Loss Mitigation: US Treasury/GSE Programs
Freddie Mac Programs

Freddie Mac HAMP Backup Modification and Cap-to-Reinstate Modification Programs

Servicers are required to offer the Freddie Mac HAMP Backup Modification and Cap-to-Reinstate programs to all borrowers who have made three timely payments under an active, stated-income HAMP trial modification that began on or before April 1, 2010.

Freddie Mac HAMP Backup Modification

The Freddie Mac HAMP Backup Modification can be offered to borrowers participating in a HAMP trial based on stated income criteria who have subsequently been determined as ineligible for a HAMP modification due to underwriting or documentation requirements.

Freddie Mac Cap-to-Reinstate Modification

If borrowers qualify for a HAMP Backup Modification, but their post-modification LTV is less than 80% and housing DTI is less than 20%, a Cap-to-Reinstate Modification must be offered in place of the Backup Modification.

Reporting Requirements

Use MGIC/Link to report this specific program to MGIC on a monthly basis using our Loan Modification spreadsheet.

• Please select the appropriate program identifier.

Guidelines

Servicers have delegated authority from MGIC to complete modifications on loans that meet Freddie Mac's terms for the Backup or Cap-to-Reinstate programs.

Support

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