I've seen quite a few posts asking about the Apollo mod lately so....They've been referencing both on monthly stat reports since we began the new mod program back in November, however we've known little about either. Fannie is now moving to have all servicers use the program. See my post from November, this is the Apollo Mod.
New Fannie Mae Modifications
Our recent bulletin we received indicated that Apollo will now require the use of the Imminent Default Indicator, and imm def will change from 60 days to 90. It was alluded that the Alt24 mod will be the program for those that don't qualify for HAMP and then not for Apollo either.
Our Fannie Mae rep is visiting on the 13th, so I'll know more after then, and will post what I learn.
Hope this sheds some light for people. Thanks.