The Dept of Justice Loan Modification Program Guidelines

U.S. NEWS

BofA Settlement Earmarks $7 Billion for Homeowners

Click on L:ink for up to date NEWS on how you can modify your mortgage from this Department of Justice Judgement. August 22, 2014.

http://live.wsj.com/#!3C39340F-D570-4945-AB2C-C7470BDD7033

Consumers are set to receive $7 billion in “relief” from Bank of America Corp. as part of the lender’s record settlement with government agencies. MarketWatch’s Sital Patel joins Simon Constable on the News Hub with the details. Photo: Getty


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Has your bank & denied you a loan modification: We can help you.

Denied refinance:  We can help you. 

Have high interest and mortgage payment: We can help you. 

Modify your 1st-2nd-HELOC-Ballon: We can help you.

File a Complaint against  your bank, get your application re-evaluated: We can help you. 

Check your FREE NPV value: Click here to see your Net Present Value   https://checkmynpv.com/

Ask yourself this question: If I don’t know how to file the bank refinance or MHA Loan Modification forms…..how can I expect apply for a successful Loan Modification?

HAMP.ME can help you: RIGHT NOW. Our Processors know all the forms and proper application procedures. Upon your complete documents submission: usually open a loan modification RMA application. A authorized third Party Agreement is needed for a pre-qualification screening, check if you qualify under the NEW Janurary 10th, 2014 FINAL Rules. 

A Loss Mitigation Analysis will be recommended: to determine your LTV Loan to Value Report, DTI Debit to Income Ratio and possible proposed modification terms under the 2014 Final Rules. The Final Rules are the new federal watchdog Committee CFPB operating guidelines overseeing the banks as a final result of Department of Justice and 49 States Attorney Generals 2012-2014 mortgage fraud violations and U.S Court judgements.

LOSS MITIGATION REPORT Final WS Artwork LMR 3 14 13 pg 2Watermark index  COVER PAGE

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SEE SAMPLE NPV REPORT on right hand Sidebar ———————->

Go to menu for large view of the:  NPV Loss Mitigation Report Sample

Check here to get your  FREE NPV Report FREE: Click here to check your Net Present Value   https://checkmynpv.com/

1.  HAMP.ME can provide a pre HAMP Calculation “HAMP Calculator” of income and expenses, hardship, underwater values and current property value to outstanding mortgage balance. Tells you if you have a qualified claim for a loan modification.

2. We can help you file a Federal complaint against your bank, for modification denial, not qualified: but no real reasons given. Reopen review of your application under the       CFPB Consumer Finance Protection Bureau or Department of Justice Mortgage Settlement Agreement guidelines.

3. We provide you with professional services and products like: NPV Report, Underwater Property to Mortgage Balance Report. Automated or BPO Desktop Appraisals.

If you apply for a refinance or loan modification with your bank; or in foreclosure: if you not have any of the above information: Chances are you will be denied by your bank!

HAMP.ME can provide Processor Services, with 60 day support. Our services and products include: NPV Net Present Value Reports, underwater comps, NPV automated appraisals:used by your bank to qualify or deny your application, DTI Debt to Income ratios, LTV Loan to Value::: We can generate these reports to represent your interest.

NEWS for March, 2014:

  1. Loan Modification NEW FINAL RULES 1/10/2014 
  2. Underwater/ turned down for refinance, qualifies for HAMP/DOJ processing 
  3. VIP Homeowner, monitor your modification progress: at your fingertips! 
  4. Pause Foreclosure
  5. High End Homes Our Specialty
  6. Get a NPV Report (Net Present Value), know your possible modification terms, forbearance value, interest rate and payment options: great for application consideration. NPV shows what your payment range could be!
  7. Fannie Mae/Freddie Mac to be merged into one company, BEST to apply NOW before the modification rules change! 3/12/2014

My name is Roy Jimenez doroy 1

Senior Case Manager

Loss Mitigation 

 

 I will give you a unique solution on your modification chances: 

Simply the truth:  “the good… the bad… and the ugly of your mortgage”

- just the truth!

I work directly with Mortgage Brokers, Law Firms, mortgage processors, direct bank mediation together with your bank loan modification department.

Do you have any of these conditions in  your mortgage, if so: you are qualified to make a claim for a HAMP or Alternative loan modification!

  1. Grossly underwater to your mortgage balance
  2. Your home mortgage is in imminent failure 
  3. Extreme financial or medical hardship  
  4. Late on your mortgage payments
  5. Denied a mortgage application
  6. Your home principle residence
  7. Lower monthly payments or interest rate
  8. Currently in foreclosure, just got my bank notice
  9. Loss of income and your still making mortgage payments
  10. Your income/expenses: at end of the month cash is less than $500.00

You must make a claim to qualify, in time: if you were previously denied a loan modification during 2012-2013: YOU CAN REAPPLY UNDER THE CFPB Consumer Finance Protection Bureau “FINAL RULES” , part of the DOJ Department of Justice 49 States Attorney Generals Settlement agreement with BoA, Wells Fargo, Chase, CITI, Ally & updated 2014 Fannie Mae/Freddie Mac modification rules: all together under  the MHA Making Home Affordable, HUD and Department of Treasury 2014 guidelines.

For More Information

For how to fight a denial for loan modification: “Whats my rights”

Call: HELP Desk    1 213 426 8810

Welcome, as a Senior Case Manager in the Loss Mitigation Analysis Program,       Homeowner has direct online e-monitor of your progress during the modification process, including: Hardship programs with multiple processor options: Save your money!

