On July 24, the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) released its quarterly report to Congress, which, among other things: (i) summarized various SIGTARP investigations and (ii) discussed the rising redefaults of mortgages modified pursuant to HAMP. SIGTARP Report.
SIGTARP
Joint Task Force on HAMP Mortgage Modification Scams
On December 1, SIGTARP, the Consumer Financial Protection Bureau, and Treasury created a joint task force to deal with scams targeted at homeowners seeking HAMP modifications. The joint task force issued a fraud alert which will be provided directly to homeowners eligible for HAMP. Treasury Release. Consumer Fraud Alert.