Freddie Mac Bulletin 2010-11
May 18th, 2010
With Single-Family Seller/Servicer Guide Bulletin 2010-11 (Freddie Mac HAMP Backup Modification), Freddie Mac is announcing the following changes:
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The Freddie Mac HAMP Backup Modification ("HAMP Backup Modification"), an alternative solution to support Borrowers who were initially eligible for a Home Affordable Modification Program (HAMP) Trial Period Plan based on stated income but have been determined to be ineligible for a HAMP modification
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A Cap-to-Reinstate modification option for Borrowers who are ineligible for a HAMP Backup Modification
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A change to Freddie Mac's HAMP requirements to permit the use of a Servicer's proprietary form to collect the Borrower's financial information in lieu of obtaining Form 1114, Making Home Affordable Program Request for Modification and Affidavit ("RMA")
To view the Bulletin 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.