The Obama Administration released the first edition of its monthly housing scorecard that tracks housing market indicators as well as efforts by the Federal Housing Administration (FHA) and the Making Home Affordable programs to prevent foreclosures.
The monthly report (download here) is an aggregate of housing initiative reports, including the most recent Home Affordable Modification Program (HAMP) numbers, which showed that servicers completed 47,700 permanent modifications in May, down approximately 30% from the 68,100 completed in April. Since the program launched in March 2009, a total of 340,459 modifications have gone permanent and are active through the program, or approximately 11.3% to 8.5% of the projected 3m to 4m modifications the program is expected to generate by its expiration in December 2012.
