AHMSI denied "due to Net Present Value test failed" - Loan Modification Forum

eryanna01 · 11-03-2009, 07:36 PM

Hello Everyone,
I received my denial letter for the HAMP program today

The letter states I was denied "due to HAMP Net Present value test failed, that is, the net recovery from a foreclosure is ecpected to exceed the net recovery of the cash flow provided by a HAMP modification of you loan.
Has anyone received this kind of denial? I'm wondering if I have any other options or if I should just moved out..............

heidi79 · 11-03-2009, 07:52 PM

Maybe they determined you have equity in the home. If you want to keep the house, don't give up, call and try to re-apply into an in-house modification with your bank.

eryanna01 · 11-03-2009, 07:55 PM

I'm really confused. When I called to get an explanation to the customer service they were not able "to further explain" My loan balance is about 380,000. The highest my home is currently worth is about 180,000.

ama125 · 11-03-2009, 08:02 PM

You could complain to MHA_compliance@mhacompliance.com. That is a division at Freddie Mac who is responsible for overseeing the auditing of HAMP. You may get a canned response, but if you are specific in that the reason for denial was not given (they should be able to tell you WHY you failed the NPV test), then maybe they will take a second look at it. Good luck and you can always try NACA!

heidi79 · 11-03-2009, 08:07 PM

You can get alot of help by contacting the office of Jeanne Drake, many members were able to get their loans modified by contactin them directly:

Jeanne Drake-Direct phone line 949-784-6011 (executive offices ahmsi)

davephx · 11-03-2009, 11:09 PM

Well if that far underwater which should help the NPV Test something else is very off.

Mostly likely income too low, but they should tell you. That is the problem as pointed out in the petition, they are not REQUIRED to tell you why as I understand it.

But most servicers have been "telling" and some trying to work with you if can be solved. But not being able to know why is one of the huge problems of HAMP.

BadBobMo · 11-03-2009, 11:25 PM

Quote:

My loan balance is about 380,000. The highest my home is currently worth is about 180,000.

Could be income if you post you will get lots of help!

Quote:

My loan balance is about 380,000. The highest my home is currently worth is about 180,000.

Something smells here!
Look you are way under water ask why don't you write down my balance or lower my rate, they can put @ 1% if they want to help!

Hstreet151 · 11-04-2009, 03:44 PM

Are saying you ware denied HAMP Trail, or had completed your trail already, then ware denied?

11-03-2009, 07:36 PM	#1 (permalink)
eryanna01 Member Join Date: Nov 2008 Posts: 11 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	AHMSI denied "due to Net Present Value test failed" Hello Everyone, I received my denial letter for the HAMP program today The letter states I was denied "due to HAMP Net Present value test failed, that is, the net recovery from a foreclosure is ecpected to exceed the net recovery of the cash flow provided by a HAMP modification of you loan. Has anyone received this kind of denial? I'm wondering if I have any other options or if I should just moved out..............

11-03-2009, 07:52 PM	#2 (permalink)
heidi79 Senior Member Join Date: Jan 2009 Location: Miami, Florida Posts: 250 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: AHMSI denied "due to Net Present Value test failed" Maybe they determined you have equity in the home. If you want to keep the house, don't give up, call and try to re-apply into an in-house modification with your bank.

11-03-2009, 07:55 PM	#3 (permalink)
eryanna01 Member Join Date: Nov 2008 Posts: 11 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: AHMSI denied "due to Net Present Value test failed" I'm really confused. When I called to get an explanation to the customer service they were not able "to further explain" My loan balance is about 380,000. The highest my home is currently worth is about 180,000.

11-03-2009, 08:02 PM	#4 (permalink)
ama125 Senior Member Join Date: Jun 2009 Location: Reading, PA Posts: 1,488 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: AHMSI denied "due to Net Present Value test failed" You could complain to MHA_compliance@mhacompliance.com. That is a division at Freddie Mac who is responsible for overseeing the auditing of HAMP. You may get a canned response, but if you are specific in that the reason for denial was not given (they should be able to tell you WHY you failed the NPV test), then maybe they will take a second look at it. Good luck and you can always try NACA! __________________ http://lbdf.lilypie.com/VX6am5.png PETITION TO THE U.S. GOVERNMENT FROM AMERICAN HOMEOWNERS \| Petition2Congress \|

11-03-2009, 08:07 PM	#5 (permalink)
heidi79 Senior Member Join Date: Jan 2009 Location: Miami, Florida Posts: 250 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: AHMSI denied "due to Net Present Value test failed" You can get alot of help by contacting the office of Jeanne Drake, many members were able to get their loans modified by contactin them directly: Jeanne Drake-Direct phone line 949-784-6011 (executive offices ahmsi)

11-03-2009, 11:09 PM	#6 (permalink)
davephx Senior Member Join Date: Jul 2009 Posts: 1,143 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: AHMSI denied "due to Net Present Value test failed" Well if that far underwater which should help the NPV Test something else is very off. Mostly likely income too low, but they should tell you. That is the problem as pointed out in the petition, they are not REQUIRED to tell you why as I understand it. But most servicers have been "telling" and some trying to work with you if can be solved. But not being able to know why is one of the huge problems of HAMP.

11-04-2009, 03:44 PM	#8 (permalink)
Hstreet151 Member Join Date: Oct 2009 Posts: 26 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: AHMSI denied "due to Net Present Value test failed" Are saying you ware denied HAMP Trail, or had completed your trail already, then ware denied?

Thread Tools
Show Printable Version Email this Page
Display Modes
Linear Mode Switch to Hybrid Mode Switch to Threaded Mode