HUD ML 2010-09 Tier Ranking Scores Incentive Round 38
March 10th, 2010
The Department of Housing and Urban Development has released Mortgagee Letter (ML) 2010-09 titled, "Tier Ranking Scores – Incentive Round 38".
This Mortgagee Letter announces the FHA servicing lenders’ Tier Ranking Scores for
Round 38. They were calculated using established criteria for HUD’s Tier Ranking System (TRS),
based on activity during the Performance Period from October 1, 2008 through September 30, 2009.
Tier Ranking Scores determine if a lender is eligible for additional incentives for calendar year
2010.
Lenders ranked in Tier 1 during this round are eligible for the following additional loss
mitigation incentives during calendar year 2010. There are no additional incentives provided for
non-Tier 1 lenders.
1. An additional $100 payment for each Special Forbearance Agreement executed on or after
January 1, 2010, All non-Tier I lenders will continue to be eligible for the standard
incentive payment of $100;
2. An automatic (i.e., HUD’s written approval is not required) extension of two additional
months to continue to market their properties being sold via Preforeclosure Sale for a total of
six (6) months. All non-Tier I lenders will continue to have the standard four (4) month
period to market properties being sold under a Preforeclosure Sale; and,
3. An increase in the reimbursement of foreclosure costs from two thirds to 75% for Part B
claims received by HUD on or after January 1, 2009, for loans endorsed on or after February
1, 1998. All non-Tier I lenders shall continue to receive the standard reimbursement of two
thirds (2/3) of foreclosure costs regardless of the date of the loan is endorsed for insurance.
To view the Mortgagee Letter in its entirety, please click here
About Safeguard
Safeguard Properties is the largest privately held field services company in the country. Located in Cleveland, Ohio and founded in 1990 by Robert Klein, Safeguard has grown from a regional preservation company with a few employees and a handful of contractors performing services in the Midwest, to a national company with over 700 employees. Safeguard is supported by a nationwide network of subcontractors able to perform any requested superintendence, preservation, and maintenance functions, as well as numerous ancillary services in the U.S., the Virgin Islands, and Puerto Rico.