Freddie Mac Enforcement of HAMP Violations

On August 3, 2010, in Mortgage, by Matthew Forbes

A common trend among consumer protection attorneys is to attempt to stop foreclosures based on the flagrant disregard of by the servicers of the HAMP guidelines that they are bound to follow, either because the loans are owned by Freddie Mac or Fannie Mae, or because they signed Servicer Participation Agreements.  Most often, when a […]

Major Changes in HAMP Loan Modifications

On July 13, 2010, in Mortgage, by Matthew Forbes

Pursuant to the Treasury Department’s Supplemental Directive 10-01, issued January 28, 2010, mortgage servicers are required to fully verify borrower eligibility prior to offering a trial period plan under the Home Affordable Modification Program (“HAMP”), began on June 1, 2010. If actually followed, this will significantly change the time and protocol for determining permanent HAMP eligibility.

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