March 17 (Bloomberg) — The Obama administration is inflating the success of programs that prevent foreclosures by skewing data on loan modifications and revising the goals, according to House Republicans.
Reports on the Home Affordable Modification Program are “glossing over disappointing results” by counting temporary changes toward the goal of permanent relief for as many as 4 million borrowers, said a letter sent yesterday to Treasury Secretary Timothy F. Geithner by Republican representatives Darrell Issa and Jim Jordan.
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