Safeguard Properties

MHA Program Update: SD 15-02 Administrative Clarifications

Posted on by Safeguard

On March 12, Making Home Affordable (MHA) released an update titled Supplemental Directive 15-02: Making Home Affordable Program – Administrative Clarifications.

MHA PROGRAM UPDATE

Supplemental Directive 15-02: Making Home Affordable Program – Administrative Clarifications

Today, March 12, 2015, Supplemental Directive (SD) 15-02: Making Home Affordable Program – Administrative Clarifications was issued, providing administrative updates and clarifications to the Home Affordable Modification Program® (HAMP), the Home Affordable Foreclosure Alternatives® (HAFA) Program, Treasury Federal Housing Administration HAMP (Treasury FHA-HAMP) and Rural Development HAMP (RD-HAMP).

The following topics are covered in this SD:

  • Right Party Contact
  • Non-Approval Notices
  • Suspension of a Referral to Foreclosure
  • Post-Modification Credit Reporting
  • Servicer Incentive for Completed Modifications
  • Borrower Incentives for Non-GSE Mortgages
  • Consideration of Borrowers for HAFA
  • Treasury FHA-HAMP and RD-HAMP Reporting
  • Handbook Mapping Clean-Up and Clarifications

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, securitized or guaranteed by Fannie Mae or Freddie Mac, (each, a GSE), insured or guaranteed by the Department of Veterans Affairs, and except as noted therein, insured or guaranteed by the Federal Housing Administration or by the Department of Agriculture’s Rural Housing Service.

Read SD 15-02 in its entirety for more information.

Questions?
Email the HAMP Solution Center or call 1-866-939-4469.

Please click here to view the online update.

About Safeguard 
Safeguard Properties is the mortgage field services industry leader, preserving vacant and foreclosed properties across the U.S., Puerto Rico, Virgin Islands and Guam. Founded in 1990 by Robert Klein and headquartered in Cleveland, Ohio, Safeguard provides the highest quality service to our clients by leveraging innovative technologies and proactively developing industry best practices and quality control procedures. Consistent with Safeguard’s values and mission, we are an active supporter of hundreds of charitable efforts across the country. Annually, Safeguard gives back to communities in partnership with our employees, vendors and clients. We also are dedicated to working with community leaders and officials to eliminate blight and stabilize neighborhoods. Safeguard is dedicated to preserving today and protecting tomorrow.  Website: www.safeguardproperties.com.

MHA HAMP Reporting Update Updated HAFA Job Aid Posted on HMPadmin.com

Posted on by Safeguard

On March 2, Making Home Affordable (MHA) released a HAMP Reporting Update, subtitled Updated HAFA Job Aid Posted on HMPadmin.com.

HAMP REPORTING UPDATE

Updated HAFA Job Aid Posted on HMPadmin.com

An updated version of Reporting a Notification, Loan Set-Up or Termination for a Short Sale or Deed-in-Lieu has been posted on HMPadmin.com.

This document can be found in the Learning Center.

Questions?
Email the HAMP Solution Center or call 1-866-939-4469.

Please click here to view the online update.

About Safeguard 
Safeguard Properties is the mortgage field services industry leader, preserving vacant and foreclosed properties across the U.S., Puerto Rico, Virgin Islands and Guam. Founded in 1990 by Robert Klein and headquartered in Cleveland, Ohio, Safeguard provides the highest quality service to our clients by leveraging innovative technologies and proactively developing industry best practices and quality control procedures. Consistent with Safeguard’s values and mission, we are an active supporter of hundreds of charitable efforts across the country. Annually, Safeguard gives back to communities in partnership with our employees, vendors and clients. We also are dedicated to working with community leaders and officials to eliminate blight and stabilize neighborhoods. Safeguard is dedicated to preserving today and protecting tomorrow.  Website: www.safeguardproperties.com.

MHA HAMP Reporting Update Q1 2015 Base NPV Documentation Supplement Available

Posted on by Safeguard

On March 3, Making Home Affordable (MHA) released a HAMP Reporting Update, subtitled Q1 2015 Base NPV Documentation Supplement Available.

