Newly Released Housing Scorecard

Certainly, the Housing Scorecard released by the Departments of Treasury and Housing and Urban Development (HUD) is important to anyone in the mortgage industry, like Dustin DiMisa of the Intercontinental Capital Group.  The latest Scorecard for August which was just released shows that home prices are slowly increasing and that foreclosures are decreasing.

The Housing Scorecard includes the monthly report on Making Home Affordable Program (MHA) data.  MHA has received a great deal of criticism because of the performance of its mortgage services.  Both the Treasury and HUD have been trying to improve the servicer performance and they’ve enlisted Freddie Mac as a compliance agent for this program.

This new division as part of Freddie Mac is called the MHA-Compliance (MHA-C) and evaluated servicers based on three criteria.

As Treasury Assistant Secretary for Financial Stability Tim Massad said, “These assessments provide an unprecedented level of information about servicer performance and are designed to help more eligible homeowners walk away from this process with better results.”