The HAMP NPV Model: Development and Early Performance 1 The foreclosure crisis that began in 2008 triggered the need for standardized tools to evaluate distressed mortgages as candidates for modification. A key component of the Obama Administration's Home Affordable Modification Program (HAMP) was the development of a standardized Net Present Value (NPV) model to identify troubled loans that were valueenhancing candidates for payment-reducing modifications. This paper discusses the development of the HAMP NPV model, its purpose, and the constraints that dictated its structure and limitations. We describe the structure and the estimation of the model in detail. Furthermore, we describe the responsiveness of the model to key characteristics, such as loan to value and credit score and provide new evidence on the relationship between HAMP modification performance and key borrower and modification characteristics. The paper concludes with a discussion of model limitations and suggestions for further refinement of the model.

The HAMP NPV Model: Development and Early Performance 1 The foreclosure crisis that began in 2008 triggered the need for standardized tools to evaluate distressed mortgages as candidates for modification. A key component of the Obama Administration's Home Affordable Modification Program (HAMP) was the development of a standardized Net Present Value (NPV) model to identify troubled loans that were valueenhancing candidates for payment-reducing modifications. This paper discusses the development of the HAMP NPV model, its purpose, and the constraints that dictated its structure and limitations. We describe the structure and the estimation of the model in detail. Furthermore, we describe the responsiveness of the model to key characteristics, such as loan to value and credit score and provide new evidence on the relationship between HAMP modification performance and key borrower and modification characteristics. The paper concludes with a discussion of model limitations and suggestions for further refinement of the model.

We are in a climate emergency, but governments are reacting too slowly. Grassroots collective action is needed to create political pressure. Those attempts would be much aided by understanding the psychological factors that dispose people to engaging in collective climate action. However, the extant research has several limitations. These include scant causal evidence of which factors trigger action, a lack of focus on the climate crisis itself, a way of measuring action that mostly uses self-report or intentions rather than objectively measured participation, and, finally, the use of mostly cross-sectional studies (rather than longitudinal). Here we undertake a longitudinal study on the effectiveness of an intensive 12-week video intervention designed to increase collective action on the climate crisis using a pre-post within-subjects design. Before and after the intervention, we will measure the psychological predictors identified in previous work, such as collective efficacy. Using a regression model, we strengthen the links between changes in these predictors and changes in both objective and self-reported activist behavior. [Key results and interpretation will go here].

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