In my case, my note holder, Freddie Mac, has definitely done so. This I learned from GMAC, my loan servicer. Multiple GMAC agents have told me that GMAC has once and probably twice approved a HAMP modification on my mortgage, sent it up to Freddie, and then learned of Freddie's denial.
GMAC even informed me in writing of Freddie's denial. It did so in vague language marked with an X in its form letter of denial:
"We service your loan on behalf of an investor [Freddie Mac] or group of investors that has not given us authority to modify your loan under the program [HAMP] requested." (Brackets mine)
I wonder: have other HAMP/MFA applicants have seen language like this? If so, this story could be major news:
Government Sponsored Lenders (GSLs Fannie and Freddie) are subverting programs created by government agencies (Treasury Department and the White House). And the GSLs are doing so furtively by using the commercial banks as shields and whipping boys to conceal their subversion of the President's programs for at-risk homeowners.
I look forward hearing from other MFA/HAMP applicants. See below for more.
Read More