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18 <br /> (4) If the nonprofit lender is a subrecipient or contractor that is receiving HOME assistance to determine <br /> that the family is eligible for homeownership assistance, but the participating jurisdiction or another <br /> entity is making the assistance to the homebuyer(e.g., signing the documents for the loan or the grant), <br /> the requirements of paragraphs (e)(2) and (3) of this section are applicable. <br /> (f)Homebuyer program policies.The participating jurisdiction must have and follow written policies for: <br /> (1) Underwriting standards for homeownership assistance that evaluate housing debt and overall debt <br /> of the family, the appropriateness of the amount of assistance, monthly expenses of the family, assets <br /> available to acquire the housing, and financial resources to sustain homeownership; <br /> (2) Responsible lending, and <br /> (3) Refinancing loans to which HOME loans are subordinated to ensure that the terms of the new loan <br /> are reasonable. <br /> [61 FR 48750,Sept. 16, 1996, as amended at 67 FR 61756, Oct. 1, 2002; 68 FR 10161, Mar. 4, 2003; 69 <br /> FR 16766, Mar. 30, 2004; 69 FR 68052, Nov. 22, 2004; 72 FR 16685, Apr.4, 2007; 78 FR 44674,July 24, <br /> 2013] <br />