When is a servicer’s SPA obligation to offer a borrower a HAMP modification considered satisfied?
A borrower who has a received a HAMP offer is ineligible for a subsequent HAMP offer, and the servicer’s SPA obligation to offer the borrower a HAMP modification is considered satisfied, in the following circumstances:
• the borrower received a HAMP modification and lost good standing, or
• the borrower received a HAMP offer and made the first payment under trial period plan, but did not (i) make all required payments by the end of the trial period, or (ii) provide all required documents by the end of the trial period.
A borrower may seek reconsideration for a HAMP modification and the servicer is obligated to consider the borrower’s request under the SPA, in the following circumstances:
• the borrower was found ineligible, either for a trial period plan or during the trial period plan, but circumstances such as income have changed sufficiently to impact the previous determination, or
• the borrower received a HAMP offer, but did not make the first trial period payment by the end of the month in which it was due.
