SIFMA’s AMG Applauds Administration’s Guidelines For Mortgage Modification Program

The Securities Industry and Financial Markets Association (SIFMA) today released the following statement from Asset Management Group (AMG) Managing Director Tim Cameron, in response to the Administration’s updated guidance for servicers participating in its Home Affordable Modification Program (HAMP).

“The AMG appreciates the Administration’s efforts to create affordable and sustainable solutions for borrowers experiencing difficulty with their mortgage loans. We believe today’s updated guidance will further aid borrowers in converting their trial modifications to permanent modified mortgages.

“We are also support Treasury’s decision to retain the income verification requirements of the program. Ensuring a stable modification will ultimately lower costs of the program for servicers and, more importantly, homeowners."