Survey of Housing Counselors About HAMP
U.S. Government Accountability Office
Contents
- I. Counselor Background Information
- II. General Borrower Experiences
- III. Trial Modifications
- IV. Proprietary Modifications
- V. HAMP Denials of Trial Modifications
- VI. HAMP Solution Center
- VII. Ways Treasury Could Improve HAMP
- Completed
- Print and Submit
Introduction and Instructions:
Thank you in advance for taking the time to share this information with GAO. We understand that borrowers have a range of experiences with HAMP, but please respond to the questions with the experience of the typical borrower in mind. Unless stated otherwise, please include your experiences with borrowers since June 1, 2010, when servicers were required to evaluate borrowers for HAMP with verified, rather than stated, income.
This survey is divided into seven sections and is primarily composed of multiple choice, close-ended questions. A few questions are open-ended, and there is a space provided for you to type in your answer. This survey should take about 20 minutes to complete. In our report to Congress, we will generally use only the aggregated results of this survey. While we may use individual responses, we will do so in a manner designed to ensure that individual respondents, or servicers identified by individual respondents, cannot be identified. Further, GAO will not otherwise release individually identifiable versions of responses unless required by law or requested by a member of Congress. Thank you for your participation.
To learn more about navigating, exiting, and printing the survey, please click here.
I. Counselor Background Information
1. How many months have you been performing foreclosure counseling?
2. Have you been performing foreclosure counseling for less than 3 months?
| Did not answer question | YES - STOP! We are interested in having counselors with at least 3 months of experience complete the survey. Thank you for being willing to participate. Please click the EXIT BUTTON at the bottom of this window to exit. | NO | No response | Number of respondents |
|---|---|---|---|---|
| % | % | % | % | |
| 0.0 | 0.0 | 99.7 | 0.3 | 396 |
3. Approximately how many borrowers have you counseled in-depth on HAMP-related matters since June 1, 2010? (Please do not include borrowers who have contacted you to only ask general questions on HAMP.)
| Did not answer question | 0-5 borrowers - STOP! | 6-25 borrowers | 26-50 borrowers | 51-75 borrowers | 76-100 borrowers | More than 100 borrowers | No response | Number of respon -dents |
|---|---|---|---|---|---|---|---|---|
| % | % | % | % | % | % | % | % | |
| 0.0 | 0.0 | 25.0 | 21.2 | 15.9 | 9.1 | 28.0 | 0.8 | 396 |
4. How many months have you been performing HAMP counseling?
5. Approximately what percent of all borrowers you counseled in-depth since June 1, 2010 would you consider to be those you counseled on HAMP? (Provide whole percent up to 99)
6. How has your volume of HAMP-related borrowers changed since
June 1, 2010?
| Did not answer question |
Increased |
Stayed the Same |
Decreased |
No response |
Number of respondents |
|---|---|---|---|---|---|
| % | % | % | % | % | |
| 0.0 | 37.2 | 48.9 | 12.7 | 1.3 | 393 |
7. Under which of the following counseling organizations or agencies do you work?
| Did not answer question |
NeighborWorks Organization |
State Housing Finance Agency |
HUD Approved Housing Counseling Agency |
No response |
Number of respondents |
|---|---|---|---|---|---|
| % | % | % | % | % | |
| 0.0 | 17.6 | 6.9 | 74.7 | 0.8 | 392 |
What is the abbreviation of the state in which your work site is located (e.g., CA, VA)?
