Fannie Mae has extended by two months the time frame for servicers to submit their Alt Mod cases into the HomeSaver Solutions Network. Servicers now have until Nov. 30 to submit their cases into the Fannie Mae system.
Fannie Mae designed the Alt Mod program for borrowers who were eligible for and accepted into a trial plan under the Home Affordable Modification Program (HAMP) but who were subsequently not offered a permanent HAMP modification because of eligibility restrictions.
Fannie Mae says it is extending the time frame so that servicers will have sufficient time to complete the processing of modifications for borrowers who meet the eligibility requirements for the Alt Mod program as set forth in Lender Letter LL-2010-04.
SOURCE: Fannie Mae