MHA SD 13-09: CFPB Mortgage Servicing Regulations
On October 18, the Making Home Affordable Program (MHA) released Supplemental Directive 13-09: MHA Program – CFPB Mortgage Servicing Regulations.
Supplemental Directive 13-09: MHA Program – CFPB Mortgage Servicing Regulations
Today, October 18, 2013, Supplemental Directive (SD) 13-09: Making Home Affordable Program — CFPB Mortgage Servicing Regulations was issued, providing guidance permitting reconciliation of Making Home Affordable Program guidance with certain mortgage servicing rules issued by the Consumer Financial Protection Bureau (CFPB).
Effective January 10, 2014, this SD revises MHA Program guidance in areas listed below. Additional guidance is forthcoming indicating changes to version 4.3 of the Making Home Affordable Program Handbook for Servicers of Non-GSE Mortgages that will be made pursuant to this SD.
The following topics are covered in this SD:
- Loss Mitigation Application
- Right Party Contact
- Acknowledgment and Incomplete Information Notice
- Review of Loss Mitigation Application
- Home Affordable Unemployment ProgramSM (UP)
- Home Affordable Foreclosure Alternative® (HAFA) Program
This guidance does not apply to mortgage loans that are owned or guaranteed by Fannie Mae or Freddie Mac, insured or guaranteed by the Veterans Administration, the Department of Agriculture’s Rural Housing Service or the Federal Housing Administration.
To view the online update, please click here.
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