Stewart Offers Supplemental HAMP Solutions

Stewart Lender Services is offering a new tool designed to assist lenders and servicers to comply with the Supplemental Directive 09-09, 10-01 and other changes under the Home Affordable Modification Program, which were recently issued by the Treasury Department. According to executives of the provider of origination, loss mitigation, and real estate owned management solutions for lenders and servicers, the new tool enables users to outsource processing in compliance with the new Treasury requirements. The SLS borrower outreach team collects financial packages and conducts the underwriting for borrowers who qualify for HAFA foreclosure alternatives, and performs upfront title reviews to determine whether a short sale or deed in lieu is the best option. Also, the system assists lenders following Resolution of Active Trial Modifications 10-01, during the conversion from a stated income to a verified income model and the Imminent Default rule changes and the measurement of debt coverage ratios for borrowers less than 60 days delinquent.