Making Home Affordable
The Mortgage Loan Modification Plan
We're tracking where the bailout money is going. Our lead bailout reporter – and blogger – is ProPublica's . Lead developer is .
- Our frequently updated database tracks every dollar. In the scorecard, we provide a summary generated from the latest numbers.
- Our bailout recipient list tracks the companies to which Treasury has committed money.
- In the bailout map, we track bailout recipients by state.
A program under the Emergency Economic Stabilization Act
125 recipients
$29.91 billion promised
$1.94 billion actually invested, loaned, or spent
More info from www.financialstability.gov
The administration's plan to stem foreclosures will provide incentives and payments to mortgage lenders and homeowners to promote mortgage loan modifications and other foreclosure alternatives (like short sales). The list of recipients below shows the allotment to each participating servicer, but some of that money will also go to lenders and borrowers. The Treasury has set aside a total of $29.9 billion.
You can see a breakdown of how many modifications each servicer has granted here. To see how much money has gone to each servicer, click on its name below.
Originally, the Treasury set aside $50 billion for this program, but it reduced that amount over time, and finally in October, 2010, it set the final amount.
On top of the $29.9 billion, the program also calls for Fannie Mae and Freddie Mac to spend as $25 billion more in costs for loans that the companies own or guarantee, costs that will ultimately be absorbed by the Treasury.
ProPublica's Loan Mod Project: We’ve been reporting on the Obama administration’s loan modification program, and we want to hear from homeowners who are applying for one. Tell us your story.
More info from www.financialstability.gov
Go to list of all initiatives and programs
For our blog, resources and more, see our main bailout page.
The following list shows the 125 recipients of Making Home Affordable.