I just hung up with Chase (subprime), and due to the new Affordability Loan Modification Program just released, Chase has placed a hold on all loan modification requests.  This hold can be as long as next week.  The reason for this is, they are updating their policy procedures because they are still uncertain of what documentation the government/investors will require from the homeowner in order for them to be considered for this program.  The documentation may consist of more, or less, but until they are certain all requests are on hold.  Chase is also going paperless and has a new fax number to fax in your documents.  This fax number is 888-219-7813. 

WARNING-  be very careful when submitting your packages over to Chase.  As some of you have already experienced, if Chase does not have a complete, up-to-date package, your file will be declined and kick out with no call to you, the negotiator.  I am told, that they have too many requests in, and it is too much to call for updating documentation, so be prepared.