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An Analysis of Life After HAMP

March 8, 2017

It is clear the MBA OneMod will provide assistance to a large number of homeowners in distress. It is also clear that homeowners in the very low to low income range and homeowners with equity are the least likely to receive assistance under this proposal.  To address challenges in individual circumstances and to find affordable solutions for the cases where the streamlined model does not perform well, we strongly support expanded use of the exception program, coupled with housing counseling by HUD approved housing counseling agencies.  We believe that building on the current FHFA exceptions path that would allow for well-defined alternative options under certain circumstances, and guided by housing counseling, would equip servicers and homeowners with the appropriate tools to address these challenges. We are interested in continuing to work closely with FHFA to develop a robust exception process and look forward to continued collaboration.

CLICK HERE to read the analysis from National Council of La Raza, National Housing Resource Center and Empire Justice Center.


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