As federal programs to help underwater borrowers are phased out, government agencies want the mortgage industry to pick up where it left off to help troubled homeowners avoid foreclosure. They suggested that future programs be accessible, affordable, sustainable, transparent and have sufficient accountability. The Federal Housing Finance Agency, Department of Treasury, and the Department of Housing and Urban Development released a report this week that discussed what future loss mitigation programs should look like and lessons learned. The Home Affordable Modification Program and related federal initiatives will sunset at the end of 2016. “With the formal end of the crisis-era programs, the mortgage servicing industry will shoulder...