MHA Program Update Supplemental Directive 16-03: Making Home Affordable Program ? MHA Program Termination and Borrower Application Sunset II
May 2, 2016
Today, May 2, 2016, Supplemental Directive (SD) 16-03: Making Home Affordable Program – MHA Program Termination and Borrower Application Sunset II was issued, providing additional guidance to servicers regarding the termination of MHA for Non-GSE Mortgages, as outlined in SD 16-02, particularly with respect to consideration and/or evaluation of borrowers who request assistance, or to whom an offer of assistance has been extended under an MHA program.
This SD also provides guidance with respect to the eligibility of certain GSE HAMP Loans to receive pay-for-performance incentives through the Troubled Asset Relief Program (TARP). Mapping of the Handbook incorporating the guidance provided in this SD, as well as that provided in SD 16-02, is also included. A revised version of the MHA Handbook incorporating the guidance from both SDs will be issued in May 2016.
Unless otherwise specified, this SD is effective immediately, and amends and supersedes the relevant portions of the Handbook.
This SD covers the following topics:
- Transfers of Eligible Loans to Non-SPA Servicers
- Compliance with Laws
- Borrower Escalations
- Single Point of Contact
- Federally Declared Disaster (FDD) Forbearance Plans
- Government Loans
- Handbook Mapping Clean-Up and Clarifications
This SD does not apply to mortgage loans that are insured or guaranteed by the Department of Veterans Affairs, and except as noted, GSE Loans, or those insured or guaranteed by the Federal Housing Administration or by the Department of Agriculture’s Rural Housing Service.
Read SD 16-03 in its entirety for more information.
Email the HAMP Solution center or call 1-866-939-4469.