Introduction

Announcement 09-05R, Reissuance of the Introduction of the Home Affordable Modification Program, HomeSaver Forbearance™, and New Workout Hierarchy, provided guidance to Fannie Mae-approved servicers on the adoption and implementation of Home Affordable Modification Program (HAMP). Fannie Mae has an ongoing commitment to the success of this modification initiative, and is adopting changes to streamline the program documentation requirements and standardize the evaluation process.

This Announcement contains updates and clarifications to the following topics: 

• Updates to Standard HAMP Documents 
• Changes to Eligibility Determination Based on Net Present Value Evaluation 
• Principal Forbearance Thresholds 
• Verifying Borrower Income and Occupancy Status 
• Modification Process 
• Reporting 
• Clarification of Reimbursement of Administrative Costs

Effective Date

Unless otherwise indicated, all policy changes included in this Announcement are effective immediately.

To view the Announcement in its entirety, please click here