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Freddie Mac speeds up availability of streamlined loan mods

A new Fannie Mae and Freddie Mac streamlined modification program went into effect July 1, 2013, to offer relief to homeowners in danger of a foreclosure. The program is slated to end Dec. 31, 2015.

 · Freddie Mac Multifamily’s Small-Balance Loan (SBL) program continues to grow, having another record year in 2018. The team executed almost 2,800 SBL loans, with $7.4 billion funded, making up 10% of Freddie Mac Multifamily’s volume last year..

At a background briefing today, representatives of FHFA, Fannie Mae, Freddie Mac and Hope Now outlined the guidelines and demonstrated the qualification tools being used to expedite the loan modification process. "FHFA has been working with program participants to get the program up and running as quickly as possible," said Lockhart.

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If you’re struggling to make your monthly mortgage payment, Fannie Mae and Freddie Mac have a loan modification program so your home stays out of foreclosure – and you stay put. The program.

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 · Freddie Mac Announces Immediate Availability of Streamlined Modification for Delinquent Borrowers. Under the Streamlined Modification program, servicers are required to send modification offers to borrowers who are at least 90 days, but no more than 720 days, delinquent on mortgages that are at least 12 months old and meet other eligibility criteria.

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Freddie Mac announced the immediate availability of its streamlined modification program for delinquent borrowers on Monday, pushing up the roll out from its originally scheduled launch.

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 · If you’re 90 days or more late, you meet the eligibility requirements and you send in the new payment amount on time, you get the modification..

The HAMP & GSE Waterfall Worksheet A User’s guide december 10, 2015 4 the Freddie mac primary mortgage market survey rate for 30-year fixed rate mortgages rounded up to the nearest 0.125 percent.3 As of January 1, 2015, the adjustment to be subtracted

The Math Behind Loan Modification. "Straightcapitalization" -no change to the contractual terms of the loan Fannie Mae/Freddie mac streamline modifications –no underwriting. – Forbear up to 1/3 of the principal, but not more than.

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