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**We are not affiliated with any mortgage servicer, the investor/beneficiary of your mortgage note, the mortgage insurer (if applicable) or any government agency. We are a homeowner advocacy group with more than a decade of helping homeowners and professionals with mortgage assistance negotiations. The information found on this page is for educational and convenience purposes only. The information found on this page should be considered as opinion and not fact based on our experience with lenders over 10+ years. Consult your mortgage servicer directly or a professional before using any of the information found on this site. If you are seeking an intermediary to assist you in getting help with your mortgage you may contact us at 888-934-3444 or via email at [email protected] for further review for a no fee, no obligation, consultation. If required you may be referred to a local professional or legal counsel for additional assistance with your mortgage. Please read through our Disclaimer page for additional details. We do not represent in any way any financial institution named on this page. If you feel that any of this information has become outdated or is incorrect please contact us immediately.**

Specialized Loan Servicing (SLS) (HAFA) Program

Specialized Loan Servicing

Looking for specialized loan servicing help? If yes, then you are right place. We have outlined a great blog post under for specialized loan servicing and HAFA. All

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those services that have signed agreements with the U.S. Department of the Treasury to participate in the Home Affordable Modification Program (HAMP) must consider eligible borrowers who do not qualify for HAMP for other foreclosure prevention options including Home Affordable Foreclosure Alternatives (HAFA) which includes short sale and deed-in-lieu of foreclosure. However, each servicer has some preference in determining additional eligibility criteria and certain program rules. In order to assist borrowers and their representatives in understanding any unique components of a servicer’s HAFA Policy, Treasury, has developed certain points that should be followed by every homeowner.

(HAFA) Program with Specialized Loan Servicing

Eligibility Requirements: – Your first lien mortgage loan may be eligible for the Home Affordable

Foreclosure Alternatives (HAFA) program if with Specialized Loan Servicing:

  • Your mortgage is a loan originated on or before January 1, 2009
  • The property is your current principal residence or the property has been vacant or rented within the last 12 months and you have not purchased another home during this 12 month period
  • The property is not condemned.
  • The amount you owe on your first mortgage is equal to or less than:
    • 1 Unit: $729,750
    • 2 Units: $934,200
    • 3 Units: $1,129,250
    • 4 Units: $1,403,400
  • Your mortgage loan is 60 days or more past due or default is forthcoming if less than 60 days past due.
  • Your property is subject to a pending foreclosure sale.
  • Your mortgage loan is owned by a HAMP participating investor.
  • You are willing to list your property for sale.
  • You owe more than the value of your property.
  • Mortgage Insurance Approval must be obtained.
  • Subordinate lien holder approval must be obtained in order to complete the Short Sale

Subordinate Mortgage Liens: –

  • Specialized Loan Servicing may allow up to $12,000.00 of the gross sales proceeds to be paid to a subordinate mortgage lien in exchange for a release of the lien and full release of the borrower’s responsibility if the loan closed on 02/01/2015 or after.
    • Payments will be made at closing from the gross sales proceeds and must be reflected on the HUD-1 Settlement v.draft1 (12/16/14) Statement.
    • Written Commitment must be obtained from subordinate lien holders that all liability will be released.
    • The subordinate lien holders cannot require contributions of the borrower.

Eligibility for Relocation Incentive:

  • If a loan closes on or after 02/01/2015 then a borrower who occupies the property as a principal residence and is required to vacate as a condition of the HAFA short sale may be eligible to receive up to $10,000.00 in relocation assistance at closing.
  • If a loan closes before 02/01/2015 then a borrower who occupies the property as a principal residence and is required to vacate as a condition of the HAFA short sale or DIL may be eligible to receive up to $3,000.00 in relocation assistance at closing.
  • If the borrower seeks relocation assistance for themselves, an occupant or other non-borrower occupant, then the borrower must provide the service with evidence satisfactory to the servicer that the borrower, tenant or other non-borrower occupant was residing in the property as a principal residence as of the date the borrower requests a HAFA short sale.

Documentation requirements: –

Core Documentation:

  • HAFA Affidavit that is signed by the borrower and the purchaser
  • RMA or Form 710
  • Dodd Frank (if not included in RMA)
  • 4506T or signed tax returns
  • Proof of Income from all sources of income listed on the RMA
  • Listing Agreement
  • Purchase Contract
  • Subordinate Lien Holder Approval
  • MI Approval (if the loan has MI)

Relocation Assistance Documentation:

  • Same documents as core documentation
  • Written request for relocation assistance
  • Evidence of Occupancy

Non-Owner Occupant Documentation:

  • Same documents as core documentation and relocation assistance documentation.
  • Written request for relocation assistance.
  • Non-Owner Occupant Certification that is signed by anyone receiving the relocation incentive.


  • Establishing Property Value: – An interior valuation will be obtained to establish current property value if one is not on file that is less than 90 days old.
  • Disputed Valuations: – If you wish to dispute the property value obtained, then you have to provide the following documentation;
    • Required documentation includes, but is not limited to:
      • Comparable listings and sales,
      • Appraisal
      • Any applicable repair bids
      • Any other documents which would support your claim
    • A Resolution Letter regarding your dispute will be issued to you within 30 days of the date your dispute is received.

Payments during marketing period: – You will not be required to make partial payments during the marketing period.

How ACG Can Help You?

If you have questions about the HAFA process, please don’t hesitate to contact us at 888-945-5553 or send us contact via our contact form or email us at [email protected].

We Are Always Ready To Help You!