WASHINGTON — House Republicans are taking aim at four of the administration's foreclosure-prevention programs, arguing that they have failed to help many homeowners and are a waste of time and money.

Though the GOP has been critical in the past, House Financial Services Committee Chairman Spencer Bachus said Thursday that he plans to move quickly to terminate the programs, including the much-maligned Home Affordable Modification Program, or Hamp.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.