HAMP Cash Payment Summary Report Provides ACH Deposit Information
Shared by: SonnyWoodcock
HAMP UPDATE September 23, 2009 HAMP Cash Payment Summary Report Provides ACH Deposit Information As Administrator for the Home Affordable Modification Program (HAMP), Fannie Mae will be facilitating payments to registered HAMP servicers for qualifying official loan modifications made under the HAMP, as outlined in Supplemental Directive 09-01: Introduction of the Home Affordable Modification Program. HAMP Payment Information The day before payments are deposited, a Cash Payment Summary Report will be distributed by Fannie Mae to those servicers receiving funds for the current reporting cycle via the servicer's WebTrader mailbox.1 This report provides loan-level data for all payments and indicates the associated payor: U.S. Treasury Department, Fannie Mae, or Freddie Mac. Payments are to be made as cash deposits to your bank account using the Automated Clearing House (ACH) Network.2 Separate deposits will be made for each payor: U.S. Treasury Department, Fannie Mae, or Freddie Mac. 1 After the HAMP Data Collector is retired in late November 2009, the Cash Payment Summary Report will be available through the HAMP Reporting Tool. (See Use of New HAMP Reporting Tool Required by End of November; Register Today!) 2 Contact the HAMP Support Center at firstname.lastname@example.org or 1-866-939-4469 (select option 1, then option 1, and finally option 2) to confirm that you have provided us with a HAMP Registration Form that includes ACH instructions and default bank account information. For more information about incentive payments, review the HAMP Compensation -- First Liens matrix on HMPadmin.com. Questions? Please contact the HAMP Support Center at email@example.com or 1-866-939-4469. This message was sent via email to servicer representatives registered for HMPadmin.com on effective date at top of the message.