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Home | Tag Archives: HAMP

Tag Archives: HAMP

OCC: Loan Mods Lowered Monthly Payments for 91 Percent of Borrowers

cutting-money

More than 91 percent of borrowers nationwide who received mortgage loan modifications in the second quarter of 2014 had their monthly principal and interest payments reduced, while 56.1 percent of borrowers lowered their monthly payments by 20 percent or more, according to a report released earlier this week by the Office of the Comptroller of the Currency (OCC) regarding first-lien mortgages at large national and federal savings banks.

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Loan Mods Down, Foreclosure Starts Up in July

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The total number of homeowners receiving permanent loan modifications declined in July, as did the number of modifications made under the Home Affordable Modification Program (HAMP), according to figures released this week by HOPE NOW. Meanwhile, foreclosure starts rose a little more than 1,000 from June to settle at 70,401.

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Three Charged in Massive Mortgage Modification Scam

fraud-two

Three men were arrested and charged in connection with what is believed to be one of the biggest mortgage modification schemes ever perpetrated, according to an announcement made by Christy Romero, Special Inspector General for the Troubled Asset Relief Program (SIGTARP), and Preet Bharara, the U.S. Attorney for the Southern District of New York.

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HOPE NOW: Loan Mods Reach 7 Million Mark; 42k in April

HOPE NOW released its latest data on loan modifications, noting that in April approximately 42,000 homeowners completed a modification for their home's mortgage. All told, the organization reported that more than 7.02 million homeowners have completed home mortgage modifications since the third quarter of 2007.

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Loan Modification Activity Creeps up in March

HOPE NOW, a group focused on keeping distressed homeowners in their homes, reported they had successfully completed roughly 133,000 modifications in the first quarter of 2014. Of the reported total, approximately 41,000 permanent modifications were from the Home Affordable Modification Program (HAMP).

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HUD: Housing Improves; Still Needs Further Recovery

The U.S. Department of Housing and Urban Development (HUD) released its April 2014 Housing Scorecard, noting that home prices remained stable, foreclosure completions continued to their lowest levels since mid-2007, existing home sales stabilized, new home sales slowed, and the administration's foreclosure mitigation efforts continued to provide relief for troubled homeowners.

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SIGTARP Offers Recommendations for HAMP

In its quarterly report to congress Wednesday, the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) outlined its role as law enforcer for TARP recipients and as adviser to the Treasury. SIGTARP highlighted and reiterated a few of its previous recommendations, including increasing incentives for homeowners in the Home Affordable Modification Program (HAMP).

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