The Federal Housing Finance Agency (FHFA) highlighted a new mortgage assistance application that will
allow servicers to help borrowers resolve delinquencies more quickly, and keep more people in their

This is ensuring that the application process is straightforward and as easy to navigate as possible.

The FHFA worked closely with both Fannie Mae and Freddie Mac to come up with a form that will simplify
the loan modification process for borrowers.

In addition, the GSEs’ (Government Sponsored Enterprise – Fannie & Freddie) announced a new Mortgage. Assistance Application (MAAP) that will replace the Uniform Borrower Assistance Form (UBAF) which is currently used for short sales and loan modifications.

The MAAP has been designed to balance 5 principles of loss mitigation learned from the previous housing
crisis. The 5 principles include 1) accessibility, 2) affordability, 3) accountability, 4) sustainability, and 5)

With extensive borrower testing, it was revealed that there was a number of opportunities to make the
form more user-friendly, including; reformatting the form with a cleaner, brighter look, and consolidating
related questions on the same page, adding questions that enable borrowers to express their preferred
method for being contacted by their servicer, and clarifying terms that borrowers identified as being

By utilizing the new MAAP, a borrower who’s struggling with their mortgage can now complete the
application prior to being 90 days delinquent, and submit it to their servicer.
Once the servicer receives the application along with supporting documentation, the servicer evaluates
the borrower for foreclosure alternatives and works with the borrower to explore their options.
Possible solutions can include a repayment plan, forbearance plan, loan modification, short sale, or deed-
in-lieu of foreclosure.

Along with the application modification, the MAAP reduces the supporting documentation required to
demonstrate a struggling borrower’s hardship and income. This will help simplify and streamline the
assistance process for both borrowers and servicers alike.

FHFA is encouraging servicers to implement the MAAP immediately. If not now, it must be implemented
by June 1, 2018.

Please click on the link below to view the revised Fannie Mae/Freddie MAAP form.

This will be very helpful for Chicago short sales, DuPage County short sales including
Elmhurst short sales, Lombard short sales and Downers Grove Short Sales.