| % | |
|---|---|
| AK | 0.3 |
| AL | 1.5 |
| AR | 0.3 |
| AZ | 9.7 |
| CA | 7.4 |
| CO | 3.6 |
| CT | 0.5 |
| DC | 0.8 |
| DE | 1.5 |
| FL | 2.8 |
| GA | 1.8 |
| HI | 0.3 |
| IA | 1.8 |
| ID | 1.0 |
| IL | 10.0 |
| IN | 2.6 |
| KS | 0.5 |
| KY | 1.0 |
| LA | 1.0 |
| MA | 3.3 |
| MD | 3.8 |
| ME | 0.3 |
| MI | 2.6 |
| MN | 4.1 |
| MO | 1.8 |
| MS | 0.3 |
| MT | 0.8 |
| NC | 1.8 |
| NE | 1.0 |
| NH | 0.5 |
| NJ | 1.3 |
| NM | 0.3 |
| NV | 0.5 |
| NY | 4.9 |
| OH | 3.3 |
| OR | 2.1 |
| PA | 6.7 |
| RI | 0.3 |
| SC | 0.5 |
| SD | 0.3 |
| TN | 1.3 |
| TX | 2.8 |
| UT | 0.8 |
| VA | 1.5 |
| VT | 0.5 |
| WA | 1.5 |
| WI | 2.6 |
| WV | 0.3 |
8. What is the primary geographic coverage of the borrowers that you counsel?
| Did not answer question |
City |
One County |
Several Counties |
Statewide |
Nationwide |
No response |
Number of respondents |
|---|---|---|---|---|---|---|---|
| % | % | % | % | % | % | % | |
| 0.0 | 7.1 | 20.4 | 49.4 | 18.8 | 4.3 | 0.0 | 393 |
9. Do you primarily spend most of your time counseling borrowers by telephone or face-to-face (exclude initial small group sessions)?
| Did not answer question |
Telephone |
Face-to-face |
No response |
Number of respondents |
|---|---|---|---|---|
| % | % | % | % | |
| 0.0 | 28.8 | 70.9 | 0.3 | 392 |
II. General Borrower Experiences
10. Think of the typical HAMP borrowers you have worked with since
June 1, 2010. Then, rank the three most common reasons or
issues for which borrowers have contacted you about HAMP
based on frequency of contact. (Enter the letter of the most
frequent reason first, second most next, third last -- after the
"Other" specify box.)
a. Questions about HAMP program or application
b. Difficulty contacting servicer about HAMP
c. Borrower has difficulty submitting income documentation (cannot
locate required documents, etc.)
d. Servicer claims to have lost HAMP application documentation
e. Servicer misapplying guidelines
f. Borrower feels s/he was wrongly denied HAMP
g. Borrower has been in HAMP trial modification for
more than 3 months
h. Servicer referred a loan to foreclosure during HAMP application
process
i. Servicer scheduled or conducted a foreclosure sale during HAMP
application process
j. High back-end DTI borrowers requiring counseling
k. Other
If Other, please specify:
b. Most frequent reason
| Number of respondents=392 | % |
|---|---|
| A Questions about HAMP program or application | 20.9 |
| B Difficulty contacting servicer about HAMP | 16.3 |
| C Borrower has difficulty submitting income documentation | 3.3 |
| D Servicer claims to have lost HAMP application documentation | 25.5 |
| E Servicer misapplying guidelines | 3.3 |
| F Borrower feels s/he was wrongly denied HAMP | 9.2 |
| G Borrower has been in HAMP trial modification for more than 3 months | 15.1 |
| H Servicer referred a loan to foreclosure during HAMP application process | 3.1 |
| I Servicer scheduled or conducted a foreclosure sale during HAMP application process | 0.3 |
| J High back-end DTI borrowers requiring counseling | 1.8 |
| K Other | 1.3 |
c. Second most frequent
| Number of respondents=392 | % |
|---|---|
| A Questions about HAMP program or application | 4.3 |
| B Difficulty contacting servicer about HAMP | 12.5 |
| C Borrower has difficulty submitting income documentation | 5.1 |
| D Servicer claims to have lost HAMP application documentation | 21.9 |
| E Servicer misapplying guidelines | 6.6 |
| F Borrower feels s/he was wrongly denied HAMP | 17.3 |
| G Borrower has been in HAMP trial modification for more than 3 months | 19.4 |
| H Servicer referred a loan to foreclosure during HAMP application process | 6.1 |
