HAMP Update Servicer Handbook
August 23rd, 2010
The U.S. Department of the Treasury issued a HAMP Update titled, New Servicer Handbook Now Available.
New Servicer Handbook Now Available
Starting today, August 20, 2010, servicers can download the Making Home Affordable Program Handbook for Servicers of Non-GSE Mortgages (Version 1.0) from HMPadmin.com. The Handbook is a consolidated reference guide outlining the requirements and guidelines for the Making Home Affordable (MHA) Program for non-GSE mortgages.
What's Included Currently, the MHA Handbook consists of three chapters:
- Chapter I -- contains standard information affecting all MHA programs (i.e., Servicer Participation Agreements, compliance, etc.)
- Chapter II -- contains specific program information on the Home Affordable Modification Program (HAMP)
- Chapter III -- contains specific program information on the Home Affordable Unemployment Program (UP)
How to Use
Unlike Supplemental Directives (SDs), which outline specific policy topics only, the MHA Handbook is organized so the user can easily find program information in one convenient guide. The MHA Handbook replaces, in their entirety, the following SDs, as well as all related frequently asked questions (FAQs) and related waivers:
- SDs 09-01; 09-02; 09-03; 09-04; 09-06; 09-07; 09-08; and 09-10
- SDs 10-01; 10-02; and 10-04
In addition, the MHA Handbook replaces, in its entirety, the guidance set forth in SD 10-05 under the headings "Servicer Safe Harbor" and "Treatment of Principal Forbearance in HAMP." Effective immediately, you should use the MHA Handbook for all guidance contained in the SDs listed above, which are archived and available from the Program Guidance Archives on HMPadmin.com.
What's Coming
The MHA Handbook will be updated periodically with new policy or procedural changes. Additionally, future editions of the MHA Handbook will be expanded to include policy guidance on related MHA programs and recent HAMP policy directives, including, but not limited to:
- Second Lien Modification Program (2MP) -- SD 09-05R
- Home Affordable Foreclosure Alternatives (HAFA) Program -- SD 09-09R
- Treasury FHA-HAMP -- SD 10-03
- Principal Reduction Alternatives (PRA) -- SD 10-05
Until the above programs are added, servicers should continue to refer to the relevant SDs, FAQs, and waivers for guidance.
Questions?
Contact the HAMP Solution Center at support@hmpadmin.com or 1-866-939-4469.
To view the online HAMP Update, 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 approximately 800 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.