Four Servicers Sign HAMP Contracts

ew servicers have been added to the Treasury's Making Home Affordable program, according to the department's latest TARP transaction report. MorEquity Inc. in Evansville, Ind.; PNC Bank NA in Pittsburgh; Farmers State Bank in West Salem, Ohio; and ShoreBank in Chicago have signed contracts and are now eligible to receive incentive payments for modifications performed under the Home Affordable Modification Program (HAMP). Of the four new entrants, MorEquity and PNC stand to receive the highest incentive amounts – $23.48 million and $54.47 million, respectively. ShoreBank can receive up to $1.41 million, and Farmers State Bank can get up to $170,000. SOURCE: FinancialStabil

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