Obama's HAMP reaches milestone weeks ahead of schedule – NMP Skip to main content

Obama's HAMP reaches milestone weeks ahead of schedule

NationalMortgageProfessional.com
Oct 08, 2009

Nearly one month ahead of a Nov. 1 benchmark set earlier this year, the U.S. Department of the Treasury and U.S. Department of Housing and Urban Development (HUD) have announced a new milestone of more than 500,000 trial loan modifications in progress under the Making Home Affordable Program (HAMP). The goal of 500,000 trial loan modifications by Nov. 1 initially set in July pushed servicers to ramp up program implementation and sustain a faster pace of modifications; trial modifications are now being issued at a faster rate than new homeowners are becoming eligible. Still, the Administration believes that more can and should be done to assist struggling homeowners and to stabilize the housing market. As part of a continued effort to improve program performance, senior Treasury and HUD officials held the next in a series of meetings with servicers this afternoon, with discussion focused on improving servicer efficiency and responsiveness to borrowers during the modification process. Additionally, Treasury and HUD released the next Monthly MHA Program Report, which tracks servicer performance through the month of September, ending Sept. 30, 2009. That report can be found by clicking here. 
Published
Oct 08, 2009
MISMO Seeks Public Comment On 3 eMortgage Resources

Updates proposed to MISMO Business Glossary, eMortgage Glossary, and eModification Reference Flyer.

Regulation and Compliance
Aug 05, 2022
As Expected, The Fed Raises Rate By Another 0.75%

Experts say housing industry will shrug off the latest increase.

Regulation and Compliance
Jul 27, 2022
AmTrust Ends 'No-Poach' Agreement, Pays $1.25M Fine In Deal With N.Y. AG

Company also agrees to cooperate with ongoing investigations of the title insurance industry.

Regulation and Compliance
Jul 25, 2022
NAR Chief Economist: Nationwide Home Price Decline Won't Happen Soon

Lack of inventory continues to support growth in prices, which have increased year over year for 124 straight months.

Regulation and Compliance
Jul 22, 2022
FHFA Director: Fannie, Freddie Need $300B Combined In Capital

So far, the enterprises combined have built $83.5 billion in reserves, or about 27% of the target.

Regulation and Compliance
Jul 21, 2022
Expansion Of Community Reinvestment Act A Poor Fit For A Non-Problem

Equating non-bank mortgage companies to banks is misguided for several reasons.

Analysis and Data
Jul 20, 2022