| I Servicer scheduled or conducted a foreclosure sale during HAMP application process | 3.6 |
| J High back-end DTI borrowers requiring counseling | 2.3 |
| K Other | 0.8 |
d. Third most frequent
| Number of respondents=389 | % |
|---|---|
| A Questions about HAMP program or application | 6.4 |
| B Difficulty contacting servicer about HAMP | 8.2 |
| C Borrower has difficulty submitting income documentation | 3.6 |
| D Servicer claims to have lost HAMP application documentation | 12.1 |
| E Servicer misapplying guidelines | 9.5 |
| F Borrower feels s/he was wrongly denied HAMP | 15.4 |
| G Borrower has been in HAMP trial modification for more than 3 months | 19.8 |
| H Servicer referred a loan to foreclosure during HAMP application process | 12.9 |
| I Servicer scheduled or conducted a foreclosure sale during HAMP application process | 4.6 |
| J High back-end DTI borrowers requiring counseling | 4.9 |
| K Other | 2.6 |
10. Percent who selected each response for rank 1, 2, or 3
| Number of respondents=392 | % |
|---|---|
| A Questions about HAMP program or application | 31.6 |
| B Difficulty contacting servicer about HAMP | 37.0 |
| C Borrower has difficulty submitting income documentation | 12.0 |
| D Servicer claims to have lost HAMP application documentation | 59.4 |
| E Servicer misapplying guidelines | 19.4 |
| F Borrower feels s/he was wrongly denied HAMP | 41.8 |
| G Borrower has been in HAMP trial modification for more than 3 months | 54.1 |
| H Servicer referred a loan to foreclosure during HAMP application process | 21.9 |
| I Servicer scheduled or conducted a foreclosure sale during HAMP application process | 8.4 |
| J High back-end DTI borrowers requiring counseling | 8.9 |
| K Other | 4.6 |
11. Please think about the borrower's experience with HAMP -- from the time they first inquire about HAMP to the point at which they receive a decision about whether or not they are offered a HAMP trial modification. Based on your experience as a housing counselor, how would you characterize the borrower's overall experience with HAMP?
| Did not answer question |
Very positive |
Positive |
Neither positive nor negative |
Negative |
Very negative |
No response |
Number of respondents |
|---|---|---|---|---|---|---|---|
| % | % | % | % | % | % | % | |
| 0.0 | 0.8 | 7.6 | 15.0 | 43.4 | 33.0 | 0.3 | 394 |
Please provide a brief explanation:
III. Trial Modifications
12. In your experience, typically how long does it take for borrowers to receive a decision about a HAMP trial modification from the time the borrower requests a HAMP evaluation?
| Did not answer question |
Less than 1 month |
1 to 3 months |
4 to 6 months |
7 to 9 months |
10 to 12 months |
More than 12 months |
No response |
Number of respondents |
|---|---|---|---|---|---|---|---|---|
| % | % | % | % | % | % | % | % | |
| 0.0 | 0.3 | 12.9 | 40.8 | 24.6 | 13.4 | 7.6 | 0.5 | 395 |
13. Does the length of time to receive a decision about a HAMP trial modification differ based on whether the borrower has been denied or offered a HAMP trial modification?
| Did not answer question |
YES, longer for denials |
YES, longer for offers |
No difference |
No response |
Number of respondents |
|---|---|---|---|---|---|
| % | % | % | % | % | |
| 0.0 | 18.7 | 23.0 | 51.1 | 7.1 | 395 |
14. Based on your experience, please rank the three principal reasons
for servicers taking longer than 30 days to provide borrowers with
a decision about whether or not they have been offered a HAMP trial
modification. (Enter the letter of the highest ranked reason first,
second most next, third last -- after the "Other" specify box.)
