Loans, Debt & Credit - View Single Post - Wachovia and HAMP modification-anyone having success?

Persistent1 · 08-04-2009, 02:25 PM

I have been calling Wachovia on a regular basis for the last few months, and have been given a new "target" roll out date for the HAMP every time. In my most recent conversation, I was given the same timeline that WIZARD identified above. At least Wachovia is now keeping the story consistent.

In addition to what WIZARD already shared above, I was also told that the e-mail address that I was previously given (lmo_processing@wachovia.com) was no longer going to be used for accepting modification documentation, and that documentation would only be accepted as a hard copy sent to the mailing address. It was confirmed to me that the hard copy mailing address is as follows:

Wachovia Mortgage
Loss Mitigation
4101 Wiseman Blvd
Mail Code TX 1617
San Antonio, TX 78251

Here is another carrot for everyone - in my research of the Home Affordable Modification Program (HAMP,) I found the administrative website used by the servicers/banks to download the guidelines, forms, etc., pertaining to the HAMP. It contains program guidelines, supplemental directives, a description of the NPV (net present value) model used in the process, etc. This will give you a roadmap of the qualification and documentation criteria used for the federal HAMP:

https://www.hmpadmin.com/portal/index.html

What I can't figure out is whether or not the banks (i.e. WF / Wachovia) that have taken TARP funds are REQUIRED to do the modification for anyone who qualifies under the Dept of Treasury criteria. Any answer to that (that can be backed up) would be greatly appreciated.

Good luck to everyone.

08-04-2009, 02:25 PM	#61 (permalink)
Persistent1 Junior Member Join Date: Aug 2009 Posts: 1 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Wachovia and HAMP modification-anyone having success? I have been calling Wachovia on a regular basis for the last few months, and have been given a new "target" roll out date for the HAMP every time. In my most recent conversation, I was given the same timeline that WIZARD identified above. At least Wachovia is now keeping the story consistent. In addition to what WIZARD already shared above, I was also told that the e-mail address that I was previously given (lmo_processing@wachovia.com) was no longer going to be used for accepting modification documentation, and that documentation would only be accepted as a hard copy sent to the mailing address. It was confirmed to me that the hard copy mailing address is as follows: Wachovia Mortgage Loss Mitigation 4101 Wiseman Blvd Mail Code TX 1617 San Antonio, TX 78251 Here is another carrot for everyone - in my research of the Home Affordable Modification Program (HAMP,) I found the administrative website used by the servicers/banks to download the guidelines, forms, etc., pertaining to the HAMP. It contains program guidelines, supplemental directives, a description of the NPV (net present value) model used in the process, etc. This will give you a roadmap of the qualification and documentation criteria used for the federal HAMP: https://www.hmpadmin.com/portal/index.html What I can't figure out is whether or not the banks (i.e. WF / Wachovia) that have taken TARP funds are REQUIRED to do the modification for anyone who qualifies under the Dept of Treasury criteria. Any answer to that (that can be backed up) would be greatly appreciated. Good luck to everyone.