New Directives and Codes from Treasury

[litehouse01]

I was looking around on the treasury website and I found Supplemental Directive 09-06 which is the latest they have come out with and the denial codes are there and a bunch of other stuff has anyone seen this???????
https://www.hmpadmin.com go to supplemental directive 09-06 print it out its quite long 15 pages long I haven't had chance to go all thru it yet..everyone take a look if you can.....I am not computer savvy so I can't get it into this post maybe someone can do it for me.

[litehouse01]

just google... Supplemental Directive 09-06 and go all the way to the bottom of the page where it says 'NEW" Looks like there are 13 codes..

1. Ineligable borrower
2. Ineligable borrower-current DTI less than 31%
3. Property not owner occupied
4.other ineligable property (ieroperty condemed, Property 4 units)
5.Inverstor Guarantor Not Participating
6.B/K COurt Declined
7. Negitive NPV
8.Offer Not accepted by Borrower/ Request Withdrawn
9.Default Not Imminent
10.Pervious official HAMP Modification
11.Loan Paid Off or Reinstated
12. Excessive Forebearence
13. Request Incomplete

[litehouse01]

14. Trial Plan in default

I forgot the last one as my husband was talking to me and I got distracted.............

Again this is supplemental directive 09-06

[mintdeer]

Does NPV stand for negative property value? I think I was denied for this reason. Can't we be negative by 25%? And if that is the case then almost everyone should get denied as most of us are upside down in our loans right? Oh well just another list of excuses to deny everyone, that's what I think.

[caldwellb02]

This is interesting. From the servicers perspective it's kind of like grant reporting. I hadn't realized that. I know alot about grant reporting, and alot about the ethics of grant reporting. It's a temptation to tweak a report to make it look as good as it can look so you can keep getting the funding.

[litehouse01]

NPV stands for Net Present Value...I think the more underwater you are the better your chances...Net Present value determines based on the current value of your home vs what you owe is it cheaper (more cost effective) for them to foreclose or offer you a modification

[litehouse01]

you know I don't see any denial code that says hardship not permenate????

[SherryB]

LOL Litehouse 01. I was looking for that too.