The Treasury Department has directed the 20 largest Home Affordable Modification Program (HAMP) servicers to establish "relationship managers" who will provide a single point of contact for homeowners seeking a loan modification.

Servicers "must establish and implement a process through which borrowers who are potentially eligible for the Home Affordable Modification Program" are assigned a relationship manager by September 1, according to a supplemental directive Treasury issued late Wednesday.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.