a. Borrower reports having difficulty providing
servicer with required information
b. Borrower reports that servicer has asked for
updated financial information
c. Borrower's application is complete, but borrower reports
servicer has lost documentation
d. Servicer informed borrower/counselor that it has a backlog
of HAMP applications
e. Waiting for results of NPV test
f. Servicer has not heard from investor on whether or not
they approved the modification
g. Other
If Other, please specify:
b. Highest ranked reason
| Number of respondents=390 | % |
|---|---|
| A Borrower reports having difficulty providing servicer with required information | 4.6 |
| B Borrower reports that servicer has asked for updated financial information | 28.5 |
| C Borrowers application is complete, but borrower reports servicer has lost documentation | 38.7 |
| D Servicer informed borrower/counselor that it has a backlog of HAMP applications | 22.1 |
| E Waiting for results of NPV test | 0.8 |
| F Servicer has not heard from investor on whether or not they approved the modification | 3.8 |
| G Other | 1.5 |
c. Second highest ranked reason
| Number of respondents=385 | % |
|---|---|
| A Borrower reports having difficulty providing servicer with required information | 6.5 |
| B Borrower reports that servicer has asked for updated financial information | 29.9 |
| C Borrowers application is complete, but borrower reports servicer has lost documentation | 25.7 |
| D Servicer informed borrower/counselor that it has a backlog of HAMP applications | 18.2 |
| E Waiting for results of NPV test | 2.6 |
| F Servicer has not heard from investor on whether or not they approved the modification | 15.8 |
| G Other | 1.3 |
d. Third highest ranked reason
| Number of respondents=384 | % |
|---|---|
| A Borrower reports having difficulty providing servicer with required information | 11.2 |
| B Borrower reports that servicer has asked for updated financial information | 22.9 |
| C Borrowers application is complete, but borrower reports servicer has lost documentation | 9.4 |
| D Servicer informed borrower/counselor that it has a backlog of HAMP applications | 16.9 |
| E Waiting for results of NPV test | 3.9 |
| F Servicer has not heard from investor on whether or not they approved the modification | 28.6 |
| G Other | 7.0 |
14. Percent who selected each response for rank 1, 2, or 3
| Number of respondents=391 | % |
|---|---|
| A Borrower reports having difficulty providing servicer with required information | 22.0 |
| B Borrower reports that servicer has asked for updated financial information | 80.3 |
| C Borrowers application is complete, but borrower reports servicer has lost documentation | 73.1 |
| D Servicer informed borrower/counselor that it has a backlog of HAMP applications | 56.5 |
| E Waiting for results of NPV test | 7.2 |
| F Servicer has not heard from investor on whether or not they approved the modification | 47.6 |
| G Other | 9.7 |
15. In your experience, how long are borrowers typically in trial modifications before receiving a decision about conversion to a permanent modification?
| Did not answer question |
3 months or less |
4 to 6 months |
7 to 9 months |
10 to 12 months |
More than 12 months |
No response |
Number of respondents |
|---|---|---|---|---|---|---|---|
| % | % | % | % | % | % | % | |
| 0.0 | 3.1 | 45.9 | 34.6 | 11.0 | 4.1 | 1.3 | 390 |
16. In your experience, what is the primary reason for trial modifications lasting longer than 3 months before conversion to a HAMP permanent modification?
| Did not answer question |
Borrower has difficulty providing servicer with information |
Servicer loses documentation |
Servicer informed borrower/counselor that it has a backlog of HAMP applications |
Unknown (servicer does not disclose reasons) |
Other |
No response |
Number of respon -dents |
|---|---|---|---|---|---|---|---|
| % | % | % | % | % | % | % | |
| 0.0 | 1.3 | 16.2 | 29.5 | 43.3 | 8.2 | 1.5 | 390 |
If Other, please specify:
17. One of the most common reasons for trial modification
cancellations is insufficient documentation. Please rank the
three principal challenges borrowers face in providing the
required documentation. (Enter the letter of the highest ranked
challenge first, second most next, third last -- after the
"Other" specify box.)
a. Borrowers could not provide exact documentation because
the requirements were too rigid
b. Borrowers did not know how to obtain
the required documentation
c. Documentation provided was not supportive of the stated income
used in the HAMP trial modification application
d. Servicer lost the borrower's documentation
e. Servicer continues to request borrower's
updated financial documentation
f. Other
If Other, please specify:
b. Highest ranked reason
| Number of respondents=383 | % |
|---|---|
| A Borrowers could not provide exact documentation because the requirements were too rigid | 5.2 |
| B Borrowers did not know how to obtain the required documentation | 2.6 |
| C Documentation provided was not supportive of the stated income used in the HAMP trial modification application | 4.7 |
| D Servicer lost the borrowers documentation | 33.4 |
| E Servicer continues to request borrowers updated financial documentation | 51.4 |
| F Other | 2.6 |
c. Second highest ranked reason
| Number of respondents=374 | % |
|---|---|
| A Borrowers could not provide exact documentation because the requirements were too rigid | 9.9 |
| B Borrowers did not know how to obtain the required documentation | 5.6 |
| C Documentation provided was not supportive of the stated income used in the HAMP trial modification application | 9.1 |
| D Servicer lost the borrowers documentation | 32.9 |
| E Servicer continues to request borrowers updated financial documentation | 37.4 |
| F Other | 5.1 |
d. Third highest ranked reason
| Number of respondents=343 | % |
|---|---|
| A Borrowers could not provide exact documentation because the requirements were too rigid | 19.5 |
| B Borrowers did not know how to obtain the required documentation | 10.8 |
| C Documentation provided was not supportive of the stated income used in the HAMP trial modification application | 27.4 |
| D Servicer lost the borrowers documentation | 14.6 |
| E Servicer continues to request borrowers updated financial documentation | 9.3 |
| F Other | 18.4 |
17. Percent who selected each response for rank 1, 2, or 3
| Number of respondents=384 | % |
|---|---|
| A Borrowers could not provide exact documentation because the requirements were too rigid | 32.3 |
| B Borrowers did not know how to obtain the required documentation | 17.7 |
| C Documentation provided was not supportive of the stated income used in the HAMP trial modification application | 38.0 |
| D Servicer lost the borrowers documentation | 78.4 |
| E Servicer continues to request borrowers updated financial documentation | 96.1 |
| F Other | 24.0 |
IV. Proprietary Modifications
18. Since June 1, 2010, how often does a borrower discuss with you that they were offered a non-HAMP loan modification by a servicer before being evaluated for a HAMP loan modification?
