Home Affordable Modification Program. With respect to any Mortgage Loans that have been modified or that are or will be in a modification trial period as part of the U.S. Department of the Treasury’s Home Affordable Modification Program (“HAMP”) (such Mortgage Loans, the “HAMP Loans”), Seller represents and warrants that it will continue to service such HAMP Loan in accordance with the HAMP terms and will ensure the timely compliance and filing of any appropriate HAMP documentation with the applicable regulator.
Home Affordable Modification Program. Seller shall continue to service any HAMP Loan in accordance with the terms and requirements of HAMP and will ensure the timely compliance and filing of any appropriate HAMP documentation with the applicable regulator.
Home Affordable Modification Program. The Company and its Affiliates shall participate in the Investor’s Home Affordable Mortgage Program (“HAMP”) of the Making Home Affordable program. The Company shall (a) if it services residential mortgage loans enter into (i) a Commitment to Purchase Financial Instrument and Servicer Participation Agreement and (ii) a Financial Instrument (together, a “SPA”), with the Federal National Mortgage Association, as financial agent of the Investor, with respect to HAMP and (b) cause any of its Affiliates that services residential mortgage loans (or, for any residential mortgage loans that are subserviced by a non-affiliate servicer on behalf of the Company or any of its affiliates, cause the related subservicer) to enter into a SPA with Xxxxxx Xxx, in each case within fifteen days after the date of this Purchase Agreement. For purposes of this Section, participation in HAMP shall include participation in HAMP’s second lien program and each additional program promulgated under the HAMP guidelines.
Home Affordable Modification Program. On April 6, 2009, the United States Department of the Treasury released the first HAMP guidelines to promote sustainable loan modifications for homeowners at risk of losing their homes due to foreclosure. HAMP programs, which include the Home Affordable Foreclosure Alternatives (HAFA) program, provide detailed frameworks for servicers to modify mortgages on residential properties and offer financial incentives to lenders and servicers that participate in HAMP. HAMP also provides financial incentives for homeowners whose mortgages are modified pursuant to HAMP guidelines to remain current on their mortgages after modification. The Servicer shall undertake a review of its mortgage loan portfolio to identify HAMP Qualifying Loans and shall modify HAMP Qualifying Loans under the applicable HAMP Guidelines. Further details about HAMP, including program terms and borrower eligibility criteria, are available at xxxxx://xxx.xxxxxxxx.xxx/portal/index.jsp
