In March 2009, the Obama Administration published detailed program guidelines for Making Home Affordable (MHA) Program. Mortgage servicers were authorized to begin modifications under the plan immediately. With assistance of several government agencies, GSEs and servicers – this effort involved development and refinement of servicer guidelines, modification documents and data collection and modeling tools. Key servicer documents and tools required to service HAMP loan modifications are stored and maintained on HMPadmin.com. This site provides general guidelines and overview documents available to the public as well as secure access to core tools and documents needed to complete the loan modification process. HMPadmin.com continues to evolve just like the Making Home Affordable Program. As new program updates are announced, the servicer documents and tools required to administer those programs are developed and added to this site to allow for a one-stop experience for mortgage servicers.
HMPadmin.com currently maintains servicer tools and documents for the following Programs:
- Home Affordable Modification Program – designed to enable borrowers that meet eligibility requirements to avoid foreclosure by modifying loans to a level that is affordable for borrowers and sustainable for the long-term.
- Second Lien Modification Program – designed to enable borrowers struggling with their mortgage to lower payments on second mortgages.
- Home Affordable Foreclosure Alternatives Program – provides borrowers that do not qualify for a HAMP modification with options to avoid foreclosure through a short sale or deed-in-lieu.
- Treasury FHA-HAMP – designed to enable borrowers with FHA-insured first lien mortgage loans, that are modified under FHA-HAMP, eligible for certain incentive payments under HAMP.
<!–li> Foreclosure Alternatives – allows borrowers that do not qualify for a loan modification with assistance to avoid foreclosure through a short sale or deed-in-lieu</li–>
Overviews and guidelines for servicers to implement these Programs can be found on Supplemental Directives page.