| Did not answer question |
Never |
Once or twice |
About once a month |
Two to three times a month |
Every week |
No response |
Number of respondents |
|---|---|---|---|---|---|---|---|
| % | % | % | % | % | % | % | |
| 0.0 | 22.6 | 34.5 | 13.5 | 15.2 | 8.6 | 5.6 | 394 |
19. In your experience, how do effective non-HAMP (proprietary)
loan modifications differ from HAMP modifications? Please
rank the three principal differences, if any. (Enter the letter of
the highest ranked difference first, second most next, third last
-- after the "Other" specify box.)
a. Target back-end DTI
b. Assist borrowers with front-end DTI lower than 31 percent
c. More likely to offer principal reductions
d. Fewer occupancy and property restrictions
e. Higher threshold for unpaid principal balance
f. Other
If Other, please specify:
b. Highest ranked difference
| Number of respondents=332 | % |
|---|---|
| A Target back-end DTI | 21.7 |
| B Assist borrowers with front-end DTI lower than 31 percent | 34.9 |
| C More likely to offer principal reductions | 6.3 |
| D Fewer occupancy and property restrictions | 8.4 |
| E Higher threshold for unpaid principal balance | 15.7 |
| F Other | 13.0 |
c. Second highest ranked difference
| Number of respondents=284 | % |
|---|---|
| A Target back-end DTI | 26.1 |
| B Assist borrowers with front-end DTI lower than 31 percent | 19.0 |
| C More likely to offer principal reductions | 10.2 |
| D Fewer occupancy and property restrictions | 16.9 |
| E Higher threshold for unpaid principal balance | 18.3 |
| F Other | 9.5 |
d. Third highest ranked difference
| Number of respondents=253 | % |
|---|---|
| A Target back-end DTI | 18.2 |
| B Assist borrowers with front-end DTI lower than 31 percent | 16.6 |
| C More likely to offer principal reductions | 9.5 |
| D Fewer occupancy and property restrictions | 9.5 |
| E Higher threshold for unpaid principal balance | 27.7 |
| F Other | 18.6 |
19. Percent who selected each response for rank 1, 2, or 3
| Number of respondents=334 | % |
|---|---|
| A Target back-end DTI | 57.5 |
| B Assist borrowers with front-end DTI lower than 31 percent | 63.5 |
| C More likely to offer principal reductions | 22.2 |
| D Fewer occupancy and property restrictions | 29.9 |
| E Higher threshold for unpaid principal balance | 52.1 |
| F Other | 35.0 |
20. Please provide one example of an "effective" and an "ineffective" non-HAMP (proprietary) loan modification -- including the characteristics of the modifications that made them effective or ineffective, and the servicer that offered them:
An "Effective" example:
An "Ineffective" example:
V. HAMP Denials of Trial Modifications
21. One reason for HAMP denials of requests for loan modifications has been that borrowers were ineligible because their front-end DTI was already below 31 percent. How often has this been true of the borrowers you have counseled?
| Did not answer question |
Often |
Sometimes |
Seldom |
Never |
No response |
Number of respondents |
|---|---|---|---|---|---|---|
| % | % | % | % | % | % | |
| 0.0 | 15.4 | 45.3 | 35.7 | 3.0 | 0.5 | 395 |
22. If you answered "Often" or "Sometimes" in the previous question, were there concerns about how the servicer calculated the borrower's gross monthly income for those denied a HAMP modification because their DTI was already below 31 percent?
