Making Home Affordable...July 2014 | Making Home Affordable 5 Over 1.3 million have started HAMP...

July 2014 | Making Home Affordable

Making Home Affordable Working Together to Help Homeowners

2 July 2014 | Making Home Affordable

MHA Offers Solutions

MHA and related programs work together to help homeowners avoid foreclosure.

Historically Low

Mortgage Interest Rates

Breathing Room for

Unemployed

More Affordable Payments

Help When You Owe More Than

the Home is Worth

Transition from Home Ownership AVOIDING

FORECLOSURE


MHA Extended through 2016 “…the Secretary announced an

extension of the MHA program for at

least one year…” “Families and neighborhoods across the country continue to recover from the financial crisis, and we must not lose our resolve to help them, even as the economy continues to expand,” said Secretary Lew.


MHA Provides Relief to Struggling Homeowners

Over 2 million actions taken to help homeowners.

Note: First Lien Permanent

Modifications and HAFA

numbers include GSE Standard

Modifications and GSE HAFA II

Transactions, respectively

*Total does not include 3.1

million Home Affordable

Refinance Program (HARP)

refinances. Source: Making Home Affordable Program

Performance Report Through April 2014

MHA Foreclosure Avoidance Programs Homeowner Assistance

Actions

MHA First Lien Permanent Modifications Started* 1,596,848

Second Lien Modification Program (2MP) Started 133,705

Home Affordable Foreclosure Alternatives (HAFA) Transactions Completed

288,599

Unemployment Program (UP) Forbearance Plans Started

39,534

Total 2,058,686*


Over 1.3 million have started HAMP permanent modifications.

HAMP Provides Relief to Struggling Homeowners

Source: Making Home Affordable Program

Performance Report Through April 2014

45,796 Active permanent modifications in

Riverside-San Bernardino-Ontario, CA MSA

*Source: HAMP Activity by Metropolitan

Statistical Area as of April 2014

15,513* Active permanent modifications in

Sacramento-Arden-Arcade-Roseville, CA MSA


Important Progress

Programs are providing relief for millions as we continue to recover from an unprecedented housing crisis.

Source: Housing Scorecard. The Obama Administration’s Efforts To Stabilize

the Housing Market and Help American Homeowners, May 2014.


Continued Fragility Overall

Foreclosures trend downward, but housing market is still fragile.

Source: Housing Scorecard. The Obama Administration’s Efforts To Stabilize

the Housing Market and Help American Homeowners, May 2014.


While we see signs of recovery, many families and communities continue to struggle with foreclosure.

There’s Still Work to Do

Source: RealtyTrac


95 events put over 77,711 homeowners face-to-face with housing counselors and servicers.

Event partnership with HOPE

Now, HUD, and

NeighborWorks America

ensure events of high quality.

Outreach Events for Homeowners


We’re traveling to Riverside, CA for our 96th event.

Learn more at

MakingHomeAffordable.gov

Help for Homeowners Event


We’re traveling to Sacramento, CA for our 97th event.

Learn more at


Help for Homeowners Event


Partner with us on foreclosure prevention in Riverside and Sacramento, CA.

Get Involved!

What You Can Do… Point of Contact

Volunteer Barbara Floyd Jones [email protected] 202-220-2303

Exhibit in our Resource Area

Brad Dwin [email protected] 202-589-1938

Promote the Events Carol Lambert [email protected] 202-927-9372


Promote the Event


HMPadmin.com

HMPadmin.com

• MHA Program Guidance

• Online Learning

• Resources

• Newsletters


• HAMP Tier 1 modifications included interest rate reductions to as low as 2% for the first five years to provide deep and immediate savings.

• Most in HAMP Tier 1 modifications will experience a gradual interest rate increase of 1% per year until the rate adjusts to the market rate at the time of their modification.

After the first interest rate increase, the median monthly payment increase will be about $95.

After all increases, the monthly payment increase will amount to a median $200.

Homeowners should prepare for changes in their interest rates and payments.

HAMP Interest Rate Step-Up

Homeowners with Fannie Mae or Freddie Mac owned HAMP loans,

should contact Fannie Mae, Freddie Mac, or their servicers.


HMPadmin.com | Learning Center

Upcoming Webinars for Trusted Advisors

Case Escalations for Trusted Advisors July 10, 2014 | 2:00 – 3:00 p.m. ET Understanding the Terms of a HAMP Modification: Interest Rate Step-Up, Impact, and Resources July 17, 2014 | 2:00 – 3:00 p.m. ET Second Lien Modification Program (2MP) for Trusted Advisors Tuesday, July 22, 2014 | 2:00 p.m. – 3:00 p.m. ET HAMP A to Z for Trusted Advisors Thursday, July 24, 2014 | 2:00 p.m. – 3:30 p.m. ET


MHAStorefront.com

Order MHA brochures and posters. Have them shipped to you at no cost.


Industry Resources

Resources are in place to help.

Mortgage-Help Resources

HAMP Solution Center

• (866) 939-4469 • [email protected]

Fannie Mae • (800) 7Fannie • KnowYourOptions.com • [email protected]

Freddie Mac • (800) Freddie, select option 2 • FreddieMac.com

FHA Loans FHA National Servicing Center

• (877) 622-8525 • HUD.gov/offices/hsg/sfh/nsc/nschome.cfm

USDA RHS Loans Centralized Servicing Center

• (800) 414-1226

VA Loans • (877) 827-3702 • HomeLoans.va.gov


MHA.gov

• Program options

• Participating mortgage companies

• Eligibility tools

• HOPE Hotline

• New landing pages in additional languages



Hardest Hit Fund Supports 18 States Plus DC

HHF programs offer help for unemployed homeowners,

principal reduction, and transition assistance.

Visit MHA.gov for more

information.

HHF States Alabama Arizona

California Florida Georgia Illinois Indiana

Kentucky Michigan

Mississippi Nevada

New Jersey North Carolina

Ohio Oregon

Rhode Island South Carolina

Tennessee Washington, D.C.


Discussion/Questions

U.S. Department of the Treasury

Homeownership Preservation Office

http://www.makinghomeaffordable.gov/learn-more/videos/Pages/default.aspx?vid=y7QrjafITuQ&

http://www.makinghomeaffordable.gov/learn-more/videos/Pages/default.aspx?vid=6n_nB-tJ6jo&

http://www.makinghomeaffordable.gov/learn-more/videos/Pages/default.aspx?vid=XbPaLHFHL7A&

Making Home Affordable...July 2014 | Making Home Affordable 5 Over 1.3 million have started HAMP...

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