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HSH.com: Will Hamp standards address its failure?

By Michele Lerner. The National Consumer Law Center (NCLC) recently released a review of the federal government's Home Affordable Modification Program (HAMP)...called for lawmakers to release modification standards for mortgage servicers nationwide.

January 17, 2013

Richard Green, director of the University of Southern California (USC) Lusk Center for Real Estate in Los Angeles, says that while he is sympathetic to some of the report's recommendations, some of the report's recommendations are simply unworkable.

"Maybe it would be a good idea to have uniform national standards, but first you would have to find a way to standardize all the existing state laws that apply to mortgages such as recourse and non-recourse states," says Green.

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Link: HSH.com