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Guide to FHA’s HOPE for Homeowners Program

The debut of FHA’s new HOPE for Homeowners (H4H) program offers another loss mitigation tool for lenders and servicers. One large lender estimates that they may do over $2.5 billion in H4H loans. Get everything you need to know about this complex new program—an effective bailout for qualified borrowers.

All the details are in a new report from Inside Mortgage Finance Publications called Guide to FHA’s HOPE for Homeowners Program. It contains the latest changes that likely will make the program very popular.

SECTION 1: Origination
This section provides details on likely origination channels, cost versus benefits, borrower considerations, H4H features, income verification, title search, Ginnie Mae’s role and more.

SECTION 2: Servicing
This section explains equity and appreciation sharing, servicing SEMs and SAMs, subordinate liens, refinance restrictions, first payment default, loss mitigation, tier ranking and more.

SECTION 3: Lender Perspective
Get the lender perspective regarding alternatives to H4H, possible impediments, Bank of America’s tactics, why communication is critical and more.

SECTION 4: Securities Market Perspective
Learn about the difference between how servicers use H4H on portfolio-held loans versus how they might use the program for securitized loans and more.

SECTION 5: H4H Expansion and Frequently Asked Questions
Significant changes were made to the H4H program on November 19 such as increasing the LTV ratio, adjusting debt-to-income ratios, immediate payments for subordinate lien holders and more. Plus get answers to frequently asked questions including: what loans are eligible for refinance...how does the H4H differ from FHASecure...and more.

Also included are complete copies of all the H4H mortgagee letters. NEW!