Treasury shields HAMP dollars away from AG settlement
"Structuring the AG settlement credits this way makes it more of an additive for principal reduction," Kingsley said. "This way, more borrowers could potentially receive some form of reduced principal."
Mortgage servicers will not be able to use principal reduction tax dollars under the Home Affordable Modification Program as "credits" toward the foreclosure settlement with the government, a Treasury official said.
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Published By: HousingWire - Wednesday, 22 February