President Obama’s signature effort to mitigate the nation’s foreclosure crisis, the Home Affordable Modification Program (HAMP), was established with the goal of providing mortgage relief for three million to four million homeowners facing foreclosure in the wake of the subprime mortgage crisis.

Today, more than 18 months since Treasury rolled out the program, HAMP is not living up to the administration’s promises. Even more troubling, it may be causing additional burdens for homeowners already facing default.

The evidence of failure is plain:

HAMP has failed to meet the administration’s own projections.

Full story is available on The Wall Street Journal