| Did not answer question | YES - a substantial number of denials were related to miscalculationsof the borrowers' monthly gross income. (Skip to question 23.) | NO - denials were related to something other than a miscalculation of the borrowers' monthly gross income. (Skip to question 24.) | No response | Number of respondents |
|---|---|---|---|---|
| % | % | % | % | |
| 0.0 | 53.1 | 45.6 | 1.3 | 239 |
23. If you answered "YES" in the previous question,
please rank the three principal concerns with how the
servicer calculated the borrower's gross monthly income.
(Enter the letter of the highest ranked concern first,
second most next, third last -- after the "Other"
specify box.)
a. Concerns about including one or more non-borrower
(non-co-signers) incomes in the income calculation
b. Miscalculation of self-employment income
c. Concerns with unemployment and other benefit program
income inclusion
d. Miscalculating annual income (e.g., confusing bi-weekly,
semi-monthly, and weekly pay)
e. Miscalculation of overtime pay
f. Other
If you answered "Other", please specify:
b. Highest ranked concern
| Number of respondents=124 | % |
|---|---|
| A Concerns about including one or more non-borrower (non-co-signers) incomes in the income calculation | 17.7 |
| B Miscalculation of self-employment income | 25.8 |
| C Concerns with unemployment and other benefit program income inclusion | 20.2 |
| D Miscalculating annual income (e.g., confusing bi-weekly, semi-monthly, and weekly pay) | 24.2 |
| E Miscalculation of overtime pay | 4.0 |
| F Other | 8.1 |
c. Second highest ranked concern
| Number of respondents=120 | % |
|---|---|
| A Concerns about including one or more non-borrower (non-co-signers) incomes in the income calculation | 17.5 |
| B Miscalculation of self-employment income | 22.5 |
| C Concerns with unemployment and other benefit program income inclusion | 23.3 |
| D Miscalculating annual income (e.g., confusing bi-weekly, semi-monthly, and weekly pay) | 15.0 |
| E Miscalculation of overtime pay | 17.5 |
| F Other | 4.2 |
d. Third highest ranked concern
| Number of respondents=112 | % |
|---|---|
| A Concerns about including one or more non-borrower (non-co-signers) incomes in the income calculation | 27.7 |
| B Miscalculation of self-employment income | 15.2 |
| C Concerns with unemployment and other benefit program income inclusion | 17.9 |
| D Miscalculating annual income (e.g., confusing bi-weekly, semi-monthly, and weekly pay) | 16.1 |
| E Miscalculation of overtime pay | 15.2 |
| F Other | 8.0 |
23. Percent who selected each response for rank 1, 2, or 3
| Number of respondents=124 | % |
|---|---|
| A Concerns about including one or more non-borrower (non-co-signers) incomes in the income calculation | 59.7 |
| B Miscalculation of self-employment income | 61.3 |
| C Concerns with unemployment and other benefit program income inclusion | 58.9 |
| D Miscalculating annual income (e.g., confusing bi-weekly, semi-monthly, and weekly pay) | 53.2 |
| E Miscalculation of overtime pay | 34.7 |
| F Other | 19.4 |
(Optional) Please provide more detail about the highest ranked concern:
VI. HAMP Solution Center
24. Since June 1, 2010, about how many complaints have you referred to the HAMP Solution Center?
| Did not answer question |
None |
1 - 10 complaints |
11 - 25 complaints |
26 - 50 complaints |
More than 50 complaints | No response |
Number of respondents |
|---|---|---|---|---|---|---|---|
| % | % | % | % | % | % | % | |
| 0.0 | 44.7 | 41.1 | 9.6 | 1.3 | 0.8 | 2.5 | 394 |
25. Roughly, what percentage of your clients seeking HAMP modifications does this represent? (Provide whole percent up to 99)
26. How has the number of complaints you have referred to the HAMP Solution Center changed since June 1, 2010?
| Did not answer question |
Increased |
Stayed the Same |
Decreased |
No response |
Number of respondents |
|---|---|---|---|---|---|
| % | % | % | % | % | |
| 0.0 | 30.4 | 51.7 | 13.0 | 4.8 | 207 |
Please explain any increase or decrease:
27. In your experience, how effective has the HAMP Solution Center been in resolving borrower complaints concerning HAMP denials and cancellations?
