Mortgage Origination Program
Program Description
The Mortgage Origination Program is a key resource in faculty and staff recruitment and retention, providing valuable assistance in securing housing in our region. However, due to unprecedented demand and budgetary constraints, the UC Office of Loan Programs (OLP) has recently implemented several changes that will impact the availability of these loans.
Temporary Program Suspension
The MOP program is temporarily suspended for Fiscal Year 2025 (FY25) awaiting additional allocation from OLP.
UCSC is now the fifth campus to exhaust its FY25 MOP allocation. OLP is working on expediting replenishment; new allocation approval is not anticipated until spring or summer 2025.
Impact on Faculty and Staff
Faculty and staff who are currently in escrow with a MOP or have an active pre-approval will not be affected by these changes. Your loan process will continue as planned, and you will remain eligible to close on your home purchase under the terms of their pre-approval. However, if your pre-approval expires, extensions will not be granted, and any faculty or staff who have not yet received pre-approval from OLP will experience a delay.
This pause is expected to be temporary but will remain in place until the campus receives its new MOP allocation funding.
During the pause, faculty and staff may join the pre-approval waitlist by completing and submitting the following form:
We understand that these changes may present challenges. We appreciate your cooperation and understanding as we navigate this temporary shortage of available funds.
