Who receives the Housing Choice Voucher (HCV) payment when a Member obtains a NACA Mortgage?

The correct answer is that the lender receives the Housing Choice Voucher (HCV) payment when a member obtains a NACA Mortgage. This arrangement occurs because the HCV is designed to provide rental assistance that reduces the burden of housing costs for low-income individuals and families. When a NACA member secures a mortgage and qualifies for HCV assistance, the payment is directed to the lender to help offset the member's mortgage costs directly.

This system helps ensure that the funds are applied to the mortgage, which can lead to more secure housing stability for the member. By receiving the payment, the lender can also mitigate their risk associated with the mortgage and encourage lending to those who may otherwise have challenges in affording housing.