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MGIC and Home Affordable Modification Program (HAMP)

HAMP is part of the U.S. Treasury's Home Affordability & Stability Plan and is designed to help at-risk homeowners by providing a framework for consistent handling of modifications.

Delegation for GSE and non-GSE-insured loans

MGIC delegates Servicers' modification authorization for insured loans that meet the Waterfall criteria set by the U.S. Treasury for Fannie Mae, Freddie Mac and non-GSE servicers.

"Second Look" for non-GSE-insured loans

Non-GSE loans with MGIC mortgage insurance that pass the Waterfall process, but fail the NPV test, must either be modified or submitted to MGIC for the MICA/US Treasury "Second Look" process. Servicers using the US Treasury NPV model should submit these loans using the template below.

“Second Look” Template

More Information

For more information on the U.S. Treasury’s program or GSEs’ requirements, please visit:

U.S. Treasury's HAMP

Fannie Mae's HAMP

Freddie Mac's HAMP