Friday, August 14, 2009

ACORN Targets HAMP Noncompliance

Posted on the Housing Wire by Austin Kilgore:

The Association of Community Organizations for Reform Now (ACORN) announced it’s targeting servicers it says aren’t complying with the guidelines of the Making Home Affordable Modification Program (HAMP) in its latest protest campaign.

In the first phase of ACORN’s “Home Wrecker” campaign, it used demonstrations in cities nationwide to protest servicers who hadn’t signed on to HAMP, targeting what it called the “Home Wrecker Four” — OneWest, Litton Loan Services, American Home Mortgage and HomEq — which all eventually signed onto the program.

In phase two, ACORN said it will use the same protesting techniques to target servicers who it claims are continuing foreclosure proceedings on HAMP-eligible borrowers.

ACORN will organize protests in Los Angeles, Dallas, Wilmington and New York City, and the campaign may be expanded it include protests in Lansing, Houston, Hartford, Seattle and Little Rock.

While it conducts its protests, ACORN said it will also work with servicers to develop strategies to improve the program’s effectiveness.

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