bobbyw24
03-07-2010, 09:35 AM
FDIC Chairman Sheila Bair – a recognized champion of homeownership preservation whose loan modification model has set the standard for the industry – is throwing her support behind the administration’s Home Affordable Modification Program (HAMP).
In remarks made at the Multicultural Real Estate and Policy Conference in Washington, D.C. Thursday, Bair called HAMP “the most ambitious mortgage modification effort ever undertaken.”
She dismissed charges made by lawmakers and other market observers that HAMP has failed, noting that “it’s still too soon to know how successful it will ultimately be.”
The FDIC chairman said, “It is true that the numbers of trial and permanent modifications have lagged behind program projections. But at the same time, we saw a slowdown in the pace of new foreclosures in the second half of last year.”
http://www.dsnews.com/articles/bair-defends-hamp-voices-support-for-principal-write-downs-2010-03-05
In remarks made at the Multicultural Real Estate and Policy Conference in Washington, D.C. Thursday, Bair called HAMP “the most ambitious mortgage modification effort ever undertaken.”
She dismissed charges made by lawmakers and other market observers that HAMP has failed, noting that “it’s still too soon to know how successful it will ultimately be.”
The FDIC chairman said, “It is true that the numbers of trial and permanent modifications have lagged behind program projections. But at the same time, we saw a slowdown in the pace of new foreclosures in the second half of last year.”
http://www.dsnews.com/articles/bair-defends-hamp-voices-support-for-principal-write-downs-2010-03-05