| Did not answer question |
Very effective |
Effective |
Neither effective nor ineffective |
Ineffective |
Very ineffective |
No response |
Number of respondents |
|---|---|---|---|---|---|---|---|
| % | % | % | % | % | % | % | |
| 0.0 | 5.3 | 20.9 | 25.7 | 24.3 | 18.0 | 5.8 | 206 |
Please provide a brief explanation if you would like:
VII. Ways Treasury Could Improve HAMP
28. Based on your experience with HAMP, please rank the three actions
Treasury could take to improve the rate of successful modifications
(both converting to permanent HAMP modifications and maintaining
monthly payments). (Enter the letter of the highest ranked action
first, second most next, third last -- after the "Other" specify box.)
a. Target back-end DTI
b. Release of NPV model (e.g., more insight into
what NPV test results are based on)
c. Strengthen escalation process
d. Require more training for servicer representatives
e. Enforce sanctions on servicers for not complying with guidelines
(e.g., misinterpreting guidelines, taking longer than specified time)
f. Ensure that servicers work with borrowers who are not yet 60 days
delinquent (borrowers in imminent default)
g. Require servicers to make more timely decisions
h. Require servicers to send HAMP applicants a clear explanation of
how income is calculated under HAMP guidelines
i. Other
If Other, please specify:
b. Highest ranked action
| Number of respondents=392 | % |
|---|---|
| A Target back-end DTI | 3.1 |
| B Release of NPV model (e.g., more insight into what NPV test results are based on) | 16.3 |
| C Strengthen escalation process | 7.7 |
| D Require more training for servicer representatives | 11.0 |
| E Enforce sanctions on servicers for not complying with guidelines | 28.3 |
| F Ensure that servicers work with borrowers who are not yet 60 days delinquent | 8.9 |
| G Require servicers to make more timely decisions | 17.1 |
| H Require servicers to send HAMP applicants a clear explanation of how income is calculated under HAMP guidelines | 4.1 |
| I Other | 3.6 |
c. Second highest ranked action
| Number of respondents=388 | % |
|---|---|
| A Target back-end DTI | 1.0 |
| B Release of NPV model (e.g., more insight into what NPV test results are based on) | 10.3 |
| C Strengthen escalation process | 13.1 |
| D Require more training for servicer representatives | 13.4 |
| E Enforce sanctions on servicers for not complying with guidelines | 20.9 |
| F Ensure that servicers work with borrowers who are not yet 60 days delinquent | 16.5 |
| G Require servicers to make more timely decisions | 17.5 |
| H Require servicers to send HAMP applicants a clear explanation of how income is calculated under HAMP guidelines | 7.2 |
| I Other | 0.0 |
d. Third highest ranked action
| Number of respondents=381 | % |
|---|---|
| A Target back-end DTI | 3.1 |
| B Release of NPV model (e.g., more insight into what NPV test results are based on) | 9.7 |
| C Strengthen escalation process | 13.9 |
| D Require more training for servicer representatives | 12.1 |
| E Enforce sanctions on servicers for not complying with guidelines | 11.0 |
| F Ensure that servicers work with borrowers who are not yet 60 days delinquent | 16.3 |
| G Require servicers to make more timely decisions | 17.1 |
| H Require servicers to send HAMP applicants a clear explanation of how income is calculated under HAMP guidelines | 14.2 |
| I Other | 2.6 |
28. Percent who selected each response for rank 1, 2, or 3
| Number of respondents=392 | % |
|---|---|
| A Target back-end DTI | 7.1 |
| B Release of NPV model (e.g., more insight into what NPV test results are based on) | 36.0 |
| C Strengthen escalation process | 34.2 |
| D Require more training for servicer representatives | 36.0 |
| E Enforce sanctions on servicers for not complying with guidelines | 59.7 |
| F Ensure that servicers work with borrowers who are not yet 60 days delinquent | 41.1 |
| G Require servicers to make more timely decisions | 51.0 |
| H Require servicers to send HAMP applicants a clear explanation of how income is calculated under HAMP guidelines | 25.0 |
| I Other | 6.1 |
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