The U.S. Departments of Treasury and Housing and Urban Development (HUD) have jointly issued the January Housing Scorecard. The Scorecard is a round-up of most national housing data including reports for the Census Department, National Association of Realtors® (NAR), S&P/Case-Shiller, etc., all of which has been published on MND already.
The focus of the Housing Scorecard this month is the Making Home Affordable Program (HAMP), the joint Treasury/HUD initiative to modify delinquent mortgages and prevent foreclosures. Despite several efforts to retrench and modify the program, it has received criticism from Congress, borrowers, and consumer groups for its failure to move borrowers from the required three month trial modification program into permanent loan modifications.
"Over the last 20 months, the Obama Administration has confronted the nation's housing crisis with an unprecedented effort to promote stability in the market - keeping millions of families in their homes and helping millions more to save money by refinancing. But the data clearly show that the market remains extremely fragile," said HUD Assistant Secretary Raphael Bostic. "We know that many responsible homeowners are still fighting to make ends meet. That's why we're committed to continuing to provide help to homeowners by implementing the broad range of programs the Obama Administration has put in place."
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Source: http://www.mortgagenewsdaily.com/02012011_housing_scorecard_hamp.asp
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