Recovery Assistance Program Resources |
RMIC’s Program Supporting the HOME AFFORDABLE REFINANCE PROGRAM (HARP) and the HOME AFFORDABLE MODIFICATION PROGRAM (HAMP)
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In March 2009, Fannie Mae, Freddie Mac, and the U.S. Treasury announced new refinance and modification programs to help families in distress restructure or refinance their home loans as prescribed in the Administration’s Homeowner Affordability and Stability Plan. RMIC fully supports these initiatives and has set up this area to consolidate program information and Lender resources designed to complement and reinforce these programs.
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HARP and HAMP: Eligibility Matrix and Comparison
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Recovery Assistance Program INFORMATion: HARP
Overview of RMIC’s program supporting Fannie Mae’s DU Refi PlusTM and Freddie Mac’s Relief RefinanceSM programs. Provides eligibility parameters, coverage requirements, premium rates, submission instructions and FAQ supplements.
Same Servicer Option
· Description
· FAQ Supplement
· Guidelines
New Servicer Option
· Description
· FAQ Supplement
· Guidelines
Recovery Assistance Program Submission Options & Forms
RMIC offers three ways to submit a loan for certificate modification. The first option is to submit RMIC's Modification Request Form, which is provided below. Lenders who are familiar with RMIC's Electronic Loan Submission (ELS) system can submit New Servicer loans using that method. Finally, Lenders may also send Same Servicer loans in batch to RMIC using the Microsoft Excel® spreadsheet provided below.
· HARP Modification Request Form
· ELS (preferred submission method for New Servicer loans)
· HARP Batch Submission Form (Now Available) |
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Recovery Assistance Program Information: HAMP
Overview of RMIC's program supporting Home Affordable Modification Programs. Provides guidance on delegation, non-GSE modifications, and reporting requirements.
· HAMP Overview
Delegation of Authority RMIC provides delegated authority for a number of Treasury and GSE programs to all Servicers for loans with primary insurance with RMIC. For additional information on RMIC's delegation of authority, including reporting requirements and forms, visit the following link: Treasury and GSE Programs |
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