“ The administration’s Home Affordable Modification Program (HAMP) has been the target of some heavy criticism, with naysayers taking aim at everything from the program’s slow progress and below par results to servicers’ lack of capacity to handle large-volume modification work. The latest numbers may be more fodder for the fire.
According to the Treasury’s March HAMP report card released Wednesday, 230,801 homeowners have been granted permanent modifications under the program. Over 60,000 trial mods were converted in March alone, compared to just under 53,000 in February, and the Treasury says an additional 108,000 permanent modifications have been approved and are pending only borrower acceptance.”