HAMP Borrower Solicitation Requirements
Effective June 15, 2015
Eligible borrowers with HAMP-modified mortgages may be eligible for the HAMP Year Six Pay for Performance incentive. As part of this incentive, we’re providing updated requirements for Servicers to notify borrowers of:
- An upcoming HAMP Year Six Pay for Performance incentive, and
- An offer to reamortize the mortgage as a result of the HAMP Year Six Pay for Performance incentive.
Please read Guide Bulletin 2015-9 for additional details.
Servicers must send a Borrower Solicitation Package to every borrower who is 31 days or more delinquent between the 31st and 35th day of delinquency and again between the 61st and 65th day of delinquency if quality right party contact was not achieved or the borrower did not respond to the initial solicitation. Servicers must provide in its solicitation the specific date by which the borrower must respond with the required information and documentation ("The Borrower Response Package"), which must be 30 days from the date the solicitation was sent.
Refer to Guide Chapter 64 for requirements related to borrower solicitation and required communication upon quality right party contact.
Tools and Documentation
Borrower Solicitation Documents
The following form must be included in the Borrower Solicitation Package for HAMP-eligible borrowers:
- Form 710A, Government Monitoring Data Form
The borrower is not required to provide the data requested in this form.
Review additional documents that must be included in the Borrower Solicitation Package.
Trial Period Documents
- HAMP Trial Period Plan Notice, located in Guide Exhibit 93, Evaluation Model Clauses – Updated
- Form 1119, Counseling Referral Letter, that Servicers may use to inform the borrower they are required to attend credit counseling.
Permanent Modification Documents
If a borrower is eligible for a permanent HAMP modification, Servicers must send the following documents:
- Form 1118, Agreement Cover Letter – Updated
- Uniform Instrument Form 3157, Home Affordable Modification Agreement,
Also available in Spanish (Uniform Instrument Form 3157s).