Troubled Asset Relief Program

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Geithner Urges Servicers to Boost Loan Modifications 

Jul 13, 2009By

The US Treasury Department sent a strong message to mortgage servicers participating in the Home Affordable Modification Program (HAMP), urging a ramp-up in renegotiating loans, according to a letter signed by Treasury secretary Timothy Geithner and Housing and Urban Development (HUD) secretary Shaun Donovan. The HAMP distributes Troubled Asset Relief Program (TARP) funds for servicer, borrower and lender/investor incentives on successful modifications initiated.

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