The government's three TARP watchdogs testified before the Senate Finance Committee Wednesday and continued to criticize the government's  much-maligned mortgage modification program.

The complaints about the Home Affordable Modification Program came just a day after the Treasury Department released its latest statistics regarding its progress. Last month, the number of borrowers booted from the program was 40,000 higher than the number of borrower who were granted permanent modifications.

Elizabeth Warren, who chairs the Congressional Oversight Panel, said that homeowners needed a program with "far more urgency." She said that for every one family that has received a permanent modification, 10 have been put through the foreclosure process.

"This is a program that's just behind the curve," said Warren, who has previously grilled Treasury officials on the subject of HAMP during her panel's hearings. She suggested that loan servicers are dragging their feet on implementing the program because sometimes they stand to gain more from a foreclosure than a modification.

Neil Barofsky, Special Inspector General for the Troubled Asset Relief Program, called Treasury's stated goal of wanting to offer 3 to 4 million modifications "meaningless." He said that unless Treasury "comes clean" and offers some serious goals and expectations of how many people will be helped by HAMP, taxpayers will conclude that the program is an "outright failure."

Barofsky also repeated findings from another report discussing inconsistent treatment of companies that were negotiating the re-purchase of the stock warrants they issued to the government in connection with their TARP aid.

Some were given more insight than other into what prices Treasury was willing to accept. He urged Treasury to be more transparent in that process.

"Transparency isn't just for transparency's sake," Barofsky said. "It makes programs better. It makes them more credible."

Warren reiterated her warning of a coming commercial real estate crisis for banks that have heavy concentrations in those fields, and she touched on problems that small banks may have in exiting TARP. Both were subjects of recent COP reports.

Barofsky repeated criticisms from his office's recent reports on auto dealership closures.

He said it was important that Treasury start acknowledging its mistakes. "Those are words we don't hear," Barofsky said. "We never hear any acknowledgment that they are fallible, that they are human."