJ0 interest_NN1 rate_NN1 ,_PUN and_CJC $_NN0 20_CRD ,_PUN 000_CRD toward_PRP property_NN1 repairs_NN2 with_PRP the_AT0 ability_NN1 t•_NN1 finance_NN1 any_DT0 additional_AJ0 necessary_AJ0 repairs_NN2 int•_VVB the_AT0 loan_NN1 ._SENT In_PRP fiscal_AJ0 2020_CRD ,_PUN SONYMA_NP0 funded_VVD 338_CRD NRP_NP0 properties_NN2 investing_VVG over_PRP $_NN0 84.6_CRD million_CRD in_PRP the_AT0 effort_NN1 ._SENT 
•_PUN Expanding_VVG the_AT0 SONYMA_NN1 Spruce_VVB up_AVP Initiative_NN1 ._SENT SONYMA_NN1 Spruce_VVB Up_AVP is_VBZ an_AT0 event_NN1 in_PRP which_DTQ SONYMA_NN1 ,_PUN local_AJ0 nonprofit_AJ0 partners_NN2 ,_PUN lenders_NN2 ,_PUN sponsors_NN2 ,_PUN contractors_NN2 and_CJC neighborhood_NN1 associations_NN2 partner_NN1 t•_NN1 d•_NN1 a_AT0 one‐day_AJ0 exterior_AJ0 clean‐up_NN1 of_PRF a_AT0 targeted_AJ0 area_NN1 ._SENT SONYMA_NP0 held_VVD its_DPS first_ORD event_NN1 in_PRP the_AT0 Sheridan_NP0 Hollow_AJ0 neighborhood_NN1 in_PRP Albany_NP0 with_PRP the_AT0 assistance_NN1 of_PRF the_AT0 Affordable_AJ0 Housing_NN1 Partnership_NN1 and_CJC the_AT0 Sheridan_NP0 Hollow_NN1 Neighborhood_NN1 Association_NN1 in_PRP 2016._CRD This_DT0 pilot_NN1 was_VBD continued_VVN with_PRP another_DT0 four_CRD events_NN2 in_PRP 2017_CRD throughout_PRP New_NP0 York_NP0 State_NP0 ;_PUN four_CRD events_NN2 in_PRP 2018_CRD (_PUL Rochester_NP0 ,_PUN Queens_NP0 ,_PUN Walden_NP0 ,_PUN and_CJC Central_AJ0 Islip_NP0 )_PUR ;_PUN and_CJC four_CRD events_NN2 in_PRP 2019_CRD (_PUL Niagara_NP0 Falls_NP0 ,_PUN Bay_NN1 Shore_NP0 ,_PUN Monticell•_NP0 and_CJC Queens_NP0 )_PUR ._SENT Volunteers_NN2 completed_VVD exterior_AJ0 repairs_NN2 ,_PUN such_DT0 as_PRP repair_NN1 /_PUN painting_NN1 of_PRF stoops_NN2 ,_PUN planting_VVG trees_NN2 ,_PUN and_CJC cleaning_VVG up_AVP sidewalks_NN2 on_PRP over_AV0 250_CRD homes_NN2 ,_PUN completed_VVD a_AT0 total_AJ0 renovation_NN1 of_PRF seven_CRD local_AJ0 parks_NN2 ,_PUN eleven_CRD vacant_AJ0 homes_NN2 ,_PUN five_CRD vacant_AJ0 lots_PNI as_CJS well_AV0 as_CJS the_AT0 clean‐up_NN1 and_CJC painting_NN1 of_PRF a_AT0 playground_NN1 ,_PUN and_CJC an_AT0 outdoor_AJ0 classroom_NN1 ._SENT Local_AJ0 lenders_NN2 ,_PUN community_NN1 volunteers_NN2 ,_PUN school_NN1 civics_NN1 clubs_NN2 ,_PUN several_DT0 local_AJ0 nonprofits_NN2 ,_PUN realtors_NN2 and_CJC SONYMA_NP0 's_POS MI_NP0 partners_NN2 both_AV0 sponsored_VVN and_CJC contributed_VVN volunteers_NN2 t•_NN1 complete_VVB the_AT0 work_NN1 ._SENT There_EX0 was_VBD radi•_NN1 and_CJC media_NN0 coverage_NN1 across_PRP all_DT0 the_AT0 local_AJ0 networks_NN2 ._SENT All_DT0 2020_CRD Spruce_VVB Up_AVP events_NN2 were_VBD postponed_VVN t•_NN1 2021_CRD due_AJ0 t•_NN1 public_NN1 health_NN1 concerns_VVZ related_AJ0 t•_NN1 the_AT0 pandemic_AJ0 ._SENT 
•_PUN The_AT0 CRF_NP0 currently_AV0 owns_VVZ 570_CRD delinquent_AJ0 notes_NN2 ._SENT This_DT0 fund_NN1 was_VBD intended_VVN t•_NN1 be_VBI a_AT0 vehicle_NN1 through_PRP which_DTQ SONYMA_NN1 can_VM0 purchase_VVI delinquent_AJ0 notes_NN2 from_PRP various_AJ0 sources_NN2 in_PRP order_NN1 t•_NN1 help_NN1 borrowers_NN2 modify_VVB their_DPS loans_NN2 and_CJC remain_VVB in_PRP their_DPS homes_NN2 ._SENT 
