US Treasury Dept. HAMP Update Q1 2010 Base NPV Model Documentation Supplement Now Available
March 4th, 2010
The US Department of the Treasury has released the following Announcement titled, Q1 2010 Base NPV Model Documentation Supplement Now Available
Q1 2010 Base NPV Model Documentation Supplement Now Available
Beginning today, March 2, 2009, the Q1 2010 Base NPV Model Documentation Supplement is available for Home Affordable Modification Program (HAMP) servicers to implement for use beginning April 1, 2010. The Supplement provides updated data on REO discount, home price history and projection of 110 local housing markets, foreclosure/REO costs and timelines, and home price decline protection payment used in the Base NPV Model.
The Base NPV Model Test Cases -- which include sample loans with fictional data that illustrate the building blocks of the cash flow calculated in the Base NPV Model -- have also been updated to reflect the Q1 2010 Base NPV Model Documentation Supplement.
Both of these resources are now available on the Base NPV Tools & Documents page on HMPadmin.com in the participating servicers section (login required).
Important Actions for Servicers
- HAMP-registered servicers currently using an NPV model that has been implemented or customized* for their own systems should implement the new Q1 2010 Base NPV Model Documentation Supplement data tables for use beginning Thursday, April 1, 2010. *Servicers with at least a $40 billion servicing book may choose to build and implement a proprietary model.
- Servicers must continue using the appropriate supplement data tables from prior quarters to fulfill model versioning requirements (i.e., the 2009 Q4, Q3, Q2, and Q1 data tables).
Questions? Contact the HAMP Solution Center at support@hmpadmin.com or 1-866-939-4469.
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To view the online announcement, 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.