I don't know if there is any great profit advantage for
CW to steer someone into a HomeSaver Forbearance plan instead of HAMP, both of which are Fannie regulated. If there was an advantage,
CW would have to do it on a large scale to make it worthwhile and then the violations would definitely invite scruitny from Fannie and the Feds.
It probably is just gross incompetence of the
CW reps and maybe some thought in their head that they will be earning some type of a commission.
There seems to be no evidence that
CW/Boa has even started the HAMP. They may be bogged down in the refi portion of the Obama plan. The last news release from BOA was on 4-4-09 announcing the start of the refi portion but nothing since about starting HAMP. Also, Fannie has made many changes and updates to the refi plan which must really be confusing to the already weak minds at
CW.
I think
CW must eventually offer the HAMP to us. In my case,the longer it takes the better it is for me because I am not making any payments and stashing a little cash.
Robert77