| Loss Mitigation |
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| This is a summary of all our web pages related to LOSS MITIGATION. If you need a product or service that does not appear here, please contact us by phone or email.
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Click here if you want to modify your loan! |
| Home Affordable Modification Program | ||
| The US Treasury will partner with financial institutions to reduce homeowners’ monthly mortgage payments. The lender will have to first reduce payments on mortgages to no greater than 38% Front-End Debt-to-Income (DTI) ratio. Treasury will match further reductions in monthly payments dollar-for-dollar with the lender/investor, down to a 31% Front-End DTI ratio for the borrower. |
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| Peoples Choice Links New Link | |
| 09/09 | Making Home Affordable Program On Pace To Offer Help To Mill |
| 08/18 | Mortgage Servicers List docstoc.com/docs/6326711/MORTGA |
| 08/18 | Home Affordable Refinance Program (HARP) efanniemae.com |
| 08/17 | Increasing Foreclosures Swallow Modest Gains in Mortgage Rep |
| 08/17 | Home Affordable Modification Program Guidelines ustreas |
| 05/26 | Default Servicing News dsnews.com/ |
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Loss Mitigation/Loan Modification News |
| •Commercial Mortgage - Update - Free Lender / Modification Specialist Search The Federal Government recently issued a Policy Statement regarding the restructuring of commercial mortgage debt. While this is not the same type of program or edict as on the residential side it has provided both motivation and guidance for all banks as to how, when and under what circumstances commercial real estate loans should be modified. -- Commercialmortgageinfo.net,CommercialMortgageInfo.net,Boca Raton Fl 02/09/2010 •House Committee to Investigate Obama`s Modification Program The House Committee on Oversight and Government Reform has launched an official investigation into the federal government's foreclosure