HAMP Suffered From Extremely Poor Oversight

By: Tuesday October 4, 2011 1:58 pm

New documents obtained by ProPublica through the Freedom of Information Act provide new insights into what a complete disaster the Home Affordable Modification Program (HAMP) has been.  HAMP was created with $50 billion from TARP funds and was supposed to facilitate mortgage modifications by reducing monthly payments for potentially millions of stressed homeowners.  But the [...]

GAO: Treasury Has Failed to Make Needed Improvements to HAMP

By: Wednesday March 2, 2011 4:43 pm

The Home Affordable Modification Program (HAMP) has basically been a disaster since its start, and it remains one to this day. Roughly nine months ago, the Government Accountability Office examined the program, found many problems, and made several recommendations to improve it. Since then, the Treasury department has failed to make most of the needed [...]

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