University of California's Mortgage Origination Program (MOP Loans)
What is the Mortgage Origination Program?
The Mortgage Origination Program (MOP) is a housing assistance program that was developed by the University of California to support the recruitment and retention of senior faculty and members of the senior management group by assisting them in the purchase of a principal residence near their work location. The MOP provides first deed of trust loans with a one-year adjustable rate based upon an internal University index. MOP funds are not committed until final loan approval, and the maximum repayment term is 30 years.
While MOP funding is provided to all UC Campuses, LBNL shares its allocation with UCOP, ANR, and UC Law. The total loan funding amount available resets every Academic Fiscal Year (7/01 - 6/30). The MOP Program is contingent upon funding availability and requires borrowers to meet all program criteria.
For more information, visit the Office of UC Loan Programs.
MOP is administered by the University of California Home Loan Program Corporation (UCHLP).
LBNL Process for Eligible Employees
The Lab uses the MOP as one of its recruitment and retention tools for senior-level positions. Given the shared pool and limited funds available, there is a nomination and approval process that goes to the Lab Director for final decisions on who can access this program.
If you would like to see if you are eligible and have your name nominated for access to this program, speak with your division director, who can advocate for you with your ALD. Once nominations are sent to ALDs, each takes the list of their priority recruitment and retention cases to the Lab Director for final approval. Once final approval is received, then the individual is connected to the Lab’s MOP liaison in the Benefits department to get the process started with the UC Loan office.
Given the Lab’s extra nomination/approval process and UC’s processing times, it is recommended that any senior-level employee seeking access to this program be at the beginning of their housing search before an offer is made on a property vs. in the final stages.
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