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Robin
Sentinel


Joined: 30 Aug 2007
Posts: 3416
Location: Loveland, OH

HUD Announces positive pay mortgage plans
PostPosted: Mon Mar 29, 2010 9:41 pm Reply with quoteBack to top

Withholding any personal or professional comment:

Quote:
This is the HUD national homeownership center reference guide mailing list for real estate industry professionals that are interested in updates to HUD Mortgagee letters, notices and guidebooks, & FHA Housing Industry Training. Please visit our homepage at: http://www.hud.gov/offices/hsg/sfh/hsgsingle.cfm Servicing lenders can visit HUD's National Servicing Center at: http://www.hud.gov/offices/hsg/sfh/nsc/nschome.cfm This list does not provide HudHome property listings.

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U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT WASHINGTON, DC 20410-8000

ASSISTANT SECRETARY FOR HOUSING-FEDERAL HOUSING COMMISSIONER

March 26, 2010

MORTGAGEE LETTER 2010-11

TO: ALL APPROVED MORTGAGEES

SUBJECT: AVAILABILITY OF TREASURY SUCCESS PAYMENTS FOR FHA-HAMP MODIFICATIONS



The Treasury Department (“Treasury”) has issued Supplemental Directive 10-03 announcing that borrowers and servicers of qualified FHA-HAMP modified mortgages may be eligible for Borrower Pay for Performance Success Payments and Servicer Pay for Success Payments from Treasury. Under the Directive, FHA-Approved Servicers are eligible for Success Payments only if they have executed a new or amended Servicer Participation Agreement and related documents with Fannie Mae, in its capacity as financial agent for the United States as designated by the Treasury Department, by October 3, 2010, and the FHA-HAMP mortgage meets all FHA and Treasury requirements for these success payments...



To read this mortgagee letter and any attachments in their entirety, please visit: http://www.hud.gov/offices/adm.....mortgagee/ view the 2010 letters and click on the letter of your choice. Mortgagee Letters from previous years can be found on the same page.
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