Servicing Policy Update: New HAMP Trial Period Guidance Available

Updated Frequently Asked Questions -- Servicing Guide Announcement 09-05R: Home Affordable Modification Program were published today, July 6, 2009, on eFannieMae.com.  Questions 28-31 provide additional guidance to servicers for trial period and modification timing, as well as guidance for submitting loan-level data for processing during the trial period. The new trial period guidance includes information on the following areas:

The date a borrower's trial period starts under the Home Affordable Modification Program;
Servicer timing and reporting requirements for trial period and loan set up; and,
A new option for servicers in determining the modification effective date.
Additional trial period and modification information is scheduled to be provided in an upcoming Servicing Guide Announcement.

HAMP Reporting Calendar Now Available
For your reference, the 2009 HAMP Operational Reporting Calendar is now available on HMPadmin.com.

Reminder:   All servicers, for GSE and non-GSE loans, must register for the HAMP.  Visit HMPadmin.com for more information
 
 

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.