VIDEO: HAFA Programs – Fannie, Freddie and Treasury Dept.

20. Jul, 2010 2 Comments

Click here to get the chart from the video.

This video covers five differences between the Fannie Mae, Freddie Mac and Treasury HAFA Programs:

  • Agent commission differences in the programs.
  • Borrower considerations for eligibility.
  • Factors that can disqualify borrowers from the programs.
  • Minimum Acceptable Net Proceeds (MANP)
  • Servicer requirements after the SSA is signed

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2 Responses to “VIDEO: HAFA Programs – Fannie, Freddie and Treasury Dept.”

  1. Dennis Erickson Reply 21. Jul, 2010 at 10:31 pm

    Lance, wonderful information, but how valuable is it when the lenders are telling us they are not participating in HAFA? I’m still being told I’ll have to wait “months” for a reply from a negotiator (Sun Trust quote) and that the lender is not participating in the HAFA program? Are any lenders compelled to adapt the HAFA guidelines?

  2. Lance Churchill Reply 09. Aug, 2010 at 11:54 pm

    Dennis, by far the vast majority of homeowner loans are now covered by the HAFA program, but participation is voluntary and there are still a few hold outs. Unfortunately, Sun Trust is one of the few lenders that has not agreed to participate in HAFA.

    The lenders that are compelled to participate in HAFA are Fannie Mae, Freddie Mac and all lenders and servicers who agreed to participate in the HAMP loan modification program. This is a large list, so I will be publishing a one page quick reference chart later this week listing all the HAMP/HAFA participating lenders and servicers so you will know who’s in and who’s out before you start your short sale.