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Franklin Credit Management Corporation Home Affordable Foreclosure Alternative (HAFA) Matrix

Franklin Credit Management Corporation Home Affordable Foreclosure Alternative (HAFA) Matrix

All servicers that have signed agreements with the U.S. Department of the Treasury (Treasury) to participate in the Home Affordable Modification Program (HAMP) must consider eligible borrowers who do not qualify for HAMP for other foreclosure prevention options including Home Affordable Foreclosure Alternatives (HAFA) which includes short sale and deed-in-lieu.  However, each servicer has some discretion in determining additional eligibility criteria and certain program rules.  In order to assist borrowers and their representatives in understanding any unique components of a servicer’s HAFA Policy, Treasury, has developed this HAFA Matrix.  The summary information in this matrix is prepared solely by Franklin Credit Management Corporation and does not represent any determination by the Treasury as to the servicer's compliance with the Treasury's policies and guidance for HAFA.  Treasury does not endorse any language or policy described in this matrix.  Any questions regarding the information contained in this matrix should be directed solely to Franklin Credit Management Corporation

 

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ELIGIBILITY REQUIREMENTS

List HAFA basic eligibility and any servicer/investor specific requirements including any limitations based on:

·         Investor does not participate

DOCUMENTATION REQUIREMENTS

N/A

VALUATIONS

N/A

PAYMENTS DURING MARKETING PERIOD

N/A

DEED-IN-LIEU POLICY / SPECIAL PROGRAMS

N/A

AVERAGE TIMELINES

N/A

CONTACT INFORMATION

Provide best contact information including name, phone, email and fax as appropriate for various aspects of HAFA transactions, for example:

·         General HAFA questions

                       Name: Juyuan Zhang

                       Email: hamp@franklincredit.com

                       Phone:  1-866-269-5703

THIRD PARTY VENDORS

N/A