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The objectives of this audit are to determine the status of HAMP and what challenges have been faced in HAMP's implementation. Specifically, we will answer the following questions:
What is the status of HAMP, and has the program met its goal for participation thus far?
What challenges have confronted and continue to confront Treasury in implementing the program?
SIGTARP will issue separate reports on HAMP's internal controls and on servicers' compliance with Treasury's net present value test, and will soon announce additional audit work on HAMP's compliance program.