MHA Update Making Home Affordable Program Handbook Version 5.0 and Administrative Clarifications Issued
January 6, 2016
As of today, January 6, 2016, servicers can download Version 5.0 of the Making Home Affordable Program Handbook for Servicers of Non-GSE Mortgages (Handbook) from HMPadmin.com. The Handbook is a consolidated reference outlining the requirements and guidelines of the Making Home Affordable Program for mortgage loans that are not guaranteed by Fannie Mae or Freddie Mac.
Unlike Supplemental Directives (SDs), which outline specific policy topics only, the Handbook is organized so servicers can easily find program information in one convenient guide.
Version 5.0 of the Handbook incorporates and supersedes in their entirety SDs 15-03, 15-06, 15-07, and 15-08.
In addition, Version 5.0 of the Handbook incorporates administrative clarifications into existing sections of Version 4.5 of the Handbook. These clarifications are effective immediately and include the following topics:
- Minimum Payment Reduction Under Streamline HAMP
- Streamline HAMP Affidavit
- Principal Reduction Alternative Documents
- Recast of Non-GSE Mortgages
- HAMP Tier 2 Alternative Modification Waterfall
- Handbook Mapping Clean-Up and Clarifications
See SD 16-01: Making Home Affordable Program – Handbook for Servicers Version 5.0 and Administrative Clarifications for more information regarding these updates.
Revised Modification Agreement Document Summary Available
The Home Affordable Modification Agreement – Document Summary for Non-GSE Loans has been revised to reflect a change to Streamline HAMP—namely, the ability of servicers to accept a Request for Mortgage Assistance submitted by a borrower during a Streamline HAMP trial in substitution for a Streamline HAMP Affidavit.
Pursuant to the MHA Handbook v5.0, servicers should use the updated Document Summary in conjunction with a Streamline HAMP modification.
The updated Document Summary can be found under the Borrower Documents tab on the Home Affordable Modification Program Overview page on HMPadmin.com.
Email the HAMP Solution Center or call 1-866-939-4469.