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    Subject Term: "Fair lending"

    1 publication with a total of 1 open recommendation
    Director: Mathew Scirè
    Phone: (202) 512-8678

    1 open recommendations
    Recommendation: To improve monitoring and oversight of Treasury's HAMP, the Secretary of the Treasury should conduct periodic evaluations using analytical methods, such as econometric modeling as appropriate, to help explain differences among MHA servicers in redefault rates that may inform its compliance reviews of individual servicers, identify areas of weaknesses and best practices, and determine the potential need for additional program policy changes.

    Agency: Department of the Treasury
    Status: Open

    Comments: As of the Second Quarter 2017, Treasury continues to monitor and report on the performance of Home Affordable Modification Program (HAMP) permanent loan modifications on a cohort basis (year loan was modified) and by other drivers of performance (payment reduction, credit score and delinquency status at time of modification, etc.). Additionally, Treasury officials stated that they monitor default rates by servicer on a monthly basis. However, they stated that they have not performed econometric analyses of redefault rates by individual servicer. By not capitalizing on the information these methods provide, Treasury may miss opportunities to identify individual servicer best practices that retain the greatest number of eligible borrowers.