SAMPLE REPORT

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THERE’S ONLY ONE REST REPORT…

NEVER AVAILABLE BEFORE: The REST Report tells you with certainty whether you qualify for a loan modification under the government’s Home Affordable Modification Program (“HAMP”). Contact Freddie Mac at: Borrower_Outreach@freddiemac.com.
The REST Report is generated using a version of the same software that major banks and servicers use to determine HAMP eligibility, so you can be assured that it is up-to-date with the current program guidelines at all times.
The U.S. Treasury Department’s most recent HAMP NPV Model (V 3.1) is currently only available to participating HAMP servicers. For this reason the model used by the REST Report, has certain variations. Although the REST Report is a proprietary model, based on the input provided by the borrower, the loan modification terms proposed in the REST Report, will fall within the allowable tolerances of the HAMP eligibility guidelines.
If you are qualified for a HAMP modification, the REST Report, which is VALID FOR 90 DAYS, tells you what your new mortgage payment, rate and terms will be, assuming your bank follows the rules, of course. If your bank appears to not be following the HAMP guidelines, you can report them to Freddie Mac’s HAMP Compliance Committee.
If you are not qualified for a HAMP modification, the REST Report tells you why you are not qualified, and proposes some possible terms that are helpful when applying for an in-house modification. In-house loan modification programs are offered by many, but not all HAMP participating lenders and servicers.
If you are not qualified for HAMP, you can avoid entering in to a long and costly trial period, and apply directly for an in-house modification, assuming your lender or servicer offers such a program, or make a different decision.
If you are not qualified for HAMP, you can avoid paying a lawyer or other third party to try to get you a HAMP modification, which they will not be able to obtain. You may, however choose to hire a lawyer or other third party to help you obtain an in-house loan modification, if offered by your lender or servicer.
The REST Report conducts an NPV analysis that tells you the Net Present Value of your loan as modified, and its value if your home is foreclosed and sold, or sold after a deed in lieu of foreclosure.
The REST Report provides you and/or your attorney a powerful negotiating tool when working with your lender or servicer, or when in a foreclosure mediation.
The REST Report also determines whether you qualify for a Home Affordable Foreclosure Alternative [HAFA] Short Sale.

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There's Only One R.E.S.T. Report

The R.E.S.T. Report is the only source for finding out for sure whether you qualify for a HAMP loan modification or not… before you apply. Using your information, the system generates a report you can rely on to tell you if you pass HAMP’s NPV test, as required by the U.S. Treasury.

The REST platform is a version of the same software used by major banks and servicers to determine HAMP eligibility, so its accurate and up-to-date at all times. Homeowners use the report by sending it to their bank, along with supporting documentation required when applying for a loan modification per the HAMP guidelines. The report is valid for 90 days from the date its generated, which should be enough time to receive approval from your lender or servicer.

What is a Hardship?

Lenders and servicers require a verifiable hardship before you will be eligible for a loan modification. Acceptable hardships include: job loss, reduction in pay, medical issues, death of family member, divorce, or interest rate reset. The important point is that you must be able to demonstrate to the lender how your hardship has impacted your ability to make your loan payments.

Signed Tax Returns

Lenders also require signed tax returns for the last two years, both personal and business, if applicable. Make sure the copies of returns you submit are signed and include all schedules. You will also have to sign a 4506-T form so that your lender may request copies of your tax returns from the IRS. You can find the form here: FORM 4506-T

Why Guess, When You Can Know in About an Hour

It only takes about an hour to know whether you qualify for a loan modification under the HAMP program, so why would anyone want to guess. Only the R.E.S.T. Report has the latest analytics and only the R.E.S.T. Report can tell you for sure.

“I wouldn’t even consider starting the process of getting my loan modified until I had my REST Report, and I can’t imagine anyone wanting to pursue a loan modification without it.”

Martin Andelman
Mandelman Matters

“After spending the last 10 MONTHS learning about the REST platform, I could not be more serious when I tell you that I strongly endorse homeowners ordering the REST Report… it is a “game changer,” as they say… the real deal.”