HAMP REPORTING UPDATE

Q1 2015 Base NPV Documentation Supplement Available

The Q1 2015 Base NPV Model Documentation Supplement is now available for the Home Affordable Modification Program® (HAMP) for use with Base NPV Model Version 6.0 beginning April 1, 2015. The supplement provides the following:

  • REO Sale Value Parameters
  • Historical and Projected Home Price Index
  • Foreclosure and REO Disposition Timelines and Costs
  • Home Price Decline Protection Incentive Matrix
  • Default Model Parameters
  • Pre-payment Model Parameters
  • HAMP Tier 2 Assumptions and Parameters

Servicers can access the Q1 2015 Base NPV Model Documentation Supplement in the Base NPV Model Tools & Documents section of HMPadmin.com (login required).

Important Actions for Certain Servicers: HAMP-registered servicers using an NPV model that has been implemented or customized for their own systems must implement the new Q1 2015 data tables for use beginning April 1, 2015.

To fulfill model versioning requirements, servicers should continue to use the Base NPV Model Version 5 and the Q4 2014 data tables for January 1 through March 31, 2015, and other appropriate supplement data tables for earlier quarters.

Questions?
Email the HAMP Solution Center or call 1-866-939-4469.

Please click here to view the online update.

About Safeguard 
Safeguard Properties is the mortgage field services industry leader, preserving vacant and foreclosed properties across the U.S., Puerto Rico, Virgin Islands and Guam. Founded in 1990 by Robert Klein and headquartered in Cleveland, Ohio, Safeguard provides the highest quality service to our clients by leveraging innovative technologies and proactively developing industry best practices and quality control procedures. Consistent with Safeguard’s values and mission, we are an active supporter of hundreds of charitable efforts across the country. Annually, Safeguard gives back to communities in partnership with our employees, vendors and clients. We also are dedicated to working with community leaders and officials to eliminate blight and stabilize neighborhoods. Safeguard is dedicated to preserving today and protecting tomorrow.  Website: www.safeguardproperties.com.

MHA HAMP Reporting Update HAMP NPV Transaction Portal Outage and Updated Reporting Forms Posted

Posted on by Safeguard

On March 16, Making Home Affordable (MHA) released a HAMP Reporting Update, subtitled HAMP NPV Transaction Portal Outage and Updated Reporting Forms Posted.

HAMP REPORTING UPDATE

HAMP NPV Transaction Portal Outage

Due to system maintenance, the HAMP NPV Transaction Portal will be unavailable from 8:00 a.m. ET Saturday, March 21 through 8:00 a.m. ET Monday, March 23, 2015.

Servicers will not be able to access the HAMP NPV Transaction Portal during this time period.

Updated Reporting Forms Posted

An updated version of the Servicer Reporting Overview diagram has been posted on HMPadmin.com. Changes have been made to the diagram to reflect updates to the program, and transaction descriptions with time frames have been added.

This document can be found in the Learning Center and Program sections on both the open and secure sides of HMPadmin.com.

The LPI Date Correction Request Form (login required) has been updated and can be found in the Data Reporting tab on the secure side of HMPadmin.com. Servicers should begin utilizing the updated version today.

Questions?
Email the HAMP Solution Center or call 1-866-939-4469.

Please click here to view the online update.

About Safeguard 
Safeguard Properties is the mortgage field services industry leader, preserving vacant and foreclosed properties across the U.S., Puerto Rico, Virgin Islands and Guam. Founded in 1990 by Robert Klein and headquartered in Cleveland, Ohio, Safeguard provides the highest quality service to our clients by leveraging innovative technologies and proactively developing industry best practices and quality control procedures. Consistent with Safeguard’s values and mission, we are an active supporter of hundreds of charitable efforts across the country. Annually, Safeguard gives back to communities in partnership with our employees, vendors and clients. We also are dedicated to working with community leaders and officials to eliminate blight and stabilize neighborhoods. Safeguard is dedicated to preserving today and protecting tomorrow.  Website: www.safeguardproperties.com.

