Fannie Mae Loans

[ChaseVictim]

Wouldn't most of us qualify for the HAMP who's loan is backed by Fannie Mae and attested to a hardship? Why is Chase finding reasons outside of the Hardship Affidavit to deny someone a HAMP?

Anyone who has given the reason "Hardship not permanent in nature"
and has contested reduction in income a job loss by you or a spouse, please dispute.

Status - I'm waiting on the results of the Attorney General review, I've notified the OCC, Also, I've sent an email to the executives. Yesterday, I received a call from Chase and was assigned a case person. Everyone please cross your fingers and pray for me and my Family as I am for all the rest of you on this site who have armed me with knowledge and a strong will to fight.

Thank you!

Fannie Mae's site....

Home Affordable Modification
Through the Home Affordable Modification, Fannie Mae will work with loan servicers across the country to help distressed borrowers modify their current loan into a mortgage that is more affordable and sustainable. Loan servicers participating in the program may reduce interest rates, lengthen the payment time frame or take other steps, such as principal forbearance, to bring the monthly payments down to as low as 31 percent of the borrower's gross (pre-tax) income.

What Borrowers Need to Know:



To modify a loan through Home Affordable Modification, it must be for your primary residence.

• You need not wait to become delinquent with your payments -- a plan can be put in place as soon as you think you may have trouble making your mortgage payment.
• The amount you owe on your mortgage must be less than or equal to $729,750.
• The program is for mortgages originated prior to January 1, 2009.
• Certain eligibility requirements, including attesting to a financial hardship, may apply in some cases.
• To ensure borrowers currently at risk of a foreclosure have the opportunity to apply for a Home Affordable Modification, Fannie Mae servicers have been directed not to proceed with a foreclosure until a borrower has been evaluated for the program.

Home Affordable Modification Program Hardship Affidavit

Borrower Co-Borrower
My income has been reduced or lost. For example: unemployment,
underemployment, reduced job hours, reduced pay, or a decline in self-employed
business earnings. I have provided details under “Explanation” (page 3).
My household financial circumstances have changed. For example: death in family,
serious or chronic illness, permanent or short-term disability, increased family
responsibilities (adoption or birth of a child, taking care of elderly relatives or
other family members). I have provided details under “Explanation” (page 3).
My expenses have increased. For example: monthly mortgage payment has
increased or will increase, high medical and health-care costs, uninsured losses
(such as those due to fires or natural disasters), unexpectedly high utility bills,
increased real property taxes. I have provided details under “Explanation” (page 3).
My cash reserves are insufficient to maintain the payment on my mortgage loan
and cover basic living expenses at the same time. Cash reserves include assets
such as cash, savings, money market funds, marketable stocks or bonds (excluding
retirement accounts). Cash reserves do not include assets that serve as an
emergency fund (generally equal to three times my monthly debt payments). I
have provided details under “Explanation” (page 3).
My monthly debt payments are excessive, and I am overextended with my
creditors. I may have used credit cards, home equity loans or other credit to make
my monthly mortgage payments. I have provided details under “Explanation”
(page 3).
There are other reasons I/we cannot make our mortgage payments. I have

provided details under “Explanation” (page 3).

[ama125]

Have you contacted Fannie Mae directly? BofA is my servicer and I had to complain to Fannie to get the NPV test actually run for my loan. You can also contact mha compliance at Freddie Mac... you'll likely just get some canned response, but the more complaints they get the better the chances they might actually do something! The email is mha_compliance@mhacompliance.com.

[shade]

Is there a phone number for MHA compliance?

[ChaseVictim]

Shade, please keep me posted on working withe the Chase Exec Resolution Team. I just received a call from them and they are looking into my claim because I'm told over and over that both (Borrower/Coborrower) need to be employed to qualify for the HAMP and I don't buy it one bit. I'm supposed to receive a call back by Thursday after the Rep presents my case to upper management.

[shade]

The exec team told me directly when they got me into the trial period...They said you are both on unemployment, to be considered for permanent 1 of you will have to have full time employment. Doesnt matter if its you or your wife but only 1 of you need to have FTE.
I will keep you updated

[jennyb4u9]

ocwens working with fannie mae so watch out don't trust them they lie.good luck.

[nativelasvegan]

Email for MHA Compliance: MHA_Compliance@mhacompliance.com

[ama125]

Originally Posted by shade

Is there a phone number for MHA compliance?

Not that I have seen, though they are a division of Freddie Mac so you could call them 1-800-FREDDIE.

[ChaseVictim]

I have emailed MHA_Compliance@mhacompliance.com how long does it usually take to get a response?

[nativelasvegan]

It usually takes a couple of days. I imagine your email will look like the rest of ours. Please post it if you will. Thanks.

Thank you again, for contacting MHA-Compliance. As mentioned in our previous e-mail to you, while we will look into the issues you have described in your email, we cannot commit to providing a response with specific findings as a result of our review.

There is an established process in place under the HAMP program to provide you with the support you need. Based on the information provided in your email, the best option will be for you to reach out to the Homeowners Hope Hotline at 888-995-HOPE. The hotline is a great resource, and was designed specifically to help address concerns, such as yours regarding the many non-compliance violations you mentioned. Also, they will potentially be able to provide assistance in bridging any communication gaps with your servicer.

Please contact us if you have any additional questions.

Thank you,
MHA–Compliance

[ChaseVictim]

I called the HOPE Hotline and was assigned a Rep. She is trying to get answers for me as well because nobody seems to know why I was denied based on coborrower- job loss. I've been calling Fannie Mae as well and I have yet to receive a call back. When I call I leave a detailed message including my loan number and request a call back. I will definitely post my email on this forum once I get a response from MHA.

[shade]

Thank you for the digging, I may be in the same boat so any info would be so helpful. Thanks