Freddie Mac has hired Titanium Solutions Inc. to meet with delinquent borrowers at their homes and help them supply missing information and documents, and complete other actions needed to begin their three-month trial payment periods under the Home Affordable Modification Program (HAMP).
Titanium Solutions will target delinquent borrowers with Freddie Mac-owned mortgages who have not returned letters or phone calls sent by their servicers, or who need to provide additional information or documents to launch their three-month trial modifications. Titanium will also help those borrowers who have started their trial periods complete the documentation process to enable them to be converted into final modifications.
"We believe this can give borrowers seeking Home Affordable Modifications the same type of personalized guidance they may have had when they were buying their home or applying for their mortgage," says Ingrid Beckles, senior vice president of default asset management at Freddie Mac.
To minimize potential fraud by imposters, Titanium Solutions representatives will not accept mortgage payments or any other money from borrowers. Representatives will also carry a copy of their servicers' solicitation letter the borrower initially received. These letters are specially formatted and include unique information about the mortgage loan.
SOURCE: Freddie Mac