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Home | Tag Archives: HAMP

Tag Archives: HAMP

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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Loan Modifications Remain Stable in February

HOPE NOW, a private sector alliance of mortgage servicers, investors, mortgage insurers, and non-profit counselors, released its February 2014 loan modification data. The group reported that an estimated 42,000 homeowners received permanent modifications in the month, including modifications from proprietary programs and the government's Home Affordable Modification Program (HAMP).

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HUD: March Housing Scorecard Shows Progress

The U.S. Department of Housing and Urban Development's (HUD) latest Housing Scorecard for March, released in conjunction with the U.S. Treasury, showed progress in the housing market, but cautioned that the national economy is still healing from the Great Recession. In particular, the report commented that foreclosure starts continued to decrease while January home prices remained stable.

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Mortgage Performance Improves in Q4 2013

Mortgage Debt Relief

The Office of the Comptroller of the Currency (OCC) released a report Thursday, highlighting the performance of first-lien mortgages serviced by large national and federal banks continued to improve in the fourth quarter of 2013. The OCC Mortgage Metrics Report for the Fourth Quarter of 2013 found 91.8 percent of mortgages were currently performing, up slightly from 91.4 percent in Q3 2013.

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HAMP Anniversary Brings Mortgage Rate Increases

As the Home Affordable Modification Program (HAMP) reaches its five-year anniversary, some HAMP loans, including Fannie Mae HAMP loans, will begin to experience an increase in mortgage rates. When loans were modified, they were provided a below-market rate to help struggling homeowners. The rate was good for a set period of time, often five years, which makes HAMP's anniversary bittersweet for some homeowners who will now face rising interest rates.

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Florida Men Sentenced for Defrauding Millions from Homeowners

The Office of the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) announced that two Florida men accused of defrauding homeowners have been sentenced to 84 months in federal prison. Christopher Godfrey and Dennis Fischer were sentenced to 7 years in prison Thursday, as well as a subsequent three years of supervised release, for initiating a scheme to defraud homeowners by charging fees for applications that are provided by the government for free.

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