posted
Jun 7, 2010 by REI News
Fannie Mae (FNM: 0.9321 0.77%) has announced its version to the foreclosure Affordable Home Alternatives (Hafa) program on Tuesday, the implementation of the program for all conventional mortgages that are held in portfolios Fannie, which are part of a mortgage-backed securities (MBS) pool with a special option for maintenance, or are part of a venture in which the assets of Fannie Mae MBS acquired markets.
Hafa program that the Treasury Department, the operator can not consider the borrower for Hafa until the borrower is assessed eligibility and is authorized to submit an affordable Home Modification Program (Hamp) training plan. Fannie Mae program into effect on August 1, 2010 and is designed to mitigate the impact of foreclosures on borrowers who are eligible for a loan modification under the Affordable Housing Program Amendments (Hamp), but not to get one, Fannie said.
In addition to training and Fannie Mae Hafa Hamp leaves some troubled borrowers to stay in their homes as tenants under the act of letting (D4L) program. After announcing the program in October 2009, the Treasury Hafa program began in April. Hafa Fannie Mae program is the latest in a series of programs designed to help borrowers avoid foreclosure.
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