HUD Predicts HAMP Re-Default Rates to be 'Significantly Lower' Than Expected

"As efforts continue to mend millions of defaulted mortgages through the government's Home Affordable Modification Program (HAMP), Shaun Donovan, secretary of the Department of Housing and Urban Development (HUD), told REO Insider that re-default rates on mortgages modified under the program will be “significantly lower” than what market commentators have predicted."