|
|
 |
|
Viewing report
|
|
|
|
HAMP Update: Challenges and Recent Developments
IMF Publications, March 2010
The mortgage industry is scrambling - if not struggling - to get more distressed homeowners into the government’s Home Affordable Modification Program (HAMP). But the pace of so-called permanent modifications is slow as servicers face a host of obstacles, ranging from second liens and vanishing borrower income, to a lack of required documentation. Meanwhile, the government is continuing to tweak HAMP to make it easier to use while promoting additional foreclosure alternatives such as short sales and deeds-in-lieu of foreclosures.
Learn about the latest challenges and developments with HAMP with an Inside Mortgage Finance audio conference. Hear what Bank of America, the largest mortgage servicer in the country, is doing to accommodate HAMP. You’ll also hear from a top attorney and other experts who will discuss the program, its challenges and their best practices advice.
The government has just rolled out new documentation requirements, including a key change that borrower income has to be verified before a trial mod can even be started. Will this significantly increase the pace of permanent HAMP modifications or just slow down the number of trial modifications? And what will it mean for the hundreds of thousands of trial mods already out there without adequate documentation? Get answers to these and other questions surrounding HAMP in 2010.
These Experts Shared Their Insights and Answered Questions:
- Rebecca Mairone, SVP Servicing Executive, Bank of America Home Loans.
- Laurence E. Platt, Practice Area Leader, K&L Gates LLP.
- Bryan Bolton, SVP Loss Mitigation, CitiMortgage.
- Malloy Evans, VP and Deputy General Counsel, Fannie Mae.
- Don Palumbo, VP HAMP Servicer Integration, Fannie Mae.
- Guy Cecala, Publisher, Inside Mortgage Finance will moderate.
Topics for This 90-minute Session Included:
- The big changes in documentation requirements and timing;
- What’s working for servicers today (or not);
- The number one hurdle to permanent HAMP modification;
- Are incentive payments working;
- Challenges of compliance with HAMP;
- Qualifying borrowers for HAMP;
- Short sales, deeds-in-lieu of foreclosure and other foreclosure alternatives - where do they fit in;
- Negative equity, second liens and other default issues;
- GSE requirements for the latest HAMP changes; and
- Best practices, how others are handling challenges, and more.
Customers who bought this item also bought
Gearing Up for HAMP
Real Estate Financing
Short Sales: The New Rules
Dodd-Frank: Servicing and Risk Retention
Dealing With Foreclosure Risk
Loss Mitigation Update: The New Rules
The Mortgage Market Statistical Annual 2012
Mortgage Buybacks 2011: Best Strategies and Practices
Preventing Buybacks: What You Need to Know
Refis and Loan Modifications: Understanding the Latest GSE Initiatives
|
|
|
|
