Volume 2014 - Number 19
September 12, 2014
Downloads Available: HAMP Activity by Non-Agency Servicers - 2Q14
Servicers’ HAMP Performance Slipping
Servicer performance in the Home Affordable Modification Program is at one of the lowest levels in the five-year history of the loss mitigation program, according to the Treasury Department and the Special Inspector General for the Troubled Asset Relief Program. Last week, the Treasury revealed that four of the seven largest servicers participating in the non-agency portion of HAMP need at least moderate improvement. CitiMortgage was ranked the lowest among the large servicers and will have its HAMP incentive payments withheld by the Treasury until the servicer’s performance improves.
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