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The Home Affordable Modification Program, also known as H.A.M.P., is a federal program of the United States, set up to help eligible home owners with loan modifications on their home mortgage debt. It is being set up in the context of the ongoing subprime mortgage crisis in the debt markets, continuing from 2008. The target of the program is 7 to 8 million struggling homeowners at risk of foreclosure by working with their lenders to lower monthly mortgage payments. On February 10, 2009, Timothy Geithner, then-Treasury Secretary, announced the Financial Stability Plan, which included helping families and individuals who are struggling with home foreclosure.〔Timothy Geithner, "Secretary Geithner Introduces Financial Stability Plan," Department of the Treasury, Press Center, Press Release, February 10, 2009, http://www.treasury.gov/press-center/press-releases/Pages/tg18.aspx.〕 H.A.M.P.〔Department of the Treasury, "Making Home Affordable: Home Affordable Modification Program (HAMP)," Financial Stability Initiative, TARP, http://www.treasury.gov/initiatives/financial-stability/TARP-Programs/housing/mha/Pages/hamp.aspx〕 is part of the Making Home Affordable program,〔Treasury, "Making Home Affordable: Program Purpose and Overview," http://www.treasury.gov/initiatives/financial-stability/TARP-Programs/housing/mha/Pages/default.aspx.〕 which was established, alongside the Hardest Hit Fund program in February 2010 for the Obama Administration's overall housing plan,〔Treasury, "Housing," Initiative, TARP, http://www.treasury.gov/initiatives/financial-stability/TARP-Programs/housing/pages/default.aspx; "Hardest Hit Fund: Program Purpose and Overview, Department of the Treasury, Financial Stability, TARP, http://www.treasury.gov/initiatives/financial-stability/TARP-Programs/housing/hhf/Pages/default.aspx; and "Hardest Hit Fund: Program Purpose and Overview, Department of the Treasury, Financial Stability, TARP, http://www.treasury.gov/initiatives/financial-stability/TARP-Programs/housing/hhf/Pages/Program-Purpose-and-Overview.aspx〕 on March 4, 2009〔"Relief for Responsible Homeowners: Treasury Announces Requirements for the Making Home Affordable Program," Treasury, Press Center, Press Release, March 4, 2009, http://www.treasury.gov/press-center/press-releases/Pages/200934145912322.aspx.〕 in the Treasury under the Troubled Asset Relief Program (TARP) - a part of the October 3, 2008 law, Emergency Economic Stabilization Act of 2008.〔Treasury, "Housing," Initiative, TARP, http://www.treasury.gov/initiatives/financial-stability/TARP-Programs/housing/pages/default.aspx; and Emergency Economic Stabilization Act, Public Law 110-343, 122 Stat. 3765, October 3, 2008, http://www.gpo.gov/fdsys/pkg/PLAW-110publ343/html/PLAW-110publ343.htm〕 The program was built as collaboration with lenders, investors, securities, mortgage servicers, the FHA, the VA, FHLMC, FNMA, and the Federal Housing Finance Agency, to create standard loan modification guidelines for lenders to take into consideration when evaluating a borrower for a potential loan modification.〔http://www.makinghomeaffordable.gov〕 ==Purpose== HAMP is authorized by sections 101 and 109 of the Emergency Economic Stabilization Act of 2008, which has been amended by section 7002 of the American Recovery and Reinvestment Act of 2009 (collectively "The Acts").〔(【引用サイトリンク】url=https://www.hmpadmin.com/portal/programs/docs/hamp_servicer/servicerparticipationagreement.pdf )〕 Congress has several enumerated purposes under the Acts. The main purpose is to provide the U.S. Treasury Department with the authority and mechanisms necessary to restore stability to the United States' financial system—which includes—(1) protecting home values, college funds, retirement accounts, and life savings, (2) preserving homeownership, (3) promoting jobs and economic growth, and (4) protecting the interests of taxpayers. 〔(【引用サイトリンク】url=http://www.gao.gov/new.items/d11433.pdf )〕 As a result of the authority it received under the Acts, the U.S. Treasury Department developed HAMP.〔(【引用サイトリンク】url=https://www.hmpadmin.com/portal/programs/docs/hamp_servicer/mhahandbook_32.pdf )〕 Under HAMP, mortgage servicers (Mortgage servicer refers to financial institutions which are paid a fee to service a loan for an investor. example: Joes bank and trust 'services' loans for Fannie Mae and in return receives payment for the service being provided) are provided with guidelines to which they must adhere. Financial institutions follow the guideline set by the Federal Government (the U.S. Treasury), to modify homeowners' mortgage loans in a particular and uniform fashion and receive incentive payments in return.〔(【引用サイトリンク】url=https://www.hmpadmin.com/portal/programs/hamp.jsp )〕 In an attempt to require mortgage servicers to modify mortgages in a particular and uniform fashion, the U.S. Treasury has taken several actions. First, the U.S. Treasury not only describes HAMP and its related programs on its own publicly accessed website (www.hmpadmin.com), but also provides a step-by-step guide on how mortgage servicers are supposed to perform the HAMP modifications.〔(【引用サイトリンク】url=https://www.hmpadmin.com/portal/programs/docs/hamp_servicer/hampchecklistverified.pdf )〕 For example, in the ''HAMP Handbook for Servicers of Non-GSE Mortgages'', the U.S. Treasury requires these servicers to ''actively'' solicit borrowers to participate in HAMP ''before'' referring a loan to foreclosure or conducting a scheduled foreclosure sale.〔(【引用サイトリンク】url=https://www.hmpadmin.com/portal/programs/docs/hamp_servicer/mhahandbook_32.pdf )〕 Second, the U.S. Treasury requires servicers to use a particular net present value calculation developed specifically for HAMP ("HAMP NPV").〔(【引用サイトリンク】url=https://www.hmpadmin.com/portal/programs/docs/hamp_servicer/npvoverview.pdf )〕 The HAMP NPV was developed specifically for HAMP by a group of experts taken from the U.S. Treasury, the Federal Deposit Insurance Corp., the Federal Housing Finance Agency, Fannie Mae, and Freddie Mac.〔 The HAMP NPV attempts to predict whether the lender/investor will make more money by modifying the mortgage or foreclosing.〔 Under HAMP, if the lender will make more money entering into a HAMP modification with the borrower (resulting in a positive HAMP NPV)—and assuming the mortgage loan is otherwise eligible under HAMP (which is discussed below)—the lender must offer a HAMP modification and cease all current efforts to foreclose.〔(【引用サイトリンク】url=https://www.hmpadmin.com/portal/programs/docs/hamp_servicer/hampchecklistverified.pdf )〕 However, if the lender will lose more money entering into a HAMP modification with the borrower (resulting in a negative HAMP NPV), the lender may proceed with foreclosure.〔 Thus, under HAMP, lenders and/or mortgage servicers are required to make a conscious and calculated determination as to whether the pursuit of a foreclosure will be financially beneficial for the lender/investor ''before'' the foreclosure is actively pursued—which presumptively should result in fewer foreclosures—thereby providing more stability to the U.S. economy and achieving the purpose intended by the United States Congress. 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「Home Affordable Modification Program」の詳細全文を読む スポンサード リンク
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