Attention all LoanSafe members only: (Update: Free Reports Are Over)
The owner of REST Report Matters have decided to offer LoanSafe.org members a great discount of 10% to 15% off their normal price.
Your discount will depend on your hardship.
FAQ's From the REST Report Matters Website:
What is the REST Report Matters?
The REST Report Matters is a standard industry "loan disposition analysis" software tool kit made for consumers and run by a team of expert users that generates a loan valuation report using specific information about you, your property and your mortgages under different loan scenarios such as loan modification (6 options), short sale (one option), and foreclosure (two options).
RESTReportMatters.com runs proprietary algorithms and Net Present Value analytics based on the same software platform used by servicers to decide and determine whether it is in the best financial interest of your investor to modify your loan.
They also include a robust "Affordable Payment Analysis" and an "Estimated Property Value comparison to Net Present Value Analysis" to see at what home value, the NPV turns from positive to negative and uses the latest US Treasury approved and developed decision support for loan modifications and short sales.
The REST Report Matters allows homeowners to know with certainty whether they qualify for a HAMP loan modification Tier 1 or Tier 2 using NPV 5.0 or several in house loan modification types for Jumbo loans or non-HAMP eligible loans, and what the terms of that modification would be, BEFORE they apply, after they have applied or have been denied, so no one has to go trough the costly, stressful and/or time consuming process for nothing and can now know what income they need to qualify and what to expect for payments as a result of a modification or why to push back if denied.
REST is just an acronym for Real Estate Services and Technology and runs the most up to date NPV analytics version 5.0 as required by the United States Department of Treasury, and is built on the same platform your mortgage servicer sues to determine your eligibility for loan mods, short sales or foreclosure.
How can I use my REST Report Matters?
Homeowners can send a copy and instructions of what terms they are seeking based on their REST Report Matters to their lenders or servicers and mortgage investor, along with the required income and hardship proof supporting documentation, when they apply for a loan modification.
Please visit www.RESTReportMatters.com or call 877-737-8440 ext 115 or ext 129 to obtain more information via phone or collect as much information to complete the inputs below and them email them to email@example.com to get started.
Here is one of the best and long time LoanSafe Members, DavePhx on the REST Report Matters. Dave joined in July 2009 and has helped thousands of homeowners on this forum with solid advice and support. He has over 4,875 posts and is well respected here. You can verify Dave's original post here.
To further assist Loansafe.org members, they have decided to post the RESTReportMatters.com and LoanModHelpCenter.com needed Inputs to perform a Loan Disposition Analysis used in our Silver, Gold and Platinum product toolkits.
If you want to order your own analysis this is all the information we need emailed to firstname.lastname@example.org along with payment method (visa, mastercard, amex, check, cash, direct deposit which will be due once analysis is ready to be completed) and product toolkit choice and time for a telephone call appointment if desired.
An example of a toolkit bundle is found at this link www.restreportmatters.com/downloads/example.pdf.
Pricing and features of each bundle are found at the end of this post.
Don't worry if you can't get everything below, it can be done for you or with you if you ask.
These are the inputs and some may not apply to you.
If it says NEEDED, then that means it is needed for analysis.
NEEDED Loan Number: your mortgage loan number
NEEDED Data Collection Date: This is the date you have all of your inputs collected in full (xx/xx/xxxx)
NEEDED Borrower First Name:
NEEDED Borrower Last Name:
Optional Borrower Fico Score (lower of two or middle of three): michael likes creditscore.com
Optional Co-Borrower First Name:
Optional Co-Borrower Last Name:
Optional Co-Borrower Fico Score:
NEEDED House Number:
NEEDED Is property occupied? Yes or No
NEEDED Zip Code:
NEEDED Property Type: Single Family Residence, or Condo, or Town home, Duplex, triplex, 4 unit, Manufactured or Mobile.
NEEDED Monthly Gross Rental income if rental property: (HAMP Tier 2 and in house mods are done on rental properties)
NEEDED Usage: owner occupied, investment, second home
NEEDED Condition of property: good, fair, excellent, poor
NEEDED Estimated Property Value: check zillow.com low value range
NEEDED Estimated Property Value Source: a broker's price opinion is a good alternative to zillow.com
Monthly Homeowner’s Association: if there is an association due
NEEDED Monthly Real Estate Taxes: take yearly and divide by 12
NEEDED Monthly Hazard Insurance: take yearly and divide by 12
Monthly Flood Insurance: if this is required to have by your servicer please include it
Investor: Fannie Mae, Freddie Mac, Private, Portfolio. Look up Freddie Mac or Fannie Mae owned loans by checking here. Private means that the servicer is servicing the loan for another investor and portfolio means that the loan is owned by the servicer.
