HAMP Update
November 5th, 2010
The U.S. Department of the Treasury issued a HAMP Update titled, MHA Case Escalation Process/Dodd-Frank Act NPV Notices.
HAMP UPDATE
MHA Case Escalation Process/Dodd-Frank Act NPV Notices
Today, November 3, 2010, Supplemental Directive 10-15: Making Home Affordable Program -- Case Escalation Process/Dodd-Frank Act NPV Notices was issued on HMPadmin.com with an effective date of February 1, 2011. It provides guidance to servicers on the process required for handling certain borrower inquiries and disputes related to the MHA Program. This guidance also outlines the servicer's obligations for tracking borrower inquiries and disputes and conducting reviews in a timely fashion.
In addition, the Supplemental Directive provides guidance to servicers on implementation requirements for portions of the Dodd-Frank Act, and updates guidance in the MHA Handbook related to the format, content, and timing of notices that must be provided to borrowers requesting consideration for the Home Affordable Modification Program (HAMP).
Please see Supplemental Directive 10-15 on HMPadmin.com for important additional information, including details regarding the following topics:
- Treasury's Borrower Support Centers
- Servicer Escalated Case Management
- Escalation Resolution Process
- Non-Approval Notices
- Diputed Property Value Input
- Borrower Net Present Value (NPV) Calculator
- NPV Requirements for Disputed Inputs
- Program Reporting Requirements
- Compliance
HMPadmin.com Outage on November 6
Due to scheduled site maintenance, servicers may find that HMPadmin.com is inaccessible on Saturday, November 6, 2010, from 6 a.m. to 12 noon ET.
Servicers can access the HAMP Reporting Tool and the NPV Transaction Portal through these direct links:
Questions?
If you have questions, do not reply to this e-mail -- please 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 over 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.