Items Tagged with 'HAMP'


  • FHFA: HARP extended through 2018

    Refinance program previously set to end next month
    The government’s Home Affordable Refinance Program was all set to end next month, September 30, to be exact, but that’s not the case anymore. The Federal Housing Finance Agency announced Thursday that it is extending HARP through Dec. 31, 2018, adding an additional 15 months onto the program’s already extended lifespan.
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  • Fannie, Freddie replace HAMP with new foreclosure prevention program

    Say hello to the Flex Modification foreclosure prevention program
    Fannie Mae and Freddie Mac finally revealed a program on Wednesday that will replace the Home Affordable Modification Program. The government sponsored enterprises announced the Flex Modification foreclosure prevention program, which is designed to help America’s families by offering reductions to their monthly mortgage payments.
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  • Saying goodbye to HAMP isn’t the end for struggling homeowners

    This is what the change means to Fitch Ratings
    Dec. 31, 2016 marks the end of an important seven-year government program. The Home Affordable Modification Program launched to save struggling homeowners who are behind on their mortgage, and will soon come to an end. It’s not all downhill come Jan. 1 though. The New Year brings the start of a new system that can still be beneficial for all parties involved.
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  • What's after HAMP? MBA proposes loan modification program

    "One Mod: Principles for Post-HAMP Loan Modifications"
    With the end of both the Home Affordable Modification Program and the Home Affordable Refinance Program getting close, the government is working to come up with new refinance options for borrowers. The latest program proposal comes from the Mortgage Bankers Association. The MBA's Task Force revealed a program proposal on Friday that is designed to be successor program to the Home Affordable Modification Program.
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  • Monday Morning Cup of Coffee: Fannie Mae sets official date for using trended credit data

    Also: Homebuyers beware of fake HAMP offers
    After market anticipation, the launch date is finally set for the release of Fannie Mae’s Desktop Underwriter Version 10.0. Best part is this update is expected to open up the credit box to potential borrowers previously deemed unworthy. With Home Affordable Refinance Program extended into 2017, it also means that the threat of scammers pretending to offer government-sponsored modifications isn't going away. Beware.
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  • Obama administration presents a look at life after HAMP

    Feds provide a preview of what's next
    Time is ticking on the government's Home Affordable Modification Program and Home Affordable Refinance Program, as both will end on Dec. 31, 2016. In a comprehensive report published Monday, the Treasury, HUD, and the FHFA say that while these programs are set to end this year, the government plans to continue working with the mortgage industry on various loss mitigation programs moving forward, but caution that the industry needs to be prepared to do more.
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