‘Flex Mod’ to Replace HAMP at Fannie and Freddie

National Mortgage News, Dec. 14, 2016–Passy, Jacob

Fannie Mae and Freddie Mac will replace the expiring Home Affordable Mortgage Program with a new loss mitigation option called the Flex Modification. The Mortgage Bankers Association had proposed a successor to HAMP called “One Mod” in September based on the work of a task force with representatives from 20 member companies.