Skip Navigation
 
 
 

Loss Mitigation: Home Retention Options
HAMP

HAMP — the Home Affordable Modification Program — is part of the US Treasury’s Home Affordability & Stability Plan, designed to help at-risk homeowners. A HAMP loan modification should be offered on every MGIC-insured loan that meets program criteria.

You have delegated authority to modify MGIC-insured loans that meet HAMP criteria set by the US Treasury for Fannie Mae, Freddie Mac and non-GSE loans.

Guidelines

See section 2.04 of MGIC’s Default Servicing Guide.

Reporting

Use MGIC/Link to report the following on a monthly basis:

  • HAMP trial status;
  • all other HAMP modification status updates; AND
  • all completed (official) HAMP modifications.

Submission

Submit a completed MICA HAMP Reporting Template via MGIC/Link Servicing.

Support

Contact MGIC Customer Service, customer_service@mgic.com or
1.800.424.6442.

View our MGIC/Link HAMP Modifications training tutorial.