MHA Supplemental Directive 14-03 Making Home Affordable Program-Administrative Clarifications
On September 30, Making Home Affordable (MHA) issued an update titled Supplemental Directive 14-03: Making Home Affordable Program-Administrative Clarifications.
Supplemental Directive (SD) 14-03: Making Home Affordable Program – Administrative Clarifications
Today, September 30, 2014, Supplemental Directive 14-03: Making Home Affordable Program – Administrative Clarifications was issued, providing updates and clarifications on the following topics as they relate to the Home Affordable Modification Progra (HAMP):
- Consideration of HAMP Loans Prior to Loss of Good Standing
- Evaluation of Borrowers with Interest Rate Step-Ups
- Borrower Solicitation
- Re-coding of Base NPV Model
- MHA Outreach and Borrower Intake Project
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 or guaranteed by Fannie Mae or Freddie Mac (each, a GSE), or insured or guaranteed by the Veterans Administration, the Department of Agriculture’s Rural Housing Service or the Federal Housing Administration.
Read SD 14-03 in its entirety for more information.
Email the HAMP Solution Center or call 1-866-939-4469.
Please click here to view the update online.
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