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| Making Home Affordable In March 2009, the Obama Administration published detailed program guidelines for the Making Home Affordable (MHA) Program. Many mortgage servicers have begun loan modifications under the plan. But it looks like many homeowners may not be getting the help the they were promised and some are simply getting rail roaded. This forum is designed to discuss these issues with the MHA ands share with others your experience. This forum provides general guidelines and overview documents available to homeowners as well as an open discussion area to ask other homeowners about the loan modification process. |
This is a discussion on Question about the NPV Test within the Making Home Affordable forums, part of the Foreclosure Help category; I was reading the the parameters on the treas.gov website for the npv test. From what I understand that if ...  | 
02-07-2010, 05:51 PM
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#1 | | Senior Member
Join Date: Jan 2010
Posts: 138
|  Question about the NPV Test | |
I was reading the the parameters on the treas.gov website for the npv test. From what I understand that if the loan is in Imminent Default or 60 days delinquent and has a positive NPV result, the servicer MUST modify the loan. Is this accurate information? I am looking on page 16 on the HAMP guidelines. Does that mean all I need to find out is if my loan passed? Please help me understand.
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02-07-2010, 06:19 PM
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#2 | | Senior Member
Join Date: Jan 2010
Posts: 138
| Re: Question about the NPV Test | |
Also, at what point do they do this test? Before the trial mod is offered or after to determine perm mod?
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Philippians 4:13
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02-11-2010, 03:47 PM
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#3 | | Senior Member
Join Date: Dec 2009
Posts: 43
| Re: Question about the NPV Test | |
From what I understand, no lender has to do a darn thing. They CAN modify your mortgage, if they feel it is beneficial to them, but they don't have to, even if you pass NPV. They run NPV before they consider you for a trial and if you pass and they decide to make you an offer, then they run it again at the end of your trial. | |
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02-11-2010, 03:57 PM
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#4 | | Senior Member
Join Date: Jan 2010
Posts: 138
| Re: Question about the NPV Test | |
Quote:
Originally Posted by donnadlc  From what I understand, no lender has to do a darn thing. They CAN modify your mortgage, if they feel it is beneficial to them, but they don't have to, even if you pass NPV. They run NPV before they consider you for a trial and if you pass and they decide to make you an offer, then they run it again at the end of your trial. |
Thank you for the response. This process is a nightmare!
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Philippians 4:13
I can do everything through him who gives me strength | |
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02-11-2010, 05:04 PM
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#5 | | Senior Member
Join Date: Jun 2009 Location: Southern Cali
Posts: 1,232
| Re: Question about the NPV Test | |
also keep in mind that the NPV calculations are now being reffered to as the "black box"...meaning no one knows how they are running their calculations. It is all completely ridiculous.
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02-11-2010, 05:35 PM
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#6 | | Senior Member
Join Date: Feb 2010
Posts: 187
| Re: Question about the NPV Test | |
You can convince your lender that you are at risk for imminent default by talking to them.
Invest an hour, talk to the Loss Mitigation department, bend their ears with your story. If the first person you get on the line doesn't seem to listen, ask to escalate to a supervisor or escalation team member. Then bend their ears.
Be polite but persistent.
Good luck . . . | |
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02-11-2010, 06:04 PM
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#7 | | Senior Member
Join Date: Feb 2009
Posts: 1,854
| Re: Question about the NPV Test | |
Well, if you have a fannie or freddie loan, you might be able to hold their feet to the fire to modify if you pass the NPV hurdle. Personally, I think they should disclose in writing all the figures they use and provide it in a settlement statement. I guess I can always dream,,,, | |
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02-11-2010, 08:46 PM
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#8 | | Member
Join Date: Jan 2010 Location: east coast
Posts: 23
| Re: Question about the NPV Test | |
HELP!!! I have been working on trying to get a permanent HAMP modification since last May, when I was accepted into the trial HAMP,successfully completed, but never was permanently modified when I finished in August 09. After months of lost documents and conflicting, contradictory information I filed a complaint with the OCC and was led to the Executive office at Wells Fargo. Today when I was talking with the the executive specialist, he indicated that I never would of qualified for HAMP even though my loan is owned by Freddie Mac, and he indicated it has nothing to do with my debt or income or all of the info I had been sending to wells over the past year. He indicated that I have some equity in my home, and therefore my NPV automatically would come up negative. He also indicated that no one has any idea how the NPV test works, even his executive collegues that has been working there for years, and that the government has not revealed how this test works. Has anyone heard anything similar? So what is this a trick? Some kind of false hope? Why would any servicer or bank allow someone to spend hours of hard work when they know from the beginning that they will be rejected? I think this is something that seriously needs to be brough to the OCC and Ed Towns attention. Any feedback would be greatly appreciated. | 
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02-11-2010, 08:49 PM
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#9 | | Senior Member
Join Date: Jan 2010
Posts: 138
| Re: Question about the NPV Test | |
Quote:
Originally Posted by snapple candy Well, if you have a fannie or freddie loan, you might be able to hold their feet to the fire to modify if you pass the NPV hurdle. Personally, I think they should disclose in writing all the figures they use and provide it in a settlement statement. I guess I can always dream,,,, |
I guess that is why I was asking... it is a fannie loan. They already denied me twice for a trial mod and unfortunately we defaulted and they finally after 10 months gave us a hamp trial mod. I am just really scared that they are going to deny again and we will really be up a creek.
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Philippians 4:13
I can do everything through him who gives me strength | |
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02-11-2010, 08:52 PM
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#10 | | Senior Member
Join Date: Jul 2009
Posts: 4,009
| Re: Question about the NPV Test | |
The NPV is suppose to be run when set up on trial. If nothing materially changes do not have to rerun NPV you just get a permanent mod.
That is how it is "suppose" to work. But HAMP directives are often ignored at the banks/servicers whim and since their is no law, Tressuary had no enforcement power. | |
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