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Freddie Mac Offers Door To Door Help On Your Modification


September 29th, 2009

 

In conjunction with the U.S government’s Home Affordable Modification program, Freddie Mac announced on Sept 29th that it has hired Titanium Solutions, Inc. to greet delinquent homeowners in their homes and aid them in providing missing information, documents including other tasks needed in order for borrowers to embark on their 3-month trial of mortgage payments. According to the guidelines of the program, homeowners are required to make 3 trial months of mortgage payments before the modification is finalized.

 

Titanium Solutions’ role is to help late paying borrowers whose loans are owned my Freddie Mac. This includes borrowers who have not responded to phone calls or letters sent from their servicers. Aside from helping troubled borrowers begin their trial-modifications, Titanium Solutions will also be responsible for helping borrowers who are the middle of their trial periods complete the documentation process that will transition them into permanent modifications.

 

According to Ingrid Beckles, Freddie Mac’s Senior V.P of Default Asset Management, by visiting borrowers in their homes, Titanium Solutions can provide personalized help for borrowers in troubleshooting any obstacles preventing them from beginning their trial modifications.

 

Titanium Solutions are committed to providing borrowers a hand-holding experience by walking them through the entire process of the Home Affordable Modifications. Their services encompasses a wide range of expertise and support from reviewing the program requirements, explanation of which documents are required, obtaining signatures and walking borrowers through the unfamiliar path of securing a modification.

 

In an effort to avert any fraudulent activity, Titanium Solutions representatives will not accept any form of mortgage payment or money from borrowers. In order for representatives to effectively help borrowers, they will be carrying a copy of the borrower’s servicer solicitation letter. These letters are specially formatted and contain detailed information about the mortgage loan.

 

Titanium Solutions is the newest strategy of Freddie Mac’s multiple efforts to aid homeowners in the U.S government’s Making Home Affordable program. According to Freddie Mac, the organization has installed program experts at servicers all over the country. These experts aim to work with borrowers on a one-on-one basis at local events organized by the Treasury Department. In addition, Freddie Mac has also hired Home Retention Services, a subsidiary of Stewart Lender Services, Inc. to smooth out bottle-neck servicer processing of mortgage loan applications for eligible delinquent borrowers whose mortgages are owned by Freddie Mac.

 

For more information about Freddie Mac’s efforts, please visit Freddie Mac

 

 

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