Volume 28 - Number 43
November 11, 2011
Downloads Available: HAMP Activity - 3Q11
New Trials Slowing Down as HAMP Is Increasingly Dominated by Effort to Sustain Permanent Mods
The Obama administration’s refinance program for underwater mortgages got a much-publicized jolt of expanded guidelines that could stimulate new business, but the older Home Affordable Modification Program appears to be slowing down. An Inside Mortgage Finance analysis of recently released HAMP data reveals that only 74,630 new trial mods were started under the program during the third quarter. That was down 7.1 percent from the second quarter and represented the lowest number since the program began. Although there was an 11.8 percent increase in...(Includes one data chart)
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