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ยป VISIT US ONLINE @ DSNEWS.COM HAMP ACTIVITY SLIDES, HAFA HOLDS STEADY The government's Home Affordable Modification Program (HAMP) continues to add borrowers to its roster each month, but the pace slowed. Data released last month by Treasury and HUD shows 19,940 permanent HAMP mods were granted during March. That's down 10 percent from the 22,263 permanent mods completed in February and down 45 percent from 36,432 in March 2011. Raphael Bostic, HUD assistant secretary, says fewer borrowers fall behind on their mortgages these days. "We're making important progress in providing relief to homeowners under the Obama administration's programs," Bostic said. As of late March, there were 794,748 borrowers in active permanent HAMP modifications, and 76,218 of these also had payments reduced on a second lien or the lien extinguished entirely through the Second Lien Modification Program (2MP) of the government's mortgage relief effort. Bostic notes that in addition to HAMP modifications, homeowners find relief under the Home Affordable Refinance Program (HARP). Nearly half a million families took advantage of HARP, standing to save an average $2,500 a year, Bostic explained. Though he described these efforts as providing "significant positive benefits," Bostic followed with an appeal to lawmakers to help improve program results. "[W]e are asking the Congress to approve the President's refinancing proposal so that more homeowners can receive assistance," he said. While HAMP activity slowed, other government-assisted foreclosure alternatives held fairly steady. During March 2012, 4,486 homeowners received a short sale or deed-in-lieu of foreclosure through the Home Affordable Foreclosure Alternatives Program (HAFA). There were 4,340 HAFA deals put in place the month before and 5,447 a year earlier in March 2011. To date, servicers completed a total of 40,252 HAFA transactions. Our Experience Sets Us Apart. For 25 years, Metro-West has provided high-quality valuation services for the residential real estate community. We are the largest independent STAFF appraisal firm in the nation NOT affiliated with a bank or an AMC. Since day one, we have remained steadfast in our commitment to quality and strive to uphold our strong reputation, which is supported by an A+ rating with the Better Business Bureau. By implementing our two-tier review process, the Metro-West team of 130+ state-certified appraisers is committed to providing the highest quality-controlled reports in the industry. Our new Appraiser Referral Progam: Refer an appraiser and receive $500! Learn more at www.metrowestappr.com 27