Making Home Affordable Program

On February 18, 2009, President Obama announced the Homeowner Affordability and Stability Plan to offer assistance to homeowners who are making a good faith effort to keep up on their mortgage payments. As part of the plan, the Treasury Department introduced the Making Home Affordable program. This program encourages institutions to refinance mortgages for distressed borrowers and offers financial incentives for modifying loans based on a borrower’s ability to repay. Learn more.

The Making Home Affordable program is comprised of four key components:

• Home Affordable Refinance Program—The program provides access to low-cost refinancing for responsible homeowners suffering from falling home values enabling them to move into a more affordable mortgage.



• Home Affordable Modification Program—This program provides consistent guidelines for loan modifications held by Freddie Mac or Fannie Mae and other financial institutions receiving assistance under the Financial Stability Plan.



• Strengthening FHA Programs and Providing Support for Local Communities—An improved Federal Housing Administration (FHA) HOPE for Homeowners (H4H) program provides plans to ease restrictions to encourage servicers to utilize the program.



• Supporting Low Mortgage Rates by Strengthening Confidence in Fannie Mae and Freddie Mac—The program increased the government funding commitment to Fannie Mae and Freddie Mac to help promote stability and liquidity in the mortgage market.

Through our enhanced suite of mortgage compliance documentation solutions, you can start offering loans through the Making Home Affordable Program very quickly. These include:

• Document Services Platform—A robust mortgage document preparation and secure delivery platform that can interface with most loan origination systems.



• Electronic and Print Forms—Featuring VMP® Mortgage Solutions compliance content that lenders have relied upon for decades to meet regulatory requirements in all 51 U.S. jurisdictions as well as investor guidelines.



• Expere® Integrated Enterprise (Expere IE)—A comprehensive, enterprise-class solution that allows a financial institution to author, select, and assemble compliance documentation across all of its product lines and business units.



• Secure Document Exchange (SDX)—A secure electronic communications tool that allows lenders to deliver documents to borrowers for e-sign or e-consent, with backup paper fulfillment.