This story appeared in Bank Digest.
The Special Inspector General for the Troubled Asset Relief Program has issued a report finding that homeowners continue to face barriers when their mortgages are transferred to another servicer. In addition, the report states that homeowner complaints have increased about Home Affordable Modification Program problems caused by servicing transfers. Some of the complaints include lost or delayed HAMP applications; failure to process or honor HAMP modifications; and transferee services that may misapply or miscalculate payments. The report also looked at Treasury's oversight of HAMP mortgage servicing transfers, indicating that Treasury has not reported any problems in this area.