2009-11-30 — mortgagenewsdaily.com
The Wall Street Journal and others are quoting Michael S. Barr, assistant secretary for financial institutions who directs the HAMP program, as saying that banks are not doing a good enough job. "Some of the firms ought to be embarrassed and they will be. They're not getting a penny from the federal government until they move forward," Mr. Barr said. According to Barr, the government will publicly identify lenders and servicers who are not performing under the program and that they will be particularly focusing on those companies that are not doing a good job.
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