Supplemental Directive 10-01

Updated HAMP Documentation

On January 28, Treasury issued Supplemental Directive 10-01, which provides updated guidance for servicers participating in HAMP and revises documentation requirements in an effort to expedite the conversions of trial modifications to permanent modifications. Under the new procedures, a set of standard documents (including proof of income) must be obtained from the borrower upfront before the borrower can be evaluated for and receive a trial modification. This process will be required for all new HAMP modifications with effective dates on or after June 1, although servicers may elect to implement it sooner.  Treasury Release.  Supplemental Directive 10-01.