Resources for Staff - NEW UPDATES  

• MOP is available One Time per household for the First Home in San Diego County providing funds are available.
• The current MOP loan limit is $1,000,000 providing borrowers meet all program criteria.
• A 100% Academic Senate Appointment is Required and should be stated in the appointment letter.
• Lending residency requirements are different than employment requirements. Faculty with a visa should contact the home loan coordinator for additional information and a timeline.
• Faculty borrowers must apply for a MOP Loan Pre-Approval to obtain a loan and this pre-approval takes 5-7 business days.
• Loan pre-approval is required before entering into a contract.
• Faculty who have received and accepted their final an approved appointment may be able start a MOP application and buy a home prior to their start date under certain conditions -- please contact Marie Sidney for further information.
• Faculty Recruitment Allowances (FRA) can be paid as early as the first paycheck. Faculty will need to contact their home department business office for payment processing information.
• Please note, the campus MOP parameters sometimes are different than the broader UC parameters.

General Campus and SIO Academic Senate Faculty

• Eligible Titles 
  • Professor series - Ladder-rank Faculty (*Assistant, Associate, Full)
  • Teaching Professors (Lecturer or Senior Lecturer series: LPSOE, LSOE and SRLSOE)
  • Acting Assistant and Acting Associate Professors
    • Please note Professor In Residence is not a SIO or general campus eligible title for MOP
• Time Period
  • Two Years from the arrival on campus (to allow faculty some time to move to San Diego)
    • Eligible faculty with an appointment starting 7/01/2020 can use MOP until 9/30/2022
  • Assistant Professors upon reaching tenure and Assistant Teaching Professors upon obtaining security of employment, are granted one additional year to use MOP to purchase their First Home in San Diego county; if they have not used MOP, they meet all MOP criteria and providing funds are available.
    • The second opportunity to use MOP will be stated in the tenure letter or the letter obtaining the LSOE title.
    • This second MOP opportunity is not stated in the Letter of Intent (since it is predicated upon available funds).
• Allocation Amount
  • $1,000,000 (providing the borrower qualifies for this amount and meets all program criteria)

Health Sciences Academic Senate Faculty - please contact Jacqueline Corbeil and note criteria may be different than the general campus.

• Eligible Titles (Please note participation is by invitation only and must be approved by the Deans’ Office)
  • Professor series - Ladder-rank Faculty (Assistant, Associate, Full)
  • Professor In-Residence series (Assistant, Associate, Full)

  • Professor of Clinical X series (Assistant, Associate, Full)

• Time Period
  • One year and allocated on a case-by-case basis from the appointment start date and providing funds are available (a one-time exception might be granted)
  • Eligible faculty with an appointment starting 7/01/2020 can use MOP until 6/30/2021
  • Allocation Amount

    • Allocation - $1,000,000

MOP - Letter of Intent/Proposal Letters Template Language (draft)

You will be nominated to participate in the University’s Mortgage Origination Program (MOP). This program provides first deed of trust loans with a one-year adjustable rate based upon an internal University index. The maximum loan allocation may be up to $1,000,000 subject to qualifying for such a loan and meeting all campus and program criteria. Please refer to campus MOP website: https://evcra.ucsd.edu/housing/index.html#Mortgage-Origination-Program-(M

You will be eligible to participate in the program for two years after your arrival on campus, as long as there are funds available. MOP is available one time for the purchase of your first home in San Diego County. The MOP property must be the principal place of residence for the term of the loan and requires continued employment at UC San Diego. MOP Loans may only be issued after you have received and accepted a formal appointment letter from the Executive Vice Chancellor for Academic Affairs. A Loan Pre-Approval Application is required to obtain pre-approval status and this is required before entering into a contract. The pre-approval process takes 5-7 business days.

Please reference the campus MOP weblink: https://evcra.ucsd.edu/housing/index.html#Mortgage-Origination-Program-(M and the MOP Brochure weblink: https://www.ucop.edu/loan-programs/_files/mopbrochure.pdf. These weblinks highlight important campus and MOP requirements.

MOP - Appointment Template Language for MOP in Academic Personnel Memos (draft)

You are nominated to participate in the University’s Mortgage Origination Program (please see attached link). This program provides first deed of trust loans with a one-year adjustable rate based upon an internal University index. The maximum loan allocation may be up to $1,000,000 subject to qualifying for such a loan and meeting all campus and program criteria. You may participate in this program for two years after your arrival on campus, as long as there are funds available.  

Please reference the campus MOP weblink: https://evcra.ucsd.edu/housing/index.html#Mortgage-Origination-Program-(M and the MOP Brochure weblink: https://www.ucop.edu/loan-programs/_files/mopbrochure.pdf. These weblinks highlight important campus and MOP requirements.

• Recruitment and Retentions Exceptions 
  • Please contact your Dean's Office with questions.

• Amount over $1,000,000
  • MOP exceptions requests over $1,000,000 are not feasible at this time. Please contact your Dean's Office with questions.                                                                                                                                      
• Time Extensions
  • At this time we are not taking time exceptions. Please contact your Dean's Office with questions.                                                                                                                                                                          

• This is a fairly new program with a small allocation and is offered on a limited basis.
• Intended to provide small short-term loans for down payment assistance.
• The loan terms can be 5, 10, or up to a maximum of 15 years.
• This loan provides a fixed interest rate.
• For further information contact Marie Sidney, the Home Loan Program Coordinator.

• Eligible Faculty who have accepted their official offer may begin the MOP pre-approval application process under specific terms including the topics listed below.
  
  • MOP loans can be approved up to 180 days (about 6 months) before the official start date if they meet all program criteria, have accepted a formal appointment and meet all campus and UC Lending Residency Requirements. Please consult with the campus Home Loan Coordinator for further details.
• Special note for borrowers that have a Visa:
  • Usually to use MOP, the Visa Status must be sponsored by UC San Diego and approved, in ideal cases the visa approval will start when employment starts (therefore, using MOP before the start date may not be available).
• Special FRA note: when the campus moves to UC Path, FRA payments can be coordinated by the faculty member's department for payments on the first paycheck (FRA payments are not permitted before the first paycheck).

• Eligible Faculty may have only one MOP loan at a time.
• MOP requires faculty to live in the home as their principal place of residence.
• MOP is limited to one loan per household for the first home in San Diego county; when two incoming faculty members are both offered MOP the loan maximum is $1,000,000.
• Eligible Faculty who own a home outside of San Diego County can participate in MOP if they meet all UC and campus MOP program criteria.
• Eligible Faculty with a new appointment at UC San Diego that used MOP at another UC may participate in MOP if they meet MOP program criteria and initiate steps to pay off the MOP loan from the other UC campus.
  
  • If a faculty member has a MOP from another UC campus, they may refinance or pay off the other UC MOP loan, or sell the home before using a MOP with UC San Diego.

• Faculty who are on leave should contact the Home Loan Coordinator if their principal place of residence is changed during the leave.

Please note this program is only available to General Campus incoming LRF and Teaching Professors 

• Please notify the AP Actions listserve when new faculty accept their offers, this will initiate adding their name to the faculty priority wait list.
• New Academic Senate faculty must complete the online housing application within 30 days of accepting their offer to obtain priority wait list status.

Contact for Application Questions

UC San Diego Associated Residential Community Housing Office
Email: archinfo@ucsd.edu
Telephone: 858-534-2724

Faculty Priority Program Questions Contact: Karen Stecher (kstecher@ucsd.edu)