  1. Review of your mortgage if qualified under current 2014 guidelines  
  2. Purchase NPV Reports, Loss Mitigation Reports, DTI & LTV Reports
  3. Principle reduction comparable values “underwater comps” of your property
  4. Access to all the reports, forms and 60 days processor assistance. 
  5. All the budget savings and product programs you need, SAVE YOUR MONEY
  6. Homeowner Modification Self application with processor support: uploads all required documents for Loan processing, SAVE YOUR MONEY with fixed fees.
  7. If you don’t like your banks offer, file a complaint for review via CFPB Consumer Finance Protection Bureau: gets immediate bank review if qualified and favorable reconsideration! 

I’ll help you:

  • EMERGENCY PAUSE your foreclosure under HAMP/ DOJ Protection Guidelines: gives you time to work out the modification with your bank.
  • Qualify/modify your mortgage under the HAMP/Department of Justice  Loan Modification Program & Guidelines: or FLEX Modification with bank terms.
  • Ask for (3) Trial payments from your bank, show the bank you can afford your trial payments: provide best faith income, expenses DTI-LTV-Loss Mitigation Report, help your bank process move forward sooner than later!
  • Acquire a NPV Report, shorten your trial payment process, sooner not later
  • Loss Mitigation Analysis, know your options before you apply for HAMP

 Together with our modification processing team; we assist you with all the forms, the required documents, STREAMLINING your modification under the 2012-2013-2014 HAMP/ DOJ or Bank Waterfall Processing guidelines.

I work directly with Mortgage Brokers, Law Firms, mortgage processors, direct bank mediation together with your bank loan modification department.

NO UP FRONT FEES 

Home NEWS by:                                                                                                            HAMP.ME, 9107 Wilshire Blvd, Ste 450, Beverly Hills, Ca, 90210, 213 426 8810    

Using the CheckMyNPV.com Tool in Mortgage Modifications

With the government’s CheckMyNPV tool you can estimate your net present value, which determines whether your lender is likely to approve a mortgage loan modification.

IMPORTANT NPV Net Present Value Report UPDATE: a MUST Read! :

https://checkmynpv.com/sites/all/themes/npvtool/pdf/CheckMyNPV-FAQ.pdf

Mortgage servicers and lenders use net present value (NPV) assessments when deciding whether or not to offer you a loan modification. The NPV calculation tends to be confusing to homeowners so the U.S. Treasury Department set up a free online tool to assist you in conducting your own evaluation. Read on to learn more about using the CheckMyNPV.com  tool and how it can help you when pursuing a loan modification from your lender.

Understanding the NPV Test

An NPV assessment evaluates whether it is more cost effective for the owner of the loan to provide a borrower with a loan modification under the Home Affordable Modification Program (HAMP) or to foreclose.

What the Servicer Looks at in an NPV Assessment

As part of the NPV assessment, the mortgage servicer takes into account the following:

  • the property’s fair market value
  • the cost to foreclose, maintain the property, and complete any needed repairs
  • the costs to market and sell the property if no one buys it at the foreclosure sale, and
  • net sales proceeds.

The expected cash flow from a loan modification is also part of the NPV calculation. The loan servicer will look at a borrower’s income, credit score, and mortgage debt information, including:

  • the unpaid principal balance
  • the original loan amount
  • the remaining term, and
  • monthly payment information.

You either pass or fail an NPV test when it comes to loan modifications.

If the test results reveal that a loan modification is NPV positive, then you generally get a loan modification (though this is subject to investor restrictions) because the investor would get a greater return from modifying the mortgage rather than foreclosing. However, if the test results are NPV negative, this means that a foreclosure is more financially beneficial to the investor.

How to Use the CheckMyNPV.com Tool

The NPV model is complicated, however the CheckMyNPV.com website simplifies the analysis by allowing users to input their own information and receive an immediate NPV assessment using the same formula used for HAMP. To conduct a net present value (NPV) evaluation of your situation, go to https://CheckMyNPV.com and select “I’m Ready, let’s begin.”

While the website only provides an estimate of a mortgage servicer’s NPV evaluation, it will give you a good idea of whether or not you qualify for a loan modification.

How to Use the CheckMyNPV.com Tool If You’re Denied a Loan Modification

You can also use the CheckMyNPV.com tool if your mortgage servicer denied you a loan modification due to NPV. Go to the website and enter the NPV input values given in the HAMP Non-Approval Notice received from your mortgage servicer. Then review the outcome provided by CheckMyNPV.com compared to the notice.

If you discover that the servicer used incorrect information in their calculation (such as a significant difference in your gross monthly income or an incorrect property value), you have 30 days to correct any NPV values. Then your servicer is required to re-run the test.

Keep in mind that the results could differ because of variations in input information and other industry-related data. If you get a result that is different that what your mortgage servicer provided, save a copy of the evaluation and call the servicer to discuss the results.

How Can a Foreclosure Be More Beneficial Than a Loan Modification?

You might be wondering how a foreclosure could possibly be more financially beneficial than a loan modification. In many cases, borrowers who are given a loan modification default again at some point in the future and end up in foreclosure anyway. The NPV test takes this into account and estimates the likelihood that the borrower will eventually fall behind in payments again, even if a loan modification is granted. If a borrower is likely to default again, the investor will let the foreclosure proceed since it makes more financial sense to liquidate sooner rather than later.

For More Information

For how to fight a denial for loan modification: “Whats my rights”

Call: HELP Desk    1 213 426 8810