Waterfall Worksheets

MFJ’s Foreclosure Prevention Project helps low-income borrowers with loans in default, or in imminent risk of default, stay in their homes. Loan modifications are a critical tool in avoiding foreclosure. Our Waterfall Worksheets aid advocates in assessing a borrower’s eligibility to participate in certain loan modification programs.

For modification applications on a loan held by Fannie Mae or Freddie Mac, click HERE for MFJ’s Flex Modification Waterfall Worksheet. For the Flex Modification Waterfall Worksheet User’s Guide, click HERE. The Flex Modification Waterfall covers both the general Flex Modification and the special rules for homeowners affected by the pandemic.

For loans insured by the Federal Housing Administration, click HERE to determine whether borrowers qualify for FHA-HAMP. For the FHA-HAMP Waterfall User’s Guide, click HERE. For FHA borrowers who have been affected by the pandemic, click HERE for the FHA COVID Recovery Worksheet. For the FHA COVID Recovery User’s Guide, click HERE.


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