MHA HAMP Reporting Update HAMP NPV Transaction Portal Outage

Posted on by Safeguard

On March 23, Making Home Affordable (MHA) released a HAMP Reporting  Update, subtitled HAMP NPV Transaction Portal Outage.

HAMP REPORTING UPDATE

HAMP NPV Transaction Portal Outage

Due to system maintenance, the HAMP NPV Transaction Portal will be unavailable from 9:00 p.m. ET Friday, March 27 through 8:00 a.m. ET Monday, March 30, 2015.

Servicers will not be able to access the HAMP NPV Transaction Portal during this time period.

Questions?
Email the HAMP Solution Center or call 1-866-939-4469.

Please click here to view the online update.

About Safeguard 
Safeguard Properties is the mortgage field services industry leader, preserving vacant and foreclosed properties across the U.S., Puerto Rico, Virgin Islands and Guam. Founded in 1990 by Robert Klein and headquartered in Cleveland, Ohio, Safeguard provides the highest quality service to our clients by leveraging innovative technologies and proactively developing industry best practices and quality control procedures. Consistent with Safeguard’s values and mission, we are an active supporter of hundreds of charitable efforts across the country. Annually, Safeguard gives back to communities in partnership with our employees, vendors and clients. We also are dedicated to working with community leaders and officials to eliminate blight and stabilize neighborhoods. Safeguard is dedicated to preserving today and protecting tomorrow.  Website: www.safeguardproperties.com.

MHA HAMP Reporting Update February 2015 UP Survey Now Available

Posted on by Safeguard

On March 16, Making Home Affordable (MHA) released a HAMP Reporting Update, subtitled February 2015 UP Survey Now Available.

HAMP REPORTING UPDATE

February 2015 UP Survey Now Available

The February 2015 UP survey is now available on HMPadmin.com (login required). Servicers that have executed a Servicer Participation Agreement (SPA) and that have cumulative UP activity must complete and upload their UP survey response to the HAMP Reporting Tool (login required) by Monday, March 23, 2015.

SPA servicers that have any cumulative UP activity as of February 28, 2015 must submit an UP survey at this time.

For details on downloading and submitting the UP survey response, log in to HMPadmin.com, navigate to the HAMP Loan Reporting Tools & Documents area, and select the UP Survey tab.

Questions?
For more information, email the HAMP Solution Center or call 1-866-939-4469.

For questions specifically regarding the survey contents, email the HAMP Servicer Survey team.

Please click here to view the online update.

About Safeguard 
Safeguard Properties is the mortgage field services industry leader, preserving vacant and foreclosed properties across the U.S., Puerto Rico, Virgin Islands and Guam. Founded in 1990 by Robert Klein and headquartered in Cleveland, Ohio, Safeguard provides the highest quality service to our clients by leveraging innovative technologies and proactively developing industry best practices and quality control procedures. Consistent with Safeguard’s values and mission, we are an active supporter of hundreds of charitable efforts across the country. Annually, Safeguard gives back to communities in partnership with our employees, vendors and clients. We also are dedicated to working with community leaders and officials to eliminate blight and stabilize neighborhoods. Safeguard is dedicated to preserving today and protecting tomorrow.  Website: www.safeguardproperties.com

Freddie Mac Publishes New Historical Guide Snapshot

Posted on by Safeguard

On February 27, Freddie Mac issued an announcement titled New Historical Guide Snapshot Available.

New Historical Guide Snapshot Available

We recently published a new Historical Guide Snapshot, which reflects Single-Family Seller/Servicer Guide (Guide) requirements as published on December 18, 2014.

This valuable resource is comprised of two comprehensive PDF files that contain:

  • All Guide Bulletins and Industry Letters published between October and December 2014, and
  • All Guide chapters, Guide forms, Guide exhibits, directories, and the Glossary as they were published on December 18, 2014. This file includes a table of contents and easy-to-use navigational bookmarks. We use highlighting, in both the table of contents and the text, to indicate updates made between the last Historical Guide Snapshot date and December 18, 2014.

