Home Affordable Modification Program Tools Overview
Servicers must perform a U.S. Department of the Treasury (Treasury) net present value (NPV) test for all eligible mortgages to compare the modification terms under the program to the estimated loss if the property were to go into foreclosure when they are qualifying the borrower for a Trial Period Plan.
The Treasury NPV Model is accessible on HMPadmin.com. A user ID and password are required for access to this special Servicer Web page, which can be obtained by completing and submitting the HAMP Registration Form.
Imminent Default Indicator®
Imminent Default Indicator is a Freddie Mac HAMP servicing tool that is available to help you determine if a borrower with a Freddie Mac mortgage is in imminent default. This tool replaces a portion of the current imminent default evaluation for modifications under HAMP, and is required when conducting imminent default evaluations.
Imminent Default Indicator is accessible from our Servicing Technology Tools Web page using your Workout Prospector User ID and password. The tool can help you identify most borrowers who are in imminent default. However, the determination of a borrower’s imminent default status will remain with you if Imminent Default Indicator is unable to determine whether the borrower is in imminent default. In addition, this HAMP servicing tool:
- Provides a consistent and standard method to aid in evaluating borrowers with less than $25,000 in cash reserves.
- Assists in performing due diligence to better assess a distinct borrower risk profile.
- Offers a more streamlined, automated approach to borrower evaluations.
- Leverages local economic and current industry data in addition to Servicer-provided borrower data.
Imminent Default Indicator Resources
- Imminent Default Indicator
- Servicers using Imminent Default Indicator are bound by all of the requirements of Exhibit 90, Imminent Default Indicator License Agreement, in the Single-Family Seller/Servicer Guide, as if they actually signed the agreement as a “Licensee.”
Freddie Mac Servicers must use Workout Prospector to evaluate all borrowers for a modification under HAMP. Servicers may rely on their own proprietary or third-party system, provided they adhere to the requirements outlined in Guide Section C65.6 (g). If a modification does not occur under HAMP, the Servicer must continue to evaluate the borrower for other foreclosure alternatives (with the exception of short-term and long-term forbearance plans) using Workout Prospector.
Servicers are able to access Workout Prospector from our Servicing Technology Tools Web page. You will need your secure Workout Prospector ID and password to access the tool. If you are a first-time user of Workout Prospector or need to update your account, complete the online Workout Prospector registration form.
Access Secured Resources
- AVM Values
- Workout Prospector Resources and Bulk Upload Technical Specifications
- Imminent Default Indicator Resources and Technical Specifications
Use your Servicing Technology Tools ID and password to log in. If you do not have one, you can request one using the Servicing Technology Tools Sign Up Form.
To ensure your Workout Prospector and Imminent Default Indicator user ID and password remain active, you must log in to either Workout Prospector or Imminent Default Indicator at least once every 90 days from the last date you logged in to maintain an active account. Learn more.