**GAO-11-288**                      Published: Mar 17, 2011. Publicly Released: Mar 17, 2011.                  

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## Highlights

 

Two years after the Department of the Treasury (Treasury) first made available up to $50 billion for the Making Home Affordable (MHA) program, foreclosure rates remain at historically high levels. Treasury recently introduced several new programs intended to further help homeowners. This report examines (1) the status of three of these new programs, (2) characteristics of homeowners with first-lien modifications from the Home Affordable Modification Program (HAMP), and (3) the outcomes for borrowers who were denied or fell out of first-lien modifications. To address these questions, GAO analyzed data from Treasury and six large MHA servicers.

 

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## Topics

Financial Markets and Institutions

Data integrityDatabasesDocumentationEligibility criteriaForeclosuresHomeowners loansHousing programsLessons learnedModificationsMortgage loansMortgage programsPerformance measuresProgram evaluationLiensProgram implementation