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July 2014 | Making Home Affordable
Making Home Affordable Working Together to Help Homeowners
2 July 2014 | Making Home Affordable
MHA Offers Solutions
MHA and related programs work together to help homeowners avoid foreclosure.
Historically Low
Mortgage Interest Rates
Breathing Room for
Unemployed
More Affordable Payments
Help When You Owe More Than
the Home is Worth
Transition from Home Ownership AVOIDING
FORECLOSURE
3 July 2014 | Making Home Affordable
MHA Extended through 2016 “…the Secretary announced an
extension of the MHA program for at
least one year…” “Families and neighborhoods across the country continue to recover from the financial crisis, and we must not lose our resolve to help them, even as the economy continues to expand,” said Secretary Lew.
4 July 2014 | Making Home Affordable
MHA Provides Relief to Struggling Homeowners
Over 2 million actions taken to help homeowners.
Note: First Lien Permanent
Modifications and HAFA
numbers include GSE Standard
Modifications and GSE HAFA II
Transactions, respectively
*Total does not include 3.1
million Home Affordable
Refinance Program (HARP)
refinances. Source: Making Home Affordable Program
Performance Report Through April 2014
MHA Foreclosure Avoidance Programs Homeowner Assistance
Actions
MHA First Lien Permanent Modifications Started* 1,596,848
Second Lien Modification Program (2MP) Started 133,705
Home Affordable Foreclosure Alternatives (HAFA) Transactions Completed
288,599
Unemployment Program (UP) Forbearance Plans Started
39,534
Total 2,058,686*
5 July 2014 | Making Home Affordable
Over 1.3 million have started HAMP permanent modifications.
HAMP Provides Relief to Struggling Homeowners
Source: Making Home Affordable Program
Performance Report Through April 2014
45,796 Active permanent modifications in
Riverside-San Bernardino-Ontario, CA MSA
*Source: HAMP Activity by Metropolitan
Statistical Area as of April 2014
15,513* Active permanent modifications in
Sacramento-Arden-Arcade-Roseville, CA MSA
6 July 2014 | Making Home Affordable
Important Progress
Programs are providing relief for millions as we continue to recover from an unprecedented housing crisis.
Source: Housing Scorecard. The Obama Administration’s Efforts To Stabilize
the Housing Market and Help American Homeowners, May 2014.
7 July 2014 | Making Home Affordable
Continued Fragility Overall
Foreclosures trend downward, but housing market is still fragile.
Source: Housing Scorecard. The Obama Administration’s Efforts To Stabilize
the Housing Market and Help American Homeowners, May 2014.
8 July 2014 | Making Home Affordable
While we see signs of recovery, many families and communities continue to struggle with foreclosure.
There’s Still Work to Do
Source: RealtyTrac
9 July 2014 | Making Home Affordable
95 events put over 77,711 homeowners face-to-face with housing counselors and servicers.
Event partnership with HOPE
Now, HUD, and
NeighborWorks America
ensure events of high quality.
Outreach Events for Homeowners
10 July 2014 | Making Home Affordable
We’re traveling to Riverside, CA for our 96th event.
Learn more at
MakingHomeAffordable.gov
Help for Homeowners Event
11 July 2014 | Making Home Affordable
We’re traveling to Sacramento, CA for our 97th event.
Learn more at
MakingHomeAffordable.gov
Help for Homeowners Event
12 July 2014 | Making Home Affordable
Partner with us on foreclosure prevention in Riverside and Sacramento, CA.
Get Involved!
What You Can Do… Point of Contact
Volunteer Barbara Floyd Jones BJones@nw.org 202-220-2303
Exhibit in our Resource Area
Brad Dwin brad@hopenow.com 202-589-1938
Promote the Events Carol Lambert Carol.Lambert@treasury.gov 202-927-9372
13 July 2014 | Making Home Affordable
Promote the Event
14 July 2014 | Making Home Affordable
HMPadmin.com
HMPadmin.com
• MHA Program Guidance
• Online Learning
• Resources
• Newsletters
15 July 2014 | Making Home Affordable
• HAMP Tier 1 modifications included interest rate reductions to as low as 2% for the first five years to provide deep and immediate savings.
• Most in HAMP Tier 1 modifications will experience a gradual interest rate increase of 1% per year until the rate adjusts to the market rate at the time of their modification.
After the first interest rate increase, the median monthly payment increase will be about $95.
After all increases, the monthly payment increase will amount to a median $200.
Homeowners should prepare for changes in their interest rates and payments.
HAMP Interest Rate Step-Up
Homeowners with Fannie Mae or Freddie Mac owned HAMP loans,
should contact Fannie Mae, Freddie Mac, or their servicers.
16 July 2014 | Making Home Affordable
HMPadmin.com | Learning Center
Upcoming Webinars for Trusted Advisors
Case Escalations for Trusted Advisors July 10, 2014 | 2:00 – 3:00 p.m. ET Understanding the Terms of a HAMP Modification: Interest Rate Step-Up, Impact, and Resources July 17, 2014 | 2:00 – 3:00 p.m. ET Second Lien Modification Program (2MP) for Trusted Advisors Tuesday, July 22, 2014 | 2:00 p.m. – 3:00 p.m. ET HAMP A to Z for Trusted Advisors Thursday, July 24, 2014 | 2:00 p.m. – 3:30 p.m. ET
17 July 2014 | Making Home Affordable
MHAStorefront.com
Order MHA brochures and posters. Have them shipped to you at no cost.
18 July 2014 | Making Home Affordable
Industry Resources
Resources are in place to help.
Mortgage-Help Resources
HAMP Solution Center
• (866) 939-4469 • escalations@HMPadmin.com
Fannie Mae • (800) 7Fannie • KnowYourOptions.com • Resource_center@fanniemae.com
Freddie Mac • (800) Freddie, select option 2 • FreddieMac.com
FHA Loans FHA National Servicing Center
• (877) 622-8525 • HUD.gov/offices/hsg/sfh/nsc/nschome.cfm
USDA RHS Loans Centralized Servicing Center
• (800) 414-1226
VA Loans • (877) 827-3702 • HomeLoans.va.gov
19 July 2014 | Making Home Affordable
MHA.gov
• Program options
• Participating mortgage companies
• Eligibility tools
• HOPE Hotline
• New landing pages in additional languages
MakingHomeAffordable.gov
20 July 2014 | Making Home Affordable
Hardest Hit Fund Supports 18 States Plus DC
HHF programs offer help for unemployed homeowners,
principal reduction, and transition assistance.
Visit MHA.gov for more
information.
HHF States Alabama Arizona
California Florida Georgia Illinois Indiana
Kentucky Michigan
Mississippi Nevada
New Jersey North Carolina
Ohio Oregon
Rhode Island South Carolina
Tennessee Washington, D.C.
21 July 2014 | Making Home Affordable
Discussion/Questions
U.S. Department of the Treasury
Homeownership Preservation Office
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