Home Affordable Modification Guidelines Knowing the HAMP GUIDELINES Part 2

Home Affordable Modification Guidelines Knowing the HAMP GUIDELINES Part 2

This article will cover some basic information about the GMD section of the Request for modification affidavit form.

Government Monitoring Data Section of the RMA (Request for Modification Affidavit)

Collection of GMD

If a borrower completes the RMA or Hardship Affidavit form 1021 by mail or internet borrower's can read the disclosure and choose to provide the information asked or not.

If the borrower is in a face to face interview or even over the phone, the servicer must read to the borrower the disclosure found beneath the Information for Government Monitoring Purposes section found on the RMA or Hardship Affidavit. After reading the disclosure to the borrower the servicer should ask if they wish to provide this information. The servicer also must read the race, ethnicity and sex categories and options from the form itself and check off the correct boxes.

In addition if the GMD information was provided in writing on a previous RMA the filled in application will supersede the verbal regardless of the date on the original RMA.

Borrower Declines to Provide GMD

If you choose to not provide the GMD information the servicer may not refuse to accept the RMA (request for modification affidavit). You do not need to provide this information and if so you will need to check the box stating you wish not to furnish this information. If you refuse to check any of the boxes the servicer has the right to make a note in your loan modification file.

GMD from Observation or Origination

If a borrower declines to provide GMD, the servicer should attempt to provide the information based on visual observation, information learned from the borrower or surname. The servicer must note on the form that the information is based on servicer observations. Servicing staff should be provided with training and job aids (e.g., desk references, scripts and, where feasible, system prompts) to supply this information based on visual observation or surname.

Alternately, if the servicer has reasonable access to GMD supplied by the borrower at origination and the borrower(s) remain the same, the servicer is required to provide that information.

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