Faith Schwartz, formerly executive director of Hope Now, testified before the Congressional Oversight Panel that the government's Home Affordable Modification Program helped clear the way for a private loan-modification effort to succeed. "The HAMP road map set the stage for servicers to better apply solutions for distressed borrowers who failed to meet the HAMP requirements," Ms. Schwartz said. She said that the program has been harshly criticized for not reaching projected goals. "This criticism is not entirely accurate. HAMP has played an important role by helping to organize the participants and process in the loan-modification effort and instituted a loan-modification protocol that would have been difficult to mandate in any other way." Watch a video of the hearing. Read the full testimony from Ms. Schwartz.