WASHINGTON – The Treasury Department added two more mortgage servicers to its qualified list of participants in its Home Affordable Modification Program, or HAMP.
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The two new participants are Lake National bank and IBM Southeast Employees FCU, the third credit union approved for the program. The others are Wescom Central CU and Technology CU. All three credit unions are in California.
Through HAMP, servicers receive and distribute incentive payments to borrowers and lenders/investors for modifications initiated and successfully maintained
IBM Southeast will receive up to $870,000 and Lake National Bank up to $100,000 and in initial incentive payment caps, under the program.