NEEDED Servicer: name of servicer
NEEDED Mortgage Type: Is it a conventional loan or does it have mortgage insurance like an FHA loan?
Monthly Mortgage Insurance Premium: not necessary if unknown
Mortgage Insurance Coverage %: not necessary if unknown
Note Date: (in this format xx/xx/xxxx): this is the day you signed your promissory note and agreed to start paying your mortgage back. If refinanced, this is the day of the refinance note. nice to have but not mandatory.
NEEDED First Payment Date: call your servicer and ask when the first payment was or look at your loan docs it will say when first payment was due
NEEDED Product Before Modification: is your loan an adjustable rate mortgage, option arm, or fixed rate mortgage?
Next Date of rate adjustment if ARM:
Next rate at adjustment if known:
NEEDED Original Loan Amount:
NEEDED Original Interest Rate:
NEEDED Loan To Value at Origination (loan amount at origination divided by sales price or appraised value at refinance, expressed as percentage usually 60% to 100%):
NEEDED Current Unpaid Balance: check your mortgage statement or call your servicer
NEEDED Current Interest Rate: check your mortgage statement or call your servicer
NEEDED Current Monthly Principal and Interest payment: This is the minimum payment you have to make each month per your mortgage statement, even if it is not all of the principal and interest. It is the minimum amount your servicer will accept for payments or the minimum payment due when you went into default if you are behind more than 60 days and have stopped receiving mortgage statements.
NEEDED Monthly Gross Income for Borrower: This is the monthly income before taxes are deducted from paychecks or the fixed income received monthly if on fixed income. For self employed borrowers this is from the net income from the business and your percentage ownership. Don't worry if you don't know how much you need, the analysis will let you know how much minimum income you need once it is completed
NEEDED Monthly Gross Income for Co Borrower: same as previous for borrower
NEEDED Monthly Gross Income for anyone else in the household:optional, you don't need to disclose this and can be used or not used depending on what the analysis says
NEEDED Total of All Monthly Expenses excluding this loan PITIA: This is the sum of all other monthly obligations other than this monthly mortgage Principal, Interest, Taxes, Insurance, and Association dues. We can help get this precise when we do the analysis
NEEDED Primary Residence Housing Expense (PITIA) if this loan is for a rental property: If you are trying to modify a rental property, then the primary mortgage PITIA is needed as well
NEEDED Delinquency Classification: Are you 30 days or less past due, 31-59 days, 60+, 90+, 120+, NOD, NOS, Foreclosure?
NEEDED Current Months Past Due: check your mortgage statement or call your servicer or check your online account at your servicer's website
NEEDED Maximum Months Past Due Last 12 Months: were you more than 60 days past due and then caught up? this measures how many months delinquent you were in the past 12 months to see if you keep falling behind or not.
NEEDED Reason for Default: This includes things like
*Not late, current on payments
*Excessive Obligations other than this mortgage
*Curtailment of income (reduction)
*Abandonment of Property
*Death of Borrower Family Member
*Death of Principal Borrower
*Death of Spouse
*Distant Employment Transfer
*Energy Environment costs
*Illness of Borrower Family Member
*Inability to Sell the Property
*Payment Adjustment That Made Loan Payments Unaffordable
*Transfer of Ownership Pending
NEEDED Delinquent Interest or amount of monthly payments past due (this amount will be capitalized):
NEEDED Delinquent Taxes and/or Insurance and/or Dues (this amount will be capitalized):
NEEDED Current Mod Status: Pick one of the following, previously denied, failed trial mod, failed permanent mod, none
NEEDED If Previously Modified, the Monthly Modified Principal and Interest Payments:
Investor Risk Premium Percentage if known:
Market Rate From Freddie Mac Market Survey Rate if known:
Mortgage Insurance Partial Claim Amount if known:
Fannie or Freddie Allowed Fees to be Capitalized if known:
Escrow Amounts, if any, Servicer advanced for Borrower to be Capitalized if known:
Investor Paid Mod Fees if known:
Tier 2 Minimum Interest Rate if known:
Tier 2 Maximum Term if known:
Tier 2 Maximum Forbearance Amount if known:
Tier 2 Maximum Forgiveness Amount if known:
That completes the input list.
Just copy the above inputs, and send it in to email@example.com or do he best you can with getting what you can and call in and get the information on a conference call with your servicer or advocate. 877-737-8440 ext 129 for michael or 115 for peter.
Re-evaluations are free for the first 5 within 90 days and then go to $100 per re-evalution.
You can always fax it on or print it out and send it via mail but call in first for special handling instructions if you are printing and mailing it so the data is as accurate as possible.
