Fanie Mae

Loan Workout Hierarchy for Fannie Mae Conventional Loans The following gameboard identifies the Fannie Mae loss mitigation options that argon available to assist borrowers experiencing pecuniary hardship. Generally, each option should be considered in the order in which it appears. However, you should implement the option that best fits the overall situation. Forbearance Forbearance is a temporary reduction or suspension of payments which must be immediately followed by an arrangement to cure the delinquency. Learn More. refund Plan A repayment plan is an arrangement in which a borrower agrees to repay past due amounts while still devising regularly scheduled payments. Learn More. Retention Fannie Mae category Affordable modification Program (HAMP) The Fannie Mae Home Affordable variety Program (HAMP) is knowing to answer at-risk homeowners both those who are in default and those who are at imminent risk of default by providing the borrower with cheap and sustainable monthly payments. Learn More. Fannie Mae Second Lien readjustment Program (2MP) The Second Lien Modification Program (2MP) is designed to work with the Fannie Mae Home Affordable Modification Program (HAMP) to help pensionable borrowers by lowering payments on both starting line lien and second lien mortgage imparts. Learn More.

Fannie Mae stock Modification A modification changes the terms of a mortgage loan to make it more affordable for the borrower. The changes may include changes to the interest rate, loan balance or loan term. Learn More. Home Affordable Foreclosure Alternatives Program (HAFA) HAFA is designed to reach those borrowers that are eligible for but unsuccessful under the Fannie Mae Home Affordable Modification Program (HAMP). HAFA provides the option of first, a short sale and second, a deed-in-lieu of foreclosure (DIL) to provide HAMP-eligible borrowers with an alternative to foreclosure. Learn More. Liquidation Fannie Mae Preforeclosure/Short Sale A... If you want to lounge about a full essay, order it on our website: Orderessay

If you want to get a full essay, wisit our page: write my essay .