WASHINGTON, DC-The government-altered mortgages included under the Home Affordable Modification Program (HAMP) are doing worse than previously estimated according to a new Treasury Department report.
An HAMP report released last month highlighted the decline in redefault rates of mortgages under the program. However, the administration retracted the report's findings when industry analysts found discrepancies in the figures. The modified report shows that 15% of modified mortgages were delinquent for 90 days or more. For the full story, go to the Wall Street Journal.
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