What you get with the gold and platinum package is help getting the above information as well as conference call with your servicer and a budget consultation or help preparing a solvent crisis budget.
There are attorneys and agents ready to answer questions about how to use the analysis in mediation, litigation, modification requests, short sales or bankruptcies as well as escalation specialists who will assist users in getting their analysis under consideration.
The three different price points are around $600, $900 and $1500 for the silver, gold, or platinum software tool kit bundles before discount, depending on if you want a full package submission to go along with your analysis or you want to do things yourself and how much support you need and using them in conjunction with a servicer provider to do the mod for you runs around $3,000 to $5,000 for service (contingency fee is based on performance, only if successful at achieving mod offer or short sale offer or cash for keys) or sometimes more, if you can't do it on your own or just don't want to talk to your servicer.
The platinum software analysis package comes with 10 hours of support as well as transmission and confirmation of receipt by third party for the homeowner.
The mod service fees of $3,000 to $5,000 are due when a mod is offered or short sale is accepted or a cash for keys has been resolved and you are satisfied with the results by making your first modification/special forbearance/trial/trail mod payment under the Mortgage Assistance Relief Service Rule made by the Federal Trade Commission.
The software licenses alone are per loan and cost $250.00 just for the license and without any labor which is $75 to $150 an hour depending on client so the silver, gold and platinum packages are a bundle package.
Attorneys, agents and advocates who are looking to become affiliates are encouraged to ask about how to get their own username and password to REST Report Matters 24 hours 7 days a week access and training so that they can help more of their clients and affiliate pricing is $500 if purchased in 2 two or more quantity with no long term or other commitments.
Loan Mods through Loan Mod Help Center partners generally cost $3,000 to $5,000 to $10,000 depending on the circumstances from the experience of REST Report Matters and Loan Mod Help Center (they never charge an upfront fee for services but are affiliated with REST Report Matters).
Short Sales usually net an agent at least 1 to 3% of the home price so it is easily a $2,000 minimum cost for an agent to do a short sale (due upon closing of escrow).
Of course, there are no upfront fees and each case is unique so go ahead and ask about your case there is never an obligation as REST Report Matters and Loan Mod Help Center always do free income and property analysis to see if you would benefit from spending money on the service or product tool kit. 877-737-8440 ext 129 michael or 115 peter or via email firstname.lastname@example.org
You can also use the tool kit with the attorney of your choice or advocate of your choice as REST Report Matters has plenty of advocates to choose from across the country.
Over the years.. yes years.. we have only had a few folks from "inside" who actually process mods or know from within banks what is going on or mod folks working directly with banks.
As the inside person said (whose post just got deleted) said, it is against their ethics or employment rules to discuss modifications from "inside" and could not participate as I recall to help people like REST Report Matters has done.
In my view some of the most helpful posts in the past have been from "insiders" who see piles and piles of mods vs just us knowing what is going on with ours. But after a few weeks then tend to vanish - probably because their employers were alerted the were actually trying to help from the "inside" against their rules.
While LoanModHelpCenter.com obviously has a vested interest in REST Report Matters in my view it is the only "real" way to prove the banks should modify - they paid a fortune to get the system, hire staff etc. This is what is called the free enterprise system where someone creates a product that fills a need and sells it.
But I don't think like ****** or brokerinNCal that he abused the board and in fact has provided very helpful in my view good "inside info" that is not all about selling REST Report Matters.
On the other hand I know of no other options to prove using the real deal HAMP rules to fight for a mod with as long as the banks claim they are reviewing for HAMP and then proof that you qualify. Or, if you don't know you don't but REST Report Matters does a lot of prescreening it seems to folks won't just waste their money if obvious not worth it to run REST Report Matters.
Of course nothing can be assured since banks violate HAMP directives every minute. But if REST Report Matters shows they should modify it would seem to be very strong ammo far better than lawyers trying to file expensive lawsuits where chance of winning seems less than 50% even with good lawyers.
LoanModHelpcenter.com has also discussed real cases some of them from folks here confirming where REST Report Matters got mods when they were otherwise about to give upl
I of course have no financial interest in this and when LoanModHelpCenter.com first came on I challanged them in depth on some points. They answered all my challenges and I know he actually knows what he is talking about and I believe they are very sincerely trying to help. And earning a profit from a desired product is the American way.
Further to get Moe's support after all the scams here he has seen is amazing.
In conclusion if you don't want to hear about REST Report Matters, just skip the posts but some of us value the real life experiences of LoanModHelpCenter.com and his other staff that have posted here and for some his info is valuable.
REST Report Matters far more valuable and less expensive than a lawyer who has little advantage unless expensive lawsuits are filed with unknown and so far very mixed results based on various legal theories.