End of HAMP Heralds New Era in Loan Modification and Loss Mitigation for Lenders
Launched in response to the financial crisis of 2008, the federal Home Affordable Modification Program (HAMP) officially ended on December 31, 2016, with approximately 2.8 million homeowners having been granted permanent modifications to their mortgage loans. Recent reporting from the Treasury Department heralded HAMP as having been a success in many ways, and its conclusion…
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