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Supplemental Directive 10-04: Home Affordable Unemployment Program

On May 11, the U.S. Department of the Treasury released Supplemental Directive 10-04 that provides assistance to borrowers whose hardship is related to unemployment.  When a borrower is unemployed, a HAMP trial period plan or permanent HAMP modification may not be appropriate, and in some cases, the borrower may not have the ability to make the required payments.  The Supplemental Directive also provides guidance to servicers of first lien mortgage loans that are not owned or guaranteed by Fannie Mae or Freddie Mac (Non-GSE Mortgages) or insured or guaranteed by a federal agency, such as the Federal Housing Administration (FHA), and is effective for all participating servicers on July 1, 2010. 

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