How it Works
Whether it’s the government’s complicated HAMP and HAFA models or an institution’s proprietary set of NPV calculations, assumptions or lookup tables, the REST Report easily handles them all.
Information Submitted For Analysis
Lists all of the Borrower, Property, Loan, Delinquency and Hardship Information submitted for analysis. Includes the Investor, Servicer and Submitter overrides. A list of the NPV Input Data Fields and Values in a format typically used by Servicers when reviewing loan modification submissions is also provided.
Various Calculation Assumptions & Supporting Information
Provides information about some of the key factors used in the various analytical models including the borrower’s financial information, the HAMP NPV Model calculations, and sources for the Estimated Property Valuation(s).
Summary of Findings
Provides a recap of the report analytics, listing key data points and findings for all of the eligible and ineligible loan disposition options considered.
Analysis of all currently available programs
The REST Report check eligibility against all currently available loan modification programs, including HAFA and non-HAMP programs.
HAMP Loan Modification Analysis
Checks the eligibility of the submitted information for HAMP modifications. Applies HAMP Tier 1 and Tier 2 Standard Waterfall and Principal Reduction Alternative (PRA) models as applicable. Determines the proposed modification terms. Calculates all Net Present Values (NPV’s) per model requirements.
Additional Loan Modification Options Considered
Evaluates the data using various non-HAMP modification options. These models provide additional loan restructuring alternatives. Can include proprietary or investor-specific models.
Short Sale Alternative (HAFA)
The submitted information is evaluated for the Home Affordable Foreclosure Alternative (HAFA) Short Sale Option. This section provides an overview of the Short Sale Process and presents qualifying HAFA Short Sale Terms including Minimum Acceptable Net Proceeds, Allowable Transaction Costs, etc.
A clear picture
Summarized and concise for the complete picture
Overview & Approach
Outlines the typical Investor/Servicer Loss Mitigation Strategies and Disposition Hierarchy. Describes the Loan Modification Options, Short Sale Alternatives and Foreclosure Analytics contained in the report
Foreclosure NPV Comparisons
Throughout the analysis, the Net Present Values (NPV) of the various Loan Disposition Options are compared to the projected NPV's of the loan not being modified, defaulting and proceeding into foreclosure. This section provides more insight into the Foreclosure projections and various NPV calculations.
Affordable Mortgage Payment Analysis
This report provides a high-level ‘worksheet’ that shows the borrower’s pertinent income and expense information/ratios and derives various Unpaid Principal Balance (UPB), Interest Rate and Loan Term permutations that the borrower can afford.
Take your pick...
The REST Report works with all major servicers
For even more detail, additional reports are available
Depending on your organization's setup and configuration, you may have additional add-on reports included as part or your REST Analytics. Here are two of our most popular add-on reports
EPV / NPV Break-even Analysis (Add-on Report)
The EPV/NPV Break-Even Analysis collects multiple Estimated Property Values from various sources and then, using HAMP's Tier 1 Standard program guidelines and assumptions, runs iterative permutations to determines the Property Value (if any) at which the NPV of a HAMP-eligible Standard Loan Modification would swing from NPV Positive to NPV Negative when compared to the NPV without the proposed modification.
Title Search (Add-on Report)
Provides a comprehensive Title Search on the Subject Property, identifying Chain of Title, Voluntary/Involuntary Liens, etc. This Add-On Report is primarily used for Short Sale or Litigation purposes.