Co-borrower consent

PLEASE REVIEW, SIGN, AND RETURN ONE COPY OF THIS FORM IN THE ENCLOSED ENVELOPE

COBORROWER CONSENT AGREEMENT

The United States Department of Housing and Urban Development or HUD is conducting an important study on first-time homebuyers. Several thousand people from across the United States are participating. The goal of the study is to learn more about what types of information first-time homebuyers find most helpful when purchasing a home.

To conduct the study, HUD hired the Study Team, which includes Abt Associates, Abt SRBI, and their subcontractors. You will receive written notification if HUD makes changes to the Study Team at any point during the study period.

This study has been reviewed by the Office of Management and Budget under the Paperwork Reduction Act of 1995 (OMB Control # 2528-0293 expiration XX/XX/XXXX).

[INSERT STUDY PARTICIPANT’S NAME], has agreed to participate in this study and has indicated that you may be a co-borrower on the home loan. As a co-borrower, you will not take part in the study. However, we need your permission to receive loan information from the lender.

By agreeing, you give your consent to the lender that may make the home loan to share loan data with the Study Team for the next seven years.

The information collected by the Study Team will include loan information for the next seven years including your home purchase price, down payment, monthly performance history including any late payments, and other similar information from your lender or from the Federal Housing Administration if you take out an FHA loan.

In order to collect this information, the Study Team will share your name and identifying information with the study’s participating lenders and FHA to allow them to locate your record. A copy of your consent will be sent to the lenders to authorize them to provide information to the Study Team.

The Study Team will take multiple steps to protect your confidentiality. Despite these precautions, participation in a study always includes a small risk that your personal information might be seen by someone outside of the Study Team. The study team has developed strict procedures to minimize the chance that a hacker or someone else outside the Study Team sees your private information. Additionally:

• Your privacy is protected by a Federal law called the Privacy Act of 1974.

• The information will only be used for research-related purposes.

• Your name will never appear in any report produced as part of this study.

• The information collected for the study will only be seen by the Study Team working with HUD, including Abt Associates and Abt SRBI.

Providing your consent is voluntary. You can withdraw your consent at any time by contacting the Study Team’s toll-free hotline at 1-855-207-6262. This will not affect [INSERT STUDY PARTICIPANT’S NAME] participation in the study, it just means we will not be able to collect the information on your home loan for the study.

Please print your name, add your signature and date of birth, and return to the Study Team in the pre-addressed envelope. Signing this document indicates that you consent to the lender sharing data with the Study Team.

Print Name:_________________________________________________________

Signature:__________________________________________________________

Date of Birth:_______________________________________________________

[INSERT STUDY PARTICIPANT ID HERE]

Questions about Who to Call:

The Study Team, which includes Abt SRBI, is conducting the study. If you have any questions about the study, contact the toll-free Study Hotline at1-855-207-6262. You may also call Dr. Jonathan Spader of Abt Associates at 1-301-347-5789, or Dr. Marina Myhre of HUD at 1-202-402-5705. If you have questions about your rights if you provide consent, you can call Katie Speanburg of Abt’s Institutional Review Board at 617-520-2499. Please note that the calls to Dr. Spader, Dr. Myhre, and Ms. Speanburg are not toll-free numbers.

Complete List of Information the Study Team will Receive from Your Lender with Your Consent

All three participating lenders will provide the following information regarding the loans they make along with payment history on those loans:

• Total monthly payment, including principal, interest, taxes, and insurance

• Loan amount (with and without mortgage insurance premium)

• Home purchase price and closing date

• Loan type: Fixed, ARM, VA or FHA, conventional, conforming, non-conforming, Freddie Mac, Fannie Mae

• Ratio of the monthly payment to monthly income

• Ratio of total monthly debt payments to monthly income

• Number of months until the first adjustment (if the loan is an adjustable rate mortgage)

• Whether the loan includes a buy down option

• Whether the loan has a balloon payment

• Whether the loan is held in the portfolio of the lender or sold to another investor

• Whether the loan is interest-only

• Whether the loan has private mortgage insurance

• The loan term, amortization term, loan pricing, initial and current interest rate, closing costs and fees and who paid (lender, you or seller)

• Whether a second mortgage is taken at the time of purchase

• The total amount of the first mortgage and any second or third mortgages

• Ratio of the loan amount to the purchase price

• Total front end ratio and back end ratio including any second or third mortgages

• Payment delinquency of 30+, 60+ or 90+ days and date(s)

• Whether the lender has filed for foreclosure and date(s)

• Payment in full and date

• The updated loan balance and date(s)

• The name of any down payment assistance or housing counseling provider

Complete List of Information the Study Team will Share with Participating Lenders

The Study Team will share the information listed below for research purposes. It will not affect the services or loan decision of the participating lenders.

• Name of coborrower (and study participant)

• Date of birth of coborrower (and study participant)

• Property street address, city, state, and ZIP code of the purchased home(s)

• Closing date of the mortgage loan(s)

• The study participant’s consent

• The coborrower’s consent