Subscribe to the print edition of National Mortgage Professional MagazineSubscribe to our RSS feedFollow us on TwitterGet daily updates via emailJoin us on Facebook

Home Affordable Modification Program (HAMP)

New York AG Files Suit Against Florida and New York Loan Mod Firms

Gavel Green Book/Credit: Creatas

Attorney General Eric T. Schneiderman filed a lawsuit in New York County Supreme Court against four interrelated companies and their principals for operating a fraudulent loan modification scam. The lawsuits were filed against Home Affordable Direct, Inc. (Farmingdale, NY), Home Affordable Solutions, Inc. (Farmingdale, NY), JR Holding Group Corp (Babylon, NY), Clear Solutions and Settlements, Inc. (Tampa, FL) and their principals, Javier Gutierrez and Shadi Soumekh.Click to continue

HOPE NOW Reports 116,000-Plus Loan Mods Granted in Q2

Foreclosure Sign Pic

HOPE NOW has released data for the second quarter of 2014, which shows that approximately 421,000 homeowners received non-foreclosure solutions from mortgage servicers between the months of April and June. Permanent loan modifications totaled approximately 116,000 and short sales totaled 33,000.Click to continue

Foreclosure Inventory Found to be Significantly Higher in Judicial States

Black Gavel Pic/Credit: Brand X Pictures

The Data and Analytics division of Black Knight Financial Services (BKFS) has released its latest Mortgage Monitor Report, looking at data as of the end of June 2014. An analysis of the month's mortgage performance data showed that the nation's inventory of loans in foreclosure is disproportionately distributed in states with judicial foreclosure processes.Click to continue

HAMP Hacker Pleads Guilty to Misusing Fannie Mae Site

Black Gavel Pic/Credit: Brand X Pictures

The Office of the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) has announced that Sathish Kumar Chandhun Rajendran of Sterling, Va., has pled guilty to engaging in unauthorized access to government servers that hosted a Fannie Mae Web site used to support federal mortgage loan modification programs, including the Home Affordable Modification Program (HAMP). The plea was entered before U.S. District Judge T.S. Ellis III, in federal court in Alexandria, Va.Click to continue

Nearly 40,000 U.S. Homeowners Granted Permanent Loan Mods in May

Foreclosed Home Sign

HOPE NOW has released its May 2014 loan modification data, finding that an estimated 37,000 homeowners received permanent, affordable loan modifications from mortgage servicers during the month of May. This total includes modifications completed under both proprietary programs and the government’s Home Affordable Modification Program (HAMP).Click to continue

Mortgage Servicer Ocwen Supports HAMP Extension

Ocwen New Logo

Ocwen Financial Corporation has announced its support for Treasury Secretary Jack Lew's recent announcement that the Home Affordable Modification Program (HAMP) is being extended through 2015 and supports his call for the reauthorization of the Mortgage Forgiveness Debt Relief Act (the Debt Relief Act).Click to continue

SunTrust Reaches Agreement With Multi-Agency Force on HAMP Issues

Hands Shaking Pic

The Office of the Special Inspector General for the Troubled Asset Relief Program (SIGTARP), the U.S. Department of Justice, the U.S. Attorney’s Office for the Western District of Virginia, the Federal Housing Finance Agency Office of Inspector General, and the U.S. Postal Inspection Service have announced that a non-prosecution agreement with SunTrust Mortgage Inc. has been reached that resolves a criminal investigation of SunTrust’s administration of the Home Affordable Modification Program (HAMP).Click to continue

Seven Million-Plus U.S. Homeowners Granted Loan Mods Through April

Foreclosed Home Sign

HOPE NOW has released its April 2014 loan modification data, finding that 7.02 million American homeowners have received a loan modifications since the first data report was released in 2007. This total includes modifications completed under both proprietary programs and the government’s Home Affordable Modification Program (HAMP).

Approximately 5.65 million homeowners have received proprietary loan modifications since 2007 and 1,364,674 homeowners have received HAMP modifications (Note: HAMP reporting began in 2009).Click to continue

Obama Scorecard Highlights Rebound in the Sale of New and Existing Homes

Keys_to_Homeownership/Credit: Creatas Images

The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of the Treasury released the May edition of the Obama Administration's Housing Scorecard – a comprehensive report on the nation’s housing market. The latest data show progress among key indicators, including growing equity and a rebound in the sale of new and existing homes. While this scorecard notes positive overall trends in the housing market, officials caution that the harsh winter slowed growth as the economy recovers from the Great Recession.Click to continue