Fannie Mae Announcement 2010-3 amends key features of the Home Affordable Modification Program (HAMP). A significant program change is a requirement for full verification of borrower eligibility prior to offering a trial period plan. Effective for all HAMP trial period plans with effective dates on or after June 1, 2010, a servicer may only offer a borrower a trial period plan based on verified income documentation in accordance with the new requirements outlined herein. Fannie Mae is also providing guidance to assist servicers in making HAMP eligibility determinations for borrowers currently in active trial period plans, including those borrowers subject to the temporary review period of Supplemental Directive 09-10.
