- the modification is only for a reduction of the interest rate;
- the mortgage term is decreased and the Mortgage Payment will be increased $100 or less per month; or
- the mortgage term is decreased and the Mortgage is more than three years old.
- any revision of periodic Mortgage Insurance Premium (MIP) payments; and
- any legal or administrative costs attributable to the modification (these costs may be collected separately from the Borrower).
For policy information see Handbook 4000.1 III.A.1.j.ii.(A), (C), (D) at https://www.hud.gov/program_offices/administration/hudclips/handbooks/hsgh