Making Home Affordable

The Making Home Affordable Program includes Fannie Mae Home Affordable Refinance options and the Home Affordable Modification Program.

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Home Affordable Refinance

HARP Extended: Will End December 31, 2018 Exclamation Point

A critical part of Fannie Mae's role in the Making Home Affordable® Program is the Home Affordable Refinance Program (HARP), available for refinances of existing Fannie Mae (and Freddie Mac) loans. The goal of the refinance effort, as announced by the President, is "to provide access to low-cost refinancing for responsible homeowners suffering from falling home prices." The expectation is that refinancing their mortgage will put responsible borrowers in a better position by reducing their monthly principal and interest payments or moving them from a more risky loan structure (such as interest-only or short-term ARM) to a more stable product. Our solutions provide mortgage refinances with no limits on LTV, and mortgage insurance flexibilities.

Fannie Mae provides two Refi Plus™ options to provide Fannie Mae to Fannie Mae refinance solutions to eligible borrowers:

    1. Refi Plus for manual underwriting

      Refi Plus simplifies the process of refinancing loans that are already in a lender's servicing portfolio. This product has no limits on maximum LTV and provides mortgage insurance flexibilities for LTVs over 80 percent

    2. DU Refi Plus™ for loans underwritten through Desktop Underwriter® (DU®)

      DU Refi Plus provides increased efficiencies for the origination and underwriting of Fannie Mae to Fannie Mae limited cash-out refinance transactions in DU with no maximum limits on LTV and provides mortgage insurance flexibilities for LTVs over 80 percent. Eligible loans identified in DU receive increased underwriting flexibilities, including expanded eligibility criteria and DU minimum documentation requirements.

HARP Resources

Home Affordable Modification

The Home Affordable Modification Program (HAMP) was available to help homeowners at risk of default, by providing the borrower with affordable and sustainable monthly payments.

Although the HAMP program is no longer available for new modifications, servicers should continue working with borrowers previously identified as eligible for HAMP and on any mortgage loans previously modified under HAMP.

HAMP and 2MP Resources

HAMP Forms

Form Title
Home Affordable Modification Agreement (Form 3157): PDF Single Family - Fannie Mae Uniform Instrument
Home Affordable Modification Agreement (Form 3157): Word Single Family - Fannie Mae Uniform Instrument
Home Affordable Modification Agreement -- Spanish Version (Form 3157): PDF Fannie Mae/Freddie Mac Uniform Instrument