Disclaimer: Historical Guide Snapshots must be read in conjunction with all applicable Guide Bulletins. They are not official versions of the Guide. You are responsible for compliance with the official Guide and Guide Bulletins, which contain specific Guide changes and applicable effective dates, as posted on AllRegs®.

For More Information

Please click here to view the announcement online.

About Safeguard 
Safeguard Properties is the mortgage field services industry leader, preserving vacant and foreclosed properties across the U.S., Puerto Rico, Virgin Islands and Guam. Founded in 1990 by Robert Klein and headquartered in Cleveland, Ohio, Safeguard provides the highest quality service to our clients by leveraging innovative technologies and proactively developing industry best practices and quality control procedures. Consistent with Safeguard’s values and mission, we are an active supporter of hundreds of charitable efforts across the country. Annually, Safeguard gives back to communities in partnership with our employees, vendors and clients. We also are dedicated to working with community leaders and officials to eliminate blight and stabilize neighborhoods. Safeguard is dedicated to preserving today and protecting tomorrow.  Website: www.safeguardproperties.com.

Freddie Mac March 2015 U.S. Economic and Housing Market Outlook

Posted on by Safeguard

On March 11, Freddie Mac released its monthly U.S. Economic and Housing Market Outlook.

Freddie Mac March 2015 U.S. Economic and Housing Market Outlook

MCLEAN, VA–(Marketwired – Mar 11, 2015) – Freddie Mac (OTCQB: FMCC) released today its U.S. Economic and Housing Market Outlook for March, highlighting some of the positive tailwinds at the start of the spring homebuying season. A video preview, along with the complete March 2015 U.S. Economic and Housing Market Outlook and forecast table, is available here.

Outlook Highlights

  • Expect 2015 to be the best year for home sales and new home construction since 2007 when total home sales were about 5.8 million for the year.
  • Improved job prospects have started to drive those aged 25-34 back to the labor force, with 76.8 percent employed as of last month, up from 75.9 percent last year.
  • Expect rising rents at or above inflation in 2015 to push more would-be homeowners into the market. Rents increased an average of 3.6 percent in 2014 and nearly 11 percent over the last three years.
  • Due to some recent upward pressure on Treasury bond yields, the 2015 forecast for the average 30-year fixed-rate mortgage was increased slightly to at 4.0 percent for the year.

Quote
Attributed to Len Kiefer, Deputy Chief Economist, Freddie Mac.

“This month kicks off the spring homebuying season. Between now and the end of June, we’ll see about 40 percent of all home sales for the year. So these next few months will essentially tell us whether or not 2015 will be a good or bad year for housing markets. Overall, we’re feeling good about housing and we expect this year to be the best year for home sales and new home construction since 2007 when we saw total home sales about 5.8 million for the year.”

Please click here to view the March 2015 U.S. Economic and Housing Market Outlook in its entirety.

About Safeguard 
Safeguard Properties is the mortgage field services industry leader, preserving vacant and foreclosed properties across the U.S., Puerto Rico, Virgin Islands and Guam. Founded in 1990 by Robert Klein and headquartered in Cleveland, Ohio, Safeguard provides the highest quality service to our clients by leveraging innovative technologies and proactively developing industry best practices and quality control procedures. Consistent with Safeguard’s values and mission, we are an active supporter of hundreds of charitable efforts across the country. Annually, Safeguard gives back to communities in partnership with our employees, vendors and clients. We also are dedicated to working with community leaders and officials to eliminate blight and stabilize neighborhoods. Safeguard is dedicated to preserving today and protecting tomorrow.  Website: www.safeguardproperties.com.

Freddie Mac: January 2015 Performance Data Now Available in Scorecard

Posted on by Safeguard

On March 6, Freddie Mac issued an announcement titled January 2015 Performance Data Now Available in Scorecard.

January 2015 Performance Data Now Available in Scorecard

Your January 2015 performance data is now available in your Freddie Mac Servicer Success Scorecard (Scorecard) via the Servicer Performance Profile. Your Scorecard reflects the updates we announced in Single-Family Seller/Servicer Guide (Guide) Bulletin 2014-19 [pdf].

