See Related Links on this page for additional information on US Treasury programs.Most states involved in HHF have developed programs that may be administered by their respective Housing Finance Agency (HFA) to help borrowers with home retention or disposition alternatives to foreclosure. The servicer must not charge the borrower administrative fees.The servicer must waive all late charges, penalties, stop payment fees, or similar charges upon successful completion of the Trial Period Plan.
For details, please see Fannie Mae Lender Letter LL-2016-06 and One Mod.Ben Lane is the Senior Financial Reporter for Housing Wire. Previously, he worked for Town Square Buzz, a hyper-local news service. In this role, he helps set a leading pace for news coverage spanning the issues driving the U. Refer to B3-4.3-03, Retirement Accounts, for the requirements pertaining to the use of retirement accounts for the down payment, closing costs, or reserves. If the first lien mortgage loan is permanently modified under Fannie Mae HAMP and there is a second lien mortgage loan on the same property, 2MP helps eligible borrowers achieve greater affordability by lowering payments on their second lien mortgage loans as well.is based on the Flex Modification program jointly developed by Fannie Mae and Freddie Mac at the direction of the Federal Housing Finance Agency.