MHA Program Update: SD 15-02 Administrative Clarifications
On March 12, Making Home Affordable (MHA) released an update titled Supplemental Directive 15-02: Making Home Affordable Program – Administrative Clarifications.
MHA PROGRAM UPDATE
Supplemental Directive 15-02: Making Home Affordable Program – Administrative Clarifications
Today, March 12, 2015, Supplemental Directive (SD) 15-02: Making Home Affordable Program – Administrative Clarifications was issued, providing administrative updates and clarifications to the Home Affordable Modification Program® (HAMP), the Home Affordable Foreclosure Alternatives® (HAFA) Program, Treasury Federal Housing Administration HAMP (Treasury FHA-HAMP) and Rural Development HAMP (RD-HAMP).
The following topics are covered in this SD:
- Right Party Contact
- Non-Approval Notices
- Suspension of a Referral to Foreclosure
- Post-Modification Credit Reporting
- Servicer Incentive for Completed Modifications
- Borrower Incentives for Non-GSE Mortgages
- Consideration of Borrowers for HAFA
- Treasury FHA-HAMP and RD-HAMP Reporting
- Handbook Mapping Clean-Up and Clarifications
This SD amends and supersedes the notated portions of the Handbook and, except as stated therein, is effective immediately.
This guidance does not apply to mortgage loans that are owned, securitized or guaranteed by Fannie Mae or Freddie Mac, (each, a GSE), insured or guaranteed by the Department of Veterans Affairs, and except as noted therein, insured or guaranteed by the Federal Housing Administration or by the Department of Agriculture’s Rural Housing Service.
Read SD 15-02 in its entirety for more information.
Questions?
Email the HAMP Solution Center or call 1-866-939-4469.
Please click here to view the online update.
About Safeguard
Safeguard Properties is the mortgage field services industry leader, preserving vacant and foreclosed properties across the U.S., Puerto Rico, Virgin Islands and Guam. Founded in 1990 by Robert Klein and headquartered in Cleveland, Ohio, Safeguard provides the highest quality service to our clients by leveraging innovative technologies and proactively developing industry best practices and quality control procedures. Consistent with Safeguard’s values and mission, we are an active supporter of hundreds of charitable efforts across the country. Annually, Safeguard gives back to communities in partnership with our employees, vendors and clients. We also are dedicated to working with community leaders and officials to eliminate blight and stabilize neighborhoods. Safeguard is dedicated to preserving today and protecting tomorrow. Website: www.safeguardproperties.com.
