House accepts some HAMP amendments, returns to finish votes this evening

The House accepted a Republican amendment from Rep. Quico Canseco (R-Texas) to ensure that money saved would go to deficit reduction, and an amendment from Rep. Maxine Waters (D-Calif.) that would require Treasury to send a letter to HAMP applicants saying they will not be considered because the program has been terminated.

The House also accepted language from Rep. Loretta Sanchez (D-Calif.) that adds a sense of Congress that banks are encouraged to work with homeowners to provide loan modifications for qualifying owners.

But the House voted down Democratic amendments to outline how many modifications the program had achieved, require Treasury to study the program and try to implement a new one based on that study, list the modifications in each state that won't be able to benefit from HAMP, and require lenders and services participating in the HAMP program to continue to publicly report loan modification information.