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Home Loan Servicing Update - January 2008

888-995-HOPE OFFERS FREE FORECLOSURE ASSISTANCE

Be part of the solution to help Homeowners at risk of foreclosure. Whatever the reason, hundreds of people are facing foreclosure on their Homes.  If you have a customer who needs help beyond the options you have available as a lender, please don't hesitate to refer them to 888-995-HOPE (4673).

This national, toll-free hotline provides free counseling services offered by the Homeownership Preservation Foundation.  Available 24 hours a day, 7 days a week, 888-995-HOPE provides counselors that are experts in helping Homeowners avoid foreclosure.  WHEDA® proudly supports NeighborWorks and other nonprofit counseling agencies who have partnered with this hotline.  We heartily endorse the HOPE Hotline and see it as an important resource for those who are at risk of foreclosure.

When it comes to foreclosure there are no easy answers, but this is one more option we can give people.  Take advantage of this hotline to help your customers develop an action plan that fits their unique situation.

MORTGAGE PAYMENT PROTECTION PLAN

This value added benefit has been offered on WHEDA loans rate locked January 1, 2004 and after.  It is provided by Mortgage Guardian and can provide mortgage payment protection for the first several years of the loan. 

Mortgage payment protection offers Homeowners the peace of mind knowing they may be protected by making their mortgage payment should they become involuntarily unemployed.

This is an excellent collection tool. Please make sure you are reminding borrowers that they may qualify for this benefit.  Any questions should be directed to Benefit Administrator at 800-711-4281.

If you have any questions on who qualifies for this insurance or wish to get the specifics or details on the protection please contact Mortgage Guardian at 800-711-4281.

TAX SEASON

Just a reminder that all taxes both current (2007) and outstanding/delinquent must be paid in full on all WHEDA accounts.  This includes accounts that are in a foreclosure or bankruptcy status.  If the borrower’s escrow balance is not sufficient to cover the amount, you as the servicer, are required to advance your own funds.

ON-DEMAND TRAINING –
CLOSING PACKAGE CHECKLIST FOR WHEDA SERVICED LOANS

Take advantage of our free on demand training sessions to learn more about the closing package checklist for WHEDA Serviced Loans. The Closing Package Checklist for WHEDA Serviced Loans is less than ten minutes, and can be viewed at your convenience right from your own desk at any time.

LOSS MITIGATION TRAINING WITH GENWORTH MORTGAGE INSURANCE CORPORATION

Please mark your calendars for February 22.  Genworth Mortgage Insurance is offering Loss Mitigation training.  WHEDA would like all of you to join us and take part via teleconference on the 22nd.  Please watch for more details to follow in an upcoming e-mail.

DELINQUENCY RATES 2ND, 3RD & 4TH QUARTERS 2007

 

 

Portfolio

 

30 Day

 

60 Day

 

90 Day

 

FCL

 

BK

APR

W

0.95%

 

0.77%

 

0.14%

 

0.04%

 

0.28%

 

0.45%

 

L

1.62%

 

1.47%

 

0.12%

 

0.03%

 

0.40%

 

0.42%

 

T

1.43%

 

1.26%

 

0.13%

 

0.04%

 

0.36%

 

0.43%

 

 

 

 

 

 

 

 

 

 

 

 

 

MAY

W

1.27%

 

1.10%

 

0.13%

 

0.04%

 

0.25%

 

0.40%

 

L

1.93%

 

0.68%

 

0.20%

 

0.05%

 

0.34%

 

0.43%

 

T

1.74%

 

1.51%

 

0.18%

 

0.05%

 

0.32%

 

0.42%

 

 

 

 

 

 

 

 

 

 

 

 

 

JUN

W

1.52%

 

1.24%

 

0.23%

 

0.05%

 

0.30%

 

0.36%

 

L

1.90%

 

1.63%

 

0.22%

 

0.05%

 

0.29%

 

0.49%

 

T

1.78%

 

1.51%

 

0.22%

 

0.05%

 

0.29%

 

0.45%

 

 

 

 

 

 

 

 

 

 

 

 

 

JUL

W

1.12%

 

0.88%

 

0.14%

 

0.10%

 

0.31%

 

0.35%

 

L

2.10%

 

1.84%

 

0.20%

 

0.06%

 

0.32%

 

0.45%

 

T

1.80%

 

1.55%

 

0.18%

 

0.07%

 

0.32%

 

0.42%

 

 

 

 

 

 

 

 

 

 

 

 

 

AUG

W

1.59%

 

1.30%

 

0.23%

 

0.06%

 

0.39%

 

0.38%

 

L

2.26%

 

1.86%

 

0.33%

 

0.07%

 

0.32%

 

0.44%

 

T

2.06%

 

1.69%

 

0.30%

 

0.07%

 

0.34%

 

0.42%

 

 

 

 

 

 

 

 

 

 

 

 

 

SEP

W

1.99%

 

1.60%

 

0.26%

 

0.13%

 

0.35%

 

0.37%

 

L

2.21%

 

1.84%

 

0.30%

 

0.07%

 

0.37%

 

0.45%

 

T

2.13%

 

1.76%

 

0.28%

 

0.09%

 

0.36%

 

0.42%

 

 

 

 

 

 

 

 

 

 

 

 

 

OCT

W

2.51%

 

1.76%

 

0.62%

 

0.13%

 

0.35%

 

0.45%

 

L

2.42%

 

1.99%

 

0.36%

 

0.07%

 

0.37%

 

0.43%

 

T

2.47%

 

1.87%

 

0.50%

 

0.10%

 

0.36%

 

0.44%

 

 

 

 

 

 

 

 

 

 

 

 

 

NOV

W

2.58%

 

1.84%

 

0.51%

 

0.23%

 

0.37%

 

0.44%

 

L

2.05%

 

1.66%

 

0.26%

 

0.13%

 

0.43%

 

0.43%

 

T

2.33%

 

1.75%

 

0.39%

 

0.18%

 

0.40%

 

0.44%

 

 

 

 

 

 

 

 

 

 

 

 

 

DEC

W

2.96%

 

2.14%

 

0.46%

 

0.36%

 

0.40%

 

0.46%

 

L

2.29%

 

1.86%

 

0.27%

 

0.15%

 

0.42%

 

0.42%

 

T

2.64%

 

2.01%

 

0.37%

 

0.26%

 

0.41%

 

0.44%

 

 

 

 

 

 

 

 

 

 

 

 

 

Avg

W

1.62%

 

1.26%

 

0.26%

 

0.10%

 

0.32%

 

0.43%

 

L

2.12%

 

1.72%

 

0.25%

 

0.07%

 

0.38%

 

0.44%

 

T

2.00%

 

1.64%

 

0.26%

 

0.09%

 

0.36%

 

0.44%

(W = WHEDA L = LENDER T = TOTAL)

 

 
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