Audits

Data on Treasury’s Home Affordable Modification Program Show Homeowners May Be Vulnerable to Current Economic Conditions

SIGTARP recommends that Treasury complete an assessment to determine the extent to which current economic conditions, particularly increased inflation and essential living costs, are impacting HAMP homeowners. SIGTARP also recommends that Treasury take action, within its authority, to address any findings from its assessment that indicate economic conditions are impacting HAMP homeowners and increasing the risk that the program will not achieve its goal of preventing avoidable foreclosures.

“

With so many homeowners relying on EESA housing programs to stay in their homes during a pandemic, it is critical for these programs to operate at their best and without any fraud, waste, or abuse.

”

- Special Inspector General Goldsmith Romero

SIGTARP audits TARP programs to prevent fraud and abuse, identify wasteful spending, and drive improvements. We ensure these programs are effective and efficient at achieving the U.S. Treasury Department's goals, including neighborhood stabilization and homeownership preservation.

When our team of forensic auditors and evaluators find a program may be at risk, they get to work reviewing documents, interviewing and analyzing. After an audit confirms waste, abuse, or fraud, SIGTARP looks for ways to recover taxpayer dollars and mitigate the risk by leveraging best practices and our extensive knowledge of TARP. We then issue recommendations to the U.S. Treasury Department, which we share with Congress and the public.

TARP programs include:

The Hardest Hit Fund

Unemployment assistance to 19 states
Demolition of abandoned homes to stabilize neighborhoods

Home Affordable Modification Program

Lower homeowner interest rates through contracts to pay mortgage servicers

Data on Treasury’s Home Affordable Modification Program Show Homeowners May Be Vulnerable to Current Economic Conditions

With so many homeowners relying on EESA housing programs to stay in their homes during a pandemic, it is critical for these programs to operate at their best and without any fraud, waste, or abuse.

Analysis of SIGTARP’s Issued HAMP and HHF Recommendations

Engagement Memorandum – Evaluation of SIGTARP’s Findings and Recommendations on EESA Housing Programs (EVAL-018)

Treasury Can Take Steps to Enhance Its Oversight of the Home Affordable Modification Program

Many Homeowners Using the Largest Mortgage Servicers in Treasury’s Home Affordable Modification Program Are At Risk of Losing Their Homes

Data on Treasury’s Home Affordable Modification Program Show Homeowners May Be Vulnerable to Current Economic Conditions

Engagement Memorandum – Evaluation of Treasury’s Oversight of the Home Affordable Modification Program

Engagement Memorandum – Evaluation of Servicers in the Home Affordable Modification Program

Engagement Memo - Evaluation of HAMP Homeowners