MHA Program Update: SD 15-03 Verification of Dodd-Frank Certification
On May 6, Making Home Affordable (MHA) released an update titled Supplemental Directive (SD) 15-03: Verification of Dodd-Frank Certification.
MHA PROGRAM UPDATE
Supplemental Directive (SD) 15-03: Verification of Dodd-Frank Certification
Today, May 6, 2015, Supplemental Directive 15-03: Making Home Affordable Program – Verification of Dodd-Frank Certification on GSE HAMP Loans Under a GSE Amended SPA was issued providing additional guidance with respect to matters described in SD 15-01, specifically, compliance with the Dodd-Frank Wall Street Reform and Consumer Protection Act.
The guidance in this SD applies only to servicers that are subject to a GSE Amended SPA (as defined in SD 15-01), and only with respect to Treasury Funded GSE HAMP Loans (as defined therein).
This SD covers the following topics:
- Borrower Eligibility & Compliance Portal
- Loan Selection
- Servicer Documentation
- Vendor Review and Alert Notification
- Alert Clearance Process
- Reporting Clearance Status
- Treasury System Reporting and Incentives
This SD amends and supersedes the notated portions of the Handbook and is effective September 1, 2015.
This SD does not apply to:
- servicers who are not subject to a GSE Amended SPA;
- mortgage loans insured or guaranteed by the Department of Veterans Affairs, the Department of Agriculture’s Rural Housing Service or the Federal Housing Administration; and
- any other Non-GSE mortgages.
Read SD 15-03 in its entirety for more information.
Email the HAMP Solution Center or call 1-866-939-4469.
Please click here to view the online update.
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