As a reminder, the 2015 Scorecard Preview is no longer available. If you have questions, contact your Account Manager or Customer Support (800-FREDDIE).

Training and Resources

For More Information

  • Review Guide Bulletin 2014-19 [pdf]. 
  • Sign up for the Single-Family Week in Review and receive all the latest Single-Family news in one convenient weekly email.
  • Contact your Freddie Mac representative.

Please click here to view the announcement online.

About Safeguard 
Safeguard Properties is the mortgage field services industry leader, preserving vacant and foreclosed properties across the U.S., Puerto Rico, Virgin Islands and Guam. Founded in 1990 by Robert Klein and headquartered in Cleveland, Ohio, Safeguard provides the highest quality service to our clients by leveraging innovative technologies and proactively developing industry best practices and quality control procedures. Consistent with Safeguard’s values and mission, we are an active supporter of hundreds of charitable efforts across the country. Annually, Safeguard gives back to communities in partnership with our employees, vendors and clients. We also are dedicated to working with community leaders and officials to eliminate blight and stabilize neighborhoods. Safeguard is dedicated to preserving today and protecting tomorrow.  Website: www.safeguardproperties.com.

FHLMC Guide Bulletin 2015-3 Updates Announced

Posted on by Safeguard

On March 17, Freddie Mac released an update titled Modification Updates Announced in Guide Bulletin 2015-3.

Modification Updates Announced in Guide Bulletin 2015-3

Today, in Single-Family Seller/Servicer Guide (Guide) Bulletin 2015-3, we announced changes that enhance our modification options and expand borrower eligibility using our loss mitigation toolkit. All changes are effective for new evaluations conducted on or after July 1, 2015, but you’re encouraged to implement them immediately.

To continue to provide effective options for you to help borrowers keep their homes, we’re updating the following requirements:

Step-Rate Mortgages

  • Offering borrowers with Step-Rate Mortgages the opportunity for an earlier modification with our Freddie Mac Streamlined Modification (Streamlined Modification).
  • Adding a new eligible hardship to our Freddie Mac Standard Modification (Standard Modification) Imminent Default Hardship test.

Eligibility Exclusions for:

  • Streamlined Modification: Our three-step exclusion test (based on payment history, hardship reason and FICO® score) will no longer apply to Step-Rate Mortgages.
  • Standard and Streamlined Modification:  
  • Increasing the permitted total number of previous loan modifications from one to two.
  • Adjusting our requirements so a mortgage that was both:
  • Previously modified under Guide Section B65.18(a), and
  • Became 60 or more days delinquent within 12 months of the modification effective date, is only ineligible for a Streamlined or Standard Modification if the borrower was unable to bring the mortgage current following the original delinquency.

Borrower Response Packages for Streamlined Modifications

Updating Streamlined Modification requirements for situations when you receive a complete Borrower Response Package after the Streamlined Modification solicitation is sent to the borrower, but prior to you sending the modification agreement. 

Please read Guide Bulletin 2015-3 for more details on these changes and for additional updates.

Reminders

For More Information

Please click here to view the online update.

Please click here to view Guide Bulletin 2015-3 [pdf].

About Safeguard 
Safeguard Properties is the mortgage field services industry leader, preserving vacant and foreclosed properties across the U.S., Puerto Rico, Virgin Islands and Guam. Founded in 1990 by Robert Klein and headquartered in Cleveland, Ohio, Safeguard provides the highest quality service to our clients by leveraging innovative technologies and proactively developing industry best practices and quality control procedures. Consistent with Safeguard’s values and mission, we are an active supporter of hundreds of charitable efforts across the country. Annually, Safeguard gives back to communities in partnership with our employees, vendors and clients. We also are dedicated to working with community leaders and officials to eliminate blight and stabilize neighborhoods. Safeguard is dedicated to preserving today and protecting tomorrow.  Website: www.safeguardproperties.com.