What should a counselor do if a servicer says an investor is not participating in the Making Home Affordable Program?
To confirm the accuracy of the statement, a counselor should first determine if the loan is owned or guaranteed by one of the GSEs. (See question #6 above for instruction on how to determine this.) If it is, the servicer is required to consider all borrowers who meet the minimum eligibility criteria for a refinance under HARP or a modification under HAMP based on the borrower’s circumstances. With respect to modifications under HAMP, if the loan is not owned or guaranteed by one of the GSEs, the counselor should consult the current list of participating HAMP servicers posted at www.MakingHomeAffordable.gov.
