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Making Home Affordable Program

Homeowner Equity Grows by More Than $815 Billion in Q1

House Atop Money/Credit: Creatas

The U.S. Department of Housing & Urban Development (HUD) and the U.S. Department of the Treasury have released the May edition of the Obama Administration's Housing Scorecard—a comprehensive report on the nation’s housing market. Data continue to show important progress across many key indicators—as the annual home price increase is the highest since the housing bubble burst in mid-2006 and purchases of new and existing homes remain strong—although officials caution that a full housing recovery will take more time.Click to continue

Servicers Continue to Demonstrate Improvement in Making Home Affordable Program Efforts

Keys_to_Homeownership/Credit: Creatas Images

The U.S. Department of Housing & Urban Development (HUD) and the U.S. Department of the Treasury have released the February edition of the Obama Administration's Housing Scorecard—a comprehensive report on the nation’s housing market. Data continue to show important progress across many key indicators—as home prices ended the year with strong gains and purchases of new homes and sales of existing homes were also strong—although officials caution that the overall recovery remains fragile.Click to continue

Permanent HAMP Loan Mods Hits the 1.1 Million Mark

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The U.S. Department of Housing & Urban Development (HUD) and the U.S. Department of the Treasury have released the December edition of the Obama Administration's Housing Scorecard—a comprehensive report on the nation’s housing market. Data continue to show important progress across many key indicators with the housing marketing bottoming out nationally and clearly turning a corner—as home values continue to rise and home sales remained strong in November—although officials caution that the overall recovery remains fragile. Click to continue

More Than 1.1 Million Approved for Permanent HAMP Loan Mods

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The U.S. Department of Housing & Urban Development (HUD) and the U.S. Department of the Treasury have released the November edition of the Obama Administration's Housing Scorecard— a comprehensive report on the nation’s housing market. Data continue to show signs that the housing market is strengthening—as home values continue to rise and home sales remained strong in October.Click to continue

Housing Scorecard Reports Nearly 1.3 Million Assisted Making Home Affordable Program

House Cash/Copyright: Getty Images/Credit: Jupiterimages

The U.S. Department of Housing & Urban Development (HUD) and the U.S. Department of the Treasury have released the October edition of the Obama Administration's Housing Scorecard, a comprehensive report on the nation’s housing market. Data continue to show signs that the housing market is strengthening—as home price improvements this year have helped lift more than 1.3 million families above water—although officials caution that the overall recovery remains fragile.Click to continue

FTC Shuts Down Dominican-Based Mortgage Relief Scam Targeting Americans

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At the request of the Federal Trade Commission (FTC), a U.S. district court has halted a nationwide scam operating from the Dominican Republic, but pretending to be based in Chicago, that allegedly peddled fake mortgage assistance relief to financially distressed Spanish-speaking homeowners in the United States.Click to continue

Obama Housing Scorecard Sees April Existing Home Sales Rise 2.4 Percent

For Sale Sign/Credit: Medioimages/Photodisc

The U.S. Department of Housing & Urban Development (HUD) and the U.S. Department of the Treasury have jointly released the May edition of the Obama Administration's Housing Scorecard. Data in the May Housing Scorecard show promise as indicators continue to show signs of stability, though officials caution that the overall outlook remains mixed. Sales of existing homes rose 2.4 percent in April, increasing in every region of the U.S. In addition, the inventory of newly constructed houses increased for the first time since April 2007.Click to continue

Government Triples Payout to Servicers for Principal Reduction Under Revamp of HAMP

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The Obama Administration has announced additional enhancements to the Making Home Affordable Program, including the Home Affordable Modification Program (HAMP). The Obama Administration has made a commitment to support American homeowners by providing refinancing opportunities for responsible homeowners, transitioning foreclosed properties into rental housing to help reduce the overhang of unsold homes, and providing states hardest-hit by the foreclosure crisis with resources to develop relief programs that work for their communities.Click to continue

Treasury Suspends Payments to 10 Largest Participating Servicers for Failing Scorecard

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The U.S. Department of Housing & Urban Development (HUD) and the U.S. Department of the Treasury have released the May edition of the Obama Administration's Housing Scorecard. New to this month’s report are detailed assessments for the 10 largest mortgage servicers participating in the Administration’s Making Home Affordable Program, setting a new industry benchmark for disclosure on servicer assistance to struggling homeowners.Click to continue

HOPE NOW Celebrates Four Years of Operations and Reports 1.65 Million Loan Mods in 2010

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HOPE NOW, the voluntary, private sector alliance of mortgage servicers, investors, mortgage insurers and non-profit counselors, wrapped up its fourth year of outreach efforts and assistance to the nation’s at-risk homeowners. The industry-led organization is poised for a busy 2011 in the areas of homeowner education/outreach, data reporting on aid to homeowners, technology innovation and mortgage issues management.

HOPE NOW highlights for 2010 included:Click to continue