HAFA RASS FORM PDF

Home Affordable Foreclosure Alternatives (HAFA) initiative offers eligible borrowers Form , HAFA Request for Approval of Short Sale (RASS). ▫ Must be. o Alternative Request for Approval of Short Sale – Alternative RASS o Deed-in- Lieu Agreement – DIL o Sample Servicer’s HAFA Matrix o Form Uniform. Have you completed the HAFA Clause Checklist by including necessary Are you prepared to send a Request to Approve a Short Sale (RASS) form within 3.

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May junior lien holders seek additional contributions from the real estate agent or the homeowner as a condition for releasing the lien and the homeowner from personal liability? Pre Loan Principal Balance can not bethis is based off of what they currently owe — including back due payments, fees, attorney fees and costs, etc.

HAFA Matrix

Can use homeowner financial and hardship information already collected in fkrm with consideration of a loan modification under HAMP. Same as Treasury, except: If hafq or state law does not include a deadline, the servicer must fform its first mortgage lien within 30 business days.

Include the address information so PennyMac can confirm the sale data through online resources such as Trulia, Zillow and Real Quest. Servicers must not consider a homeowner who requests the HAFA program, or solicit a homeowner who is unable to retain their home with the help of a HAMP loan modification, without prior written consent by Fannie if:. The homeowner and the prospective real estate broker may negotiate with the servicer on the terms of the SSA.

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You must be logged in to post a comment. Cancellation clause—homeowner may cancel without notice and without paying commission if property is conveyed to mortgage insurer or mortgage holder.

Toll Free Escalation Contact: A real estate property valuation, such as BPO or appraisal, conducted within the past 6 months. HAFA uafa not guaranteed as not all lenders will be participating. My presentations Profile Feedback Log out.

Lender Specific Forms:

We will order one interior broker price opinion BPO and an appraisal desk review for the reconciled property value. They will have 10 day window.

Servicers must develop written procedures that are consistent with the GSEs policies. Order a field review of the borrower supplied appraisal from an approved PennyMac vendor, if the borrower provided an interior appraisal. If you need more information contact to be connected to an Short Sale Specialized Agent local to you. Order an interior appraisal from an approved PennyMac vendor, if the borrower provided any other supporting documentation other than a full interior appraisal.

Foreclosure could be initiated and reasonably expected to result in a foreclosure sale being held within 60 days.

HAFA Matrix – PennyMac

No other agreements or offers not disclosed to servicer A servicer must use its written policy that complies with investor raxs to determine if a homeowner will rass considered for the HAFA program. Treasury Fannie Freddie Treasury and GSEs The servicer may require the closing to take place within a reasonable period after it approves the RASS, but not sooner than 45 days from the date of the sales contract unless the homeowner agrees.

Evidence of 3 proximate and comparable closed sales not already considered by the PennyMac ordered valuation product.

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The December 28,update directs servicers to include a statement, within the SSA or ARASS forms, that any associated vendor fees will not be charged to the homeowner or deducted from the real estate commission. Fannie Mae, no time frame 53 Attach all required rss Remember required contract language: If the servicer decides to approve hfa deal: Many times these programs that we deal with for our clients change for the better but there are also certain First form that the servicer prepared.

Lenders may not require contributions from either the real estate agent or homeowner as a condition for releasing its lien and releasing the homeowner from personal liability. The single point of contact will be responsible for valuation appeals, transaction status and escalation of complaints and concerns. Any questions regarding the information contained in this matrix should be directed eass to PennyMac.

What is a Hardship Affidavit? It will also include the new additional steps of: We think you have liked this presentation.

HAFA Video: In action but what does it mean to your and your homeowners. – Mortgage Lender Report

Same as Treasury, except closing must be no later than 60 days after the contract execution or approval, whichever occurs later. Anyone say Lawyer time? Implementation Guidelines stated the period starts