Making Affordable Home Plan is Still Missing Data for Key Loan Modification Net Present Value Calculation.

In reading through loan modification guidelines under the new Making Affordable Home Plan, it became obvious that key data required to complete the net present value calculation has yet to be published by Treasury and the Federal Housing Finance Agency.

So,this morning I asked a question on a Washington Post /Neighborworks on line chat about the new program and the response pretty much confirms that Treasury and FHFA have not shared any SPECIFIC date for the release of that data. (HERE is a link to the complete chat).

Here's what I asked and the answer returned from Neighborworks Rep ( I don't blame her, she is only confirming the absence of any SPECIFIC date commitment):
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Portland, Ore.: A Key provision of the loan modification guidance is the Net Present value determination but key variables are yet to be published.The Modification Program Guidelines document says 1. That FHFA will provide key information necessary to complete this calculation ".... home price forecast, valuation of the house price depreciation reserve, foreclosure timelines, and foreclosure costs and REO stigma". 2.Treasury is also supposed to provide updated "Cure Rates and Redefault Rates"

WHEN will these key variables be available?

Tom Cusack

Marietta Rodriguez: THe NPV test is a key element of this plan....we hope that specifics will be released soon. Certainly your lender should be able to walk you through your specific property valuation and you should ask them to do so.