Bank Of America / your npv test results
Denied For HAMP Because You Failed NPV Calculations – What is NPV Test?
By: Anna Cuevas; The Loan Mod Guru
Where you told that you were denied for the HAMP Loan Modification because you failed the NPV calculator and you are wondering what that means?
If the borrower is not approved for a HAMP modification because the transaction failed the NPV calculations, then the servicer must, explain what the NPV means tell you the factors used to make the NPV decision and advise you that you may request the values used in making the calculations along with the date the process was completed within 30 days of the notice of denial. and dates. The reason they have to provide this information to you is to give you the opportunity to make any necessary corrections to the values they used as they make or break your ability to be considered eligible for the Home Affordable Modification Program.
You or your authorized representative, can request the specific NPV values verbally or by writing to the servicer within 30 calendar days from the notice date and they must answer your request within 10 days.
If you request the NPV values and you have a foreclosure sale pending the servicer must not complete the foreclosure sale until 30 days after they deliver those values to you to give you time to correct the inaccurate values. If there are any.
Los Angeles County
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