On Monday, the Treasury Department decided it was time to get tough with mortgage lenders who have been participating with the government’s program to help people modify their loans to more affordable rates so they have a better chance on keeping their homes and being able to pay their mortgage for awhile, but aren’t giving up the funds.

What they announced is that they will be sending people in to see just what these lenders are doing. They’re starting with the top 8, with plans on checking on everyone else as they can. They’re also going to publish a list of all 71 lenders to show who’s getting the job done and who isn’t. My thought is that even those who are at the top of the list won’t be considered by most of us to be doing a good job.

The lenders have said that most of the people coming in either aren’t completing the paperwork, aren’t doing it properly, or aren’t doing it at all. Lenders, on the other hand, supposedly have completed more than 1/3rd of completed applications, but haven’t heard back on whether they’ve been approved or not. That information also comes from the Treasury.

In health care, if people are giving incomplete information, there are others who are able to help them complete that information. This happens when people are trying to apply for Medicaid or other types of financial assistance. If incomplete paperwork is really the issue, and if the lenders care about receiving the government money, they would have some people ready to help these people out.

Is what the Treasury is about to do a good thing? I’m not quite sure, but it seems necessary in the wake of the criticism that’s coming about because of another plan that’s not working the way it was intended, for whatever reason. One can only hope that someone will end up doing the right thing in the end, whether it’s the lenders or the government cutting these lenders off.