US mortgage foreclosure surge and HAMP homeowner modification program (2007–2012)

1. HOPE NOW alliance formed for foreclosure avoidance

   Oct 10, 2007Labels: HOPE NOW, Mortgage servicers, Counseling groups

   • HOPE NOW
   • Treasury TARP

2. Housing and Economic Recovery Act becomes law

   Jul 30, 2008Labels: HERA, Federal Housing, Congress

   • FHFA Conserv
   • HERA LoC

3. FHFA places Fannie Mae and Freddie Mac into conservatorship

   Sep 6, 2008Labels: FHFA, Fannie Mae, Freddie Mac

   • FHFA Conserv
   • Fed 2008

4. Emergency Economic Stabilization Act creates TARP

   Oct 3, 2008Labels: EESA, TARP, Congress

   • Fed EESA
   • CRS TARP

5. Obama administration announces Making Home Affordable plan

   Feb 18, 2009Labels: Making Home, HAMP, Obama administration

   • Treasury PR
   • MHA Treas

6. Treasury issues HAMP guidelines and begins modifications

   Mar 4, 2009Labels: Treasury, HAMP guidelines, Mortgage servicers

   • Treasury PR
   • MHA Wiki

7. Treasury starts public monthly reports on servicer performance

   Aug 4, 2009Labels: Treasury, Servicer Performance, Mortgage servicing

   • Treasury PR

8. HAFA foreclosure-alternative program takes effect

   Apr 5, 2010Labels: HAFA, Treasury, Short sale

   • Day Pitney
   • MHA Wiki

9. Dodd-Frank Act becomes law amid foreclosure fallout

   Jul 21, 2010Labels: Dodd-Frank Act, Consumer Financial, Congress

   • Congress Dodd
   • Treasury TARP

10. Foreclosure filings reach record level in 2010

    Dec 31, 2010Labels: RealtyTrac, Foreclosure filings, U S

    • BizJournal
    • HousingWire

11. National Mortgage Settlement announced with major servicers

    Feb 9, 2012Labels: National Mortgage, Mortgage servicers, State attorneys

    • USFN NMS
    • DOJ PR

12. National Mortgage Settlement becomes binding by consent judgment

    Apr 5, 2012Labels: Consent judgment, National Mortgage, Federal court

    • USFN NMS

13. HAMP expands with “Tier 2” modification option

    Jun 1, 2012Labels: HAMP Tier, Treasury, Modification pathway

    • MHA Wiki
    • MHA Treas

14. HAFA ends as crisis-era foreclosure response matures

    Dec 31, 2012Labels: HAFA, Foreclosure response, Treasury

    • Day Pitney
    • MHA Wiki