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Volume 2014 - Number 47

December 11, 2014

Treasury Increases Incentives for Non-Agency HAMP, GSE Program Differences Remain

The Obama administration announced increased incentive payments for borrowers in the non-agency Home Affordable Modification Program along with an increase in funds for borrowers that need relocation assistance as part of a short sale or deed-in-lieu of foreclosure. Meanwhile, there are concerns that the HAMP program for mortgages serviced by the government-sponsored enterprises hasnít been extended to match the non-agency program. The changes to the non-agency HAMP were announced late last week by the Treasury Department and the Department of Housing and Urban Development. HAMP borrowers will be eligible...

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With rates higher this year, there has been talk of lenders liberalizing their underwriting standards in an effort to increase volume and make up for lower refis.

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