MORTGAGE ORIGINATION PROGRAM (MOP)
The Mortgage Origination Program (MOP) operated by the UC Office of the President is a valuable part of our work to recruit exceptional faculty to UC San Diego.
All UC campuses are experiencing unprecedented interest in the MOP and are facing a shortage of funds from the UC Office of the President (OP). Each campus is developing its own response to the funding constraints. The recent surge in MOP usage has forced two campuses to pause the approval process. As a result, all new MOP applications and processing at UC San Diego will be temporarily paused for the rest of the 2024 calendar year until the best path forward for a sustainable MOP within the new financial constraints can be developed. We intend to have an update about the MOP by the end of the fall 2024 quarter.
This page offers answers to questions we have received about the temporary pause. It will be updated with additional questions and answers regularly. A Listening Session has been scheduled for IMPACTED FACULTY ONLY for October 2. Impacted faculty should have received an email invitation. This listening session is to faculty with an opportunity to share their concerns, or suggestions about the MOP.
Q: Are all UC campuses experiencing shortages of funds impacting the MOP?
A: All UC campuses are experiencing unprecedented interest in the MOP and many are facing a shortage of funds from the UC Office of the President (OP).
Q: Is MOP gone forever or just paused?
A: It is temporarily paused. We will re-launch the program as soon as we have all the information needed to restart a sustainable and equitable plan, most likely in early 2025.
Q: Will MOP exist for future hires and will MOP limits or amounts change?
A: The MOP will exist in some form for new hires. The program will be updated to reflect the new financial realities. We may need to revisit the amounts for new hires.
Q: Will Assistant Professors and Assistant Teaching Professors continue to have the opportunity to use MOP when promoted to tenure/security of employment?
A: We will revisit promotion eligibility during this pause with the goal of re-launching the MOP as a sustainable and equitable plan.
Q: Why has MOP been paused for people who are already here at UC San Diego?
A: The recent surge in MOP usage systemwide, coupled with fixed available resources from OP, prompted our campus’ need to temporarily pause the program.
Q: Are exceptions to MOP rules on timing, location, etc. still available?
A: No, all exceptions have been paused to allow for consistent updates to the entire MOP program.
Q: Is current access to the Zero Interest Program (ZIP) and the Faculty Recruitment Allowance Program (FRAP) impacted?
A: ZIP and FRAP are not impacted and they still can be used to purchase a home. FRAP and ZIP are entirely independent of MOP. One can use FRAP or ZIP even if one is not using MOP.
Q: Is the Supplemental Home Loan Program (SHLP) impacted?
Q: When using the MOP in the future, does the down payment have to come from ZIP or FRAP?
A: No.
Q: Does this program "pause" apply to me? Will this affect me if I am in the commitment stage (contract, closing)?
A: If you already bought a home using MOP, you are not impacted by this in any way.
If you are in escrow?
If your application has been submitted and approved but you have not completed the home loan purchase process, please contact Carlos Hernandez at cah005@ucsd.edu to discuss the status of your loan.
If you have been pre-approved?
If your application has been submitted and pre-approved but you have not completed the home loan purchase process, you should receive an email clarifying your status. If you have not received such an email, please contact Home Loan Coordinator Carlos Hernandez at cah005@ucsd.edu to discuss the status of your loan.
If you applied but have not heard back about the outcome?
Your application has been paused in underwriting and will be kept on file until we have determined the new path forward with revised MOP guidelines. If you are unsure about your application status, please contact Home Loan Coordinator Carlos Hernandez at cah005@ucsd.edu to discuss the status.
Q: If I have a recently expired pre-approval letter, can I renew it?
A: Applications with expired pre-approvals will be kept on file until we have determined the new path forward with revised MOP guidelines.
Q: Will the pause period count against my 2 years of eligibility for MOP, ZIP and/or FRAP that started when my appointment began?
A: We are working under the general principle that the pause period should not count against the eligibility period. There are many ways in which a solution might implement that principle and the task force is considering all the possibilities.
Q: Is my MOP still valid? How can I check the status of my application?
A: Those with specific questions related to their potential MOP eligibility should contact Home Loan Coordinator Carlos Hernandez at cah005@ucsd.edu
Q: Where can I share my questions, concerns or suggestions?
A: We understand that this is difficult news, and we welcome any questions, concerns or suggestions you have. Please email your questions to Home Loan Coordinator Carlos Hernandez at cah005@ucsd.edu. We are also holding a Listening Session on October 2 for impacted faculty as another way of hearing your thoughts.