MHA Update: SD 14-02 Administrative Clarifications
On April 22, Making Home Affordable (MHA) released an update titled Supplemental Directive 14-02: Making Home Affordable Program – Administrative Clarifications.
Supplemental Directive 14-02: Making Home Affordable Program – Administrative Clarifications
Today, April 22, 2014, Supplemental Directive (SD) 14-02: Making Home Affordable Program – Administrative Clarifications was issued, providing updates to the Home Affordable Modification Program® (HAMP) and the Second Lien Modification ProgramSM (2MP).
The following topics are covered in SD 14-02:
- Assistance for Borrowers with Limited English Proficiency
- HAMP Tier 2 Updates
- Post-Modification Counseling Updates
- Notice of Interest Rate Step-Up Updates
This SD amends and supersedes the notated portions of the Handbook, and except as stated therein, is effective July 1, 2014.
This guidance does not apply to mortgage loans that are owned or guaranteed by Fannie Mae or Freddie Mac, or insured or guaranteed by the Veterans Administration, the Department of Agriculture’s Rural Housing Service (RHS) or the Federal Housing Administration (FHA).
Read SD 14-02 in its entirety for more information.
Please click here to view the online update.
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