Mod Policy Update
Posted on November 23, 2009
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In Announcement 09-31, Fannie Mae reviewed updates to the Home Affordable Mortgage Program. Among the updates were new standard HAMP documents that must be implemented by March 1, 2010. The Office of the Comptroller of the Currency, Department of the Treasury; Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation and Office of Thrift Supervision adopted a final rule that allows banks, savings associations and bank-holding companies to risk weight — for purposes of the agencies capital guidelines — mortgages modified under the HAMP using the same risk weight assigned to the loan prior to the modification.
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