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ML 09-23: Making Home Affordable Program - FHA’s Home Affordable Modification Loss Mitigation Option

Mortgagee Letter 2009-23 announces a new FHA Loss Mitigation option, the FHA-Home Affordable Modification Program (FHA-HAMP).  FHA-HAMP will provide homeowners in default a greater opportunity to reduce their mortgage payments to a sustainable level.  The mortgagee letter also provides an attachment that supplements the program guidelines for FHA-HAMP, including a requirement that the servicer obtain an executed Hardship Affidavit from every mortgagor and co-mortgagor seeking an FHA-HAMP.  This Mortgagee Letter is effective August 15, 2009.

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