Form HUD92917-H4H

HOPE for Homeowners
Subordinate Lien Upfront
Payment Worksheet

OMB Approval No. 2502-0579
(exp. 11/30/2012)

U.S. Department of Housing and
Urban Development
Federal Housing Administration

Borrower(s) Name

FHA Case Number

Property Address

Appraised Value

Originating Lender Name

Appraisal Date

First Lien Holder Name

Third Lien Holder Name (if any)

Second Lien Holder Name

Fourth Lien Holder Name (if any)

First Lien
1.

Principal *

2.

Accrued Interest *

3.

Amount Owed (Line 1 + Line 2)

4.

LTV (Line 3 ÷ Appraised Value)

5.

Cumulative LTV **

6.

Days Past Due

7.

Upfront Payment Factor

8.

Upfront Payment (Line 3 × Line 7)

Instructions. In accordance with the chart to the right,
subordinate lien holders may receive an upfront payment
equal to a percentage of the principal and accrued interest
they are writing off. The Upfront Payment Factor for
each subordinate lien is based on the number of days the
lien is past due at the time of HOPE for Homeowners loan
application and the lien’s Cumulative Loan-to-Value
Ratio (Cumulative LTV).

Second Lien

Third Lien
(if any)

UPFRONT PAYMENT FACTORS

Cumulative LTV
(%)

≤
90.01 100.01 125.01 >

90.00
100.00
125.00
150.00
150.00

Fourth Lien
(if any)

0 - 29
0.50
0.45
0.35
0.20
0.10

Line Total

Days Past Due (#)
30 - 59
60 - 89
0.40
0.28
0.36
0.26
0.28
0.20
0.16
0.11
0.08
0.03

90 +
0.09
0.06
0.03
0.03
0.03

* When completing the above worksheet, use the principal and accrued interest amounts as of the first day of the month in which the HOPE for
Homeowners loan application was made, with interest calculated at the pre-default contract rate.
** A lien’s Cumulative LTV is the sum of its LTV and the LTVs of all more senior liens. For instance, the Cumulative LTV of a third lien equals the
sum of the third’s LTV, the second’s LTV, and the first’s LTV. When complete, the Total of Line 4 should approximately equal to the Cumulative
LTV of the most junior loan. (Unavoidable rounding errors caused by working with decimals may prevent the two boxes from matching exactly.)

Subordinate Lien Holder Authorized Signature

Title

Subordinate Lien Holder Address

Date

Telephone

Originating Lender Authorized Signature

Title

Previous editions are obsolete.

Page 1 of 2

Date

Form HUD-92917 (10/2009)

EXAMPLE OF A COMPLETED
SUBORDINATE LIEN UPFRONT PAYMENT WORKSHEET
This is an example of a properly completed Subordinate Lien Upfront Payment Worksheet, in a case where there is only one subordinate lien. (If
there was a second subordinate lien (a third lien), the Third Lien column of the Worksheet would also be completed.)
The example property is currently appraised at $100,000 with a primary lien of $100,000 ($95,000 principal and $5,000 accrued interest) and a
subordinate lien of $18,000 ($17,000 principal and $1,000 accrued interest). The subordinate lien is 32 days past due at the time of application.
Given this information, the Subordinate Lien Upfront Payment Worksheet is completed as follows:
First Lien

Second Lien

Third Lien
(if any)

Fourth Lien
(if any)

Line Total

1.

Principal

$95,000

$17,000

$112,000

2.

Accrued Interest

$5,000

$1,000

$6,000

3.

Amount Owed (Line 1 + Line 2)

$100,000

$18,000

$118,000

4.

LTV (Line 3 ÷ Appraised Value)

100%

18%

118%

5.

Cumulative LTV

100%

118%

6.

Days Past Due

7.

Upfront Payment Factor

8.

Upfront Payment (Line 3 × Line 7)

32
0.28
$5,040

$5,040

Calculating Cumulative LTV. The Cumulative LTV (Row 5) for a first lien equals its LTV (Row 4). For a second lien, the Cumulative LTV equal
the first lien’s LTV plus the second lien’s LTV. In this example, the second lien’s Cumulative LTV is 100% plus 18%, or 118%.
If the example property had a third lien, the third lien’s Cumulative LTV would be calculated as 100% plus 18%, plus the third lien’s LTV.
Determining Upfront Payment Factor. Use a subordinate lien’s Cumulative LTV (Row 5) and its Days Past Due (Row 6) to determine the
appropriate Upfront Payment Factor on the “Upfront Payment Factors” chart, on page one of this form. In this example, the second lien’s Upfront
Payment Factor of 0.28 is determined as follows:
UPFRONT PAYMENT FACTORS

Cumulative LTV
(%)

≤
90.01 100.01 125.01 >

90.00
100.00
125.00
150.00
150.00

0 - 29
0.50
0.45
0.35
0.20
0.10

Days Past Due (#)
30 - 59
60 - 89
0.40
0.28
0.36
0.26
0.20
0.28
0.16
0.11
0.08
0.03

90 +
0.09
0.06
0.03
0.03
0.03

If the example property had a third lien, its Upfront Payment Factor would be determined in the same manner, using the third lien’s Cumulative LTV
and Days Past Due.

"Public reporting burden for this collection of information is estimated to average 2 hours. This includes the time for
collecting, reviewing, and reporting the data. The information is being collected for a temporary FHA program that offers
homeowners and existing mortgage loan holders (or servicers acting on their behalf) insurance on the refinancing of loans for
distressed mortgagors. The information w ill be used for determining the eligibility requirements and underwriting procedures.
Response to this request for information is required in order to receive the benefits to be derived. This agency may not collect
this information, and you are not required to complete this form unless it displays a currently valid OMB control number.
Privacy Act Notice: The United States Department of Housing and Urban Development, Federal Housing Administration, is
authorized to solicit the information requested in the form by virtue of Title 12, United States Code, Section 1701 et seq., and
regulations promulgated thereunder at Title 12, Code of Federal Regulations. While no assurance of confidentiality is pledged
to respondents, HUD generally discloses this data only in response to a Freedom of Information Act request.
Previous editions are obsolete.

Page 2 of 2

Form HUD-92917 (10/2009)