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Tag: Hamp

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    5452 SEEN

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    Secret Documents Show Weak Oversight of Key Foreclosure Program

    By Paul Kiel
    ProPublica
    The Obama administration launched its main program to prevent foreclosures in the spring of 2009 with $50 billion and abundant promises. What the Home Affordable Modification Program, or HAMP, lacked — and wouldn’t have for years — was effective oversight of the big banks that were crucial to the program’s success.

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    5635 SEEN

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    Foreclosure Fail: Study Pins Blame on Big Banks

    By Paul  Kiel, ProPublica  Over the past several years, we’ve reported extensively on the big banks’ foreclosure failings. As a result of banks’ disorganization and understaffing — particularly at the peak of the crisis in 2009 and 2010 — homeowners were often forced to run a gauntlet of confusion, delays, and errors when seeking a mortgage modification.

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