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Trends in HAMP Litigation  


Author:  Thomas M. Schehr.; Jared D. Kemper.


Source: Volume 28, Number 03, January/February 2015 , pp.60-64(5)




Journal of Taxation and Regulation of Financial Institutions

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Abstract: 

Litigation involving the Home Affordable Modification Program (HAMP) has steadily increased since the creation of the program by the Department of the Treasury in 2009. Borrowers have alleged a number of creative causes of action under HAMP against mortgage servicers, but most courts have rejected the claims because HAMP does not create a private right of action. That said, HAMP continues to be a hotly litigated issue. This article addresses recent developments in HAMP litigation across the country.

Keywords: Home Affordable Modification Program (HAMP); loan modification; litigation; foreclosure; Trial Period Plan (TPP)

Affiliations:  1: Dykema; 2: Dykema.

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