MHA Update: SD 15-01 Making Home Affordable Program-MHA Program Updates
On January 29, Making Home Affordable (MHA) released an update titled Supplemental Directive 15-01: Making Home Affordable Program-MHA Program Updates.
MHA Program Update
Supplemental Directive 15-01: Making Home Affordable Program – MHA Program Updates
Today, January 29, 2015, Supplemental Directive (SD) 15-01: Making Home Affordable Program – MHA Program Updates was issued, expanding eligibility for certain “pay for performance” incentives offered under Treasury’s Home Affordable Modification Program (HAMP) to include certain GSE loans modified under GSE HAMP.
This SD applies only to servicers of GSE Loans that are subject to:
- the terms of a SPA which has been amended to provide for services with respect to certain GSE Loans (such amendment is a GSE SPA Amendment), and
- Service Schedule A-1 to the SPA, under which the servicer elected to provide services with respect to HAMP.
The SD applies only to those servicers that execute a GSE SPA Amendment on or before March 15, 2015.
The following topics are covered in this SD:
- GSE Authorization of GSE SPA Services
- Servicer Participation with Respect to GSE Loans
- Eligibility for $5,000 Pay for Performance Incentive under a GSE Amended SPA
- Data Collection and Reporting
Servicers of GSE Loans should also refer to relevant guidance issued by the applicable GSE with respect to these matters.
This SD amends and supersedes notated portions of the Handbook and is effective April 1, 2015.
This guidance does not apply to servicers who are not subject to a GSE-amended SPA, Non-GSE Mortgages, or mortgage loans that are insured or guaranteed by the Department of Veterans Affairs, the Department of Agriculture’s Rural Housing Service or the Federal Housing Administration.
Read SD 15-01 in its entirety for more information.
For more information, email the HAMP Solution Center or call
Please click here to view the update online.
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