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HAFA
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Fannie Mae
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Freddie Mac
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Program Dates
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April 5, 2010 – December 31, 2012
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August 1, 2010 – December 31, 2012
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August 1, 2010 – December 31, 2012
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Borrower Forms
Short Sale Approval
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SSA
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Form 184
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Form 1135
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Borrower Forms
Request for Approval of Short Sale
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RASS
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Form 184a
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Form 1136
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Borrower Forms Alternate
Alternate Request for Approval of Short Sale
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RASS
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Form 185
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*NOTE: Borrowers must have first been considered for a HAMP modification and then
for other Freddie Mac home retention options under Guide Chapter B65
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Borrower Relocation Assistance
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$3,000
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$3,000
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$3,000
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Servicer Incentive
Due after reporting period
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$1,500
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SS: $2,000
DIL: $1,500
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SS: $2,000
DIL: $1,500
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Investor Incentive Aggregate
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$6,000 cap
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$6,000 cap
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$6,000 cap
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Eligibility Requirements
1
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Principal residence (90 day rule—justifable employer relocation)
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Relocated or transferred more 100 miles and has not purchased another unit than
within 90 days.
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Principal (90 day rule— justifable employer relocation)
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2
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First lien non-GSE mortgage
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First lien mortgage owned by Fannie Mae
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First lien mortgage owned by Freddie Mac
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3
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Originated prior to January 1, 2009
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Originated prior to January 1, 2009
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Originated prior to January 1, 2009
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4
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Is delinquent or default is foreseeable
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Is delinquent or default is foreseeable
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Borrower must be 60 days delinquent
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5
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Current unpaid principle balance is equal or less than $729,750
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Current unpaid principle balance is equal or less than $729,750
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Current unpaid principle balance is equal or less than $729,750
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6
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Total monthly mortgage payment exceeds 31% of gross income
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Total monthly mortgage payment exceeds 31% of gross income
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Cash reserves must be less than the greater of either $5,000 or 3 times their current
monthly mortgage payment
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