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New Deadline Set for Servicer Signoffs

The Treasury Department extended the deadline to Sept. 30 for mortgage servicers to sign Sarbanes-Oxley Act-type agreements certifying that they are in compliance with the Making Home Affordable Program.

The original deadline had been June 1 for servicers who signed the loan modification agreement before Oct. 31, 2009.

Servicers have urged the Treasury to change the language of the agreements, which make it a federal crime to provide false or misleading information to Fannie Mae or Freddie Mac.

The Treasury said it plans to issue additional guidance soon on revised requirements and content of the certification.

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