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Volume 2014 - Number 42

November 6, 2014

Servicing Transfer Complaints ‘Escalating’ In HAMP; Little Response from Treasury

The Treasury Department isnít doing enough to address issues with servicing transfers in the Home Affordable Modification Program, according to the Special Inspector General for the Troubled Asset Relief Program. The SIGTARP warned that complaints about servicing transfers are ďescalating,Ē though thatís from a low base, with only 84 complaints from borrowers this year. ďThe serious problems raised by homeowners include lost and delayed HAMP applications, trial and permanent modifications not being honored, and the miscalculation or misapplication of monthly payments,Ē the SIGTARP said in a report released last week. The Treasury monitors...

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