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Making Home Affordable Continues

Posted in Mortgage Modification

HAMP continues aiding borrowers Three firms still fall short in meeting servicing goals. Thanks to Housing Wire. Kerri Ann Panchuk December 9, 2013 4:48PM Bank of AmericaCitiTreasuryHome Affordable Modification ProgramHAMPhomeownersObama AdministrationHousing Scorecard EmailPrintReprints  More AAA Related Articles MRG Releases Loan Modification Packages Permanent HAMP mods fall 26% in August Treasury Begins Review of HAMP Trials Related Companies OSC America’s Infomart / AIM YOUR WAY, LLC REO Management Solutions, LLC The government’s Home Affordable Modification Program continues chugging away even though three servicers received less-than-stellar marks on key areas of borrower outreach and servicing, the Treasury said Monday. But HAMP overall continues to succeed, the government noted. The Obama Administration Housing Scorecard came out this week, revealing the latest data on how many homeowners obtained aid through government housing programs — namely HAMP. Of all the non-GSE loans eligible for principal reductions...

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Problems Continue with HAMP

Posted in Mortgage Modification

HAMP Not Working As Planned Recent figures show that only a small fraction of homeowners are seeing any kind of permanent relief under the federal Making Homes Affordable Program (HAMP), and fewer consumers are applying for the program, leading one well-known economics blog to suggest that the program is dying. Thus, a major effort by President Obama’s administration to assist homeowners and keep them out of foreclosure appears to be failing. On Monday, the government issued data showing that HAMP only helped 300,000 defaulting households obtain permanent relief by way of new loans.  Yet, there appear to be over four million households in danger of losing their homes through foreclosure. The government previously estimated that HAMP would help 1.7 million households. Click here to read the entire...

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