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He said Treasury was “troubled” by reports that servicers had done things like foreclose on homeowners who were potentially eligible for relief under the government’s Home Affordable Mortgage Program, lost documents or claimed to have done so and even steered troubled homeowners away from available assistance.
“None of this is acceptable,” Geithner said, adding that Treasury was doing “targeted, in-depth compliance reviews” to make sure that servicers were acting in good faith.
“In circumstances where servicers are not compliant we will withhold incentives or demand their repayment,” he said, referring to fees that servicers earn through the HAMP program by helping homeowners adjust their loan payments so that
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