With HAMP set to expire at the end of this year, how much of an effect has the program had on GSE-backed loans?
Read More »HAMP: Managing Higher Payments After Resets
Treasury has created a three-pronged safety net to help HAMP borrowers handle step-ups and avoid re-defaulting when their five-year modification expires.
Read More »Treasury Looks to the Future as HAMP Winds Down
What does Treasury have in place for the mortgage industry after HAMP expires on December 30, 2016?
Read More »Freddie Mac Plans to Use Proven Formula for Assisting HAMP Borrowers With Rate Increases
The research found that 31 percent of borrowers had not talked to their servicer/lender, 28 percent did not believe their servicer could help them, yet 74 percent (nearly three-quarters) said they would talk to a housing counseling agency, yet 38 percent of the homeowners who were surveyed did not know that counseling was available to them.
Read More »The Impact of HAMP on Loss Mitigation Norms
It has enabled the industry to evolve its loss mitigation norms by helping to define a process that uses income to drive to a specific debt-to-income level, and it is likely that modifications beyond HAMP will continue to occur on this basis.
Read More »HAMP Borrowers Facing Higher Payments May Be Able to Turn to Freddie Mac
According to Treasury's Making Home Affordable Program Performance Report for Q1 2015, approximately 2.3 million homeowners had started HAMP trial modifications in the six-year existence of the program.
Read More »Majority of GSE HAMP Permanent Modifications Remain Active
Slightly more than 419,000 permanent loan modifications completed by homeowners using the Department of Treasury's Home Affordable Modification Program (HAMP) on loans backed by Fannie Mae and Freddie Mac remained active as of the end of May 2015.
Read More »Treasury Clarifies HAMP Participation Numbers Reported by SIGTARP
As a result of the improvements Treasury has made to HAMP over the years, the number of denied HAMP applications has been steadily declining each year since 2012. That year, the number of denied applicants reached 998,000. In 2013, that number decreased by almost 50 percent down to 523,000. In 2014, the number dropped to 334,000, and for the first four months of 2015, the number was 100,000.
Read More »FHFA Demonstrates Progress Toward Goal of Keeping At-Risk Families in Homes
More than half of the nearly 3.5 million foreclosure prevention actions completed by Fannie Mae and Freddie Mac since the start of the conservatorships in September 2008 were permanent loan modifications, according to FHFA.
Read More »Report: GSEs’ HAMP Modifications Perform Better Than Non-HAMP Mods
According to FHFA, nearly 1.1 million distressed homeowners have been offered a HAMP modification since April 2009, when Treasury and HUD started the program. Out of those, approximately 638,200 homeowners received permanent modifications. As of the end of the fourth quarter, about 7,700 homeowners were currently involved in a trial HAMP modification.
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