The Obama administration’s Home Affordable Modification Program is on target to prevent only 700,000 foreclosures, not the 4 million the Treasury Department originally estimated when it introduced the program, according to a Congressional Oversight Panel report issued Tuesday.

The report, the second in eight months on the government’s foreclosure prevention efforts, found that while Treasury has “tweaked” its program, the main problems thwarting HAMP’s success remain.

The panel also noted that because Treasury’s authority to restructure HAMP ended  Oct. 3, prospects that the troublesome issues will be resolved and that the program will improve substantially in the future are small.

The report also noted that the Treasury Department has “failed to hold loan servicers accountable when they have repeatedly lost borrower paperwork or refused to perform loan modifications.”