The Treasury unveiled new changes to the Home Affordable Modification Program (HAMP) that could streamline the process for homeowners.
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Although the numbers are improving, a third of loans modified by Fannie Mae and Freddie Mac early last year were delinquent after six months.
These loans were modified prior to implementation of Obama’s Home Affordable Modification Program.
DHW asks: Do you think loan modifications are making a difference?
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Tags: fannie mae, freddie mac, HAMP, home affordable modification program, loan modifications
Just one day before the Congressional Oversight Panel criticized the government’s loan modification program as outdated and under-performing, HUD secretary Shaun Donovan reported the pace of trial modifications are beginning to exceed foreclosures. “The fact we now have a pace of trial modifications that exceeds the pace of weekly foreclosures is a very important milestone,” [...]
Tags: congressional oversight panel, foreclosures, HAMP, loan modifications
The Wall Street Journal published an insightful op-ed piece by Edward Pinto. Mr Pinto sees two major shortfalls with the Treasury’s attempt to modify delinquent mortgages through the Home Affordable Modification Program (HAMP).
“The first shortfall is that the program doesn’t provide a clear process to triage the over 7.5 million delinquent loans.”
“It doesn’t take into [...]
Tags: edward pinto, HAMP, home affordable modification program, Housing, loan modification, short sale, treasury, wall street journal
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