Freddie Mac goes door-to-door to help owners

Freddie Mac, a government sponsored enterprise (GSE), has hired a private vendor to promote mortgage modifications to homeowners who have missed payments but aren’t responding to mail or phone calls. The vendor, Titanium Solutions Inc., will meet with delinquent borrowers at their homes to help them supply missing information, documents and complete other actions to qualify them for a three-month trial payment period under Freddie Mac’s under President Obama’s Making Home Affordable program.Titanium will also help borrowers who have started trial periods to complete the documentation needed to convert into final modifications. “By meeting with our borrowers one on one, in their homes, Titanium Solutions can help them overcome the roadblocks keeping them from starting their Home Affordable Modification trial periods,” sys Ingrid Beckles, senior vice president of default asset management at Freddie Mac. “We believe this can give borrowers seeking Home Affordable Modifications the same type of personalized guidance they may have had when they were buying their home or applying for their mortgage.”To minimize fraud, Titanium Solutions representatives will not accept mortgage payments or any other money from borrowers. Representatives will also carry a copy of the servicers’ solicitation letter the borrower initially received. The letters are uniquely formatted and include unique information about the mortgage loan. For more information about Freddie Mac efforts to help borrowers and support Making Home Affordable, visit http://freddiemac.com/avoidforeclosure. Congress established Freddie Mac in 1970 to provide liquidity, stability and affordability to the nation’s residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Over the years, Freddie Mac has made home possible for one in six homebuyers and more than five million renters.