HAMP Doomed To Fail, Says IMF

The International Monetary Fund says faulty design of the U.S. Department of Treasury’s Home Affordable Modification Program doomed it to failure.

  • 10 Apr 2012

The International Monetary Fund says faulty design of the U.S. Department of Treasury’s Home Affordable Modification Program doomed it to failure. The IMF, in an article in one of its publications, cited limited incentives for parties to participate and strict eligibility criteria for borrowers.

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Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 5,997 17 15.40
2 Citi 4,679 16 12.02
3 Lloyds Bank 3,158 6 8.11
4 Bank of America Merrill Lynch (BAML) 3,104 10 7.97
5 Morgan Stanley 3,066 8 7.88

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1 Citi 69,310.90 231 10.40%
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3 Wells Fargo Securities 51,322.59 157 7.70%
4 Bank of America Merrill Lynch 50,413.91 166 7.56%
5 Credit Suisse 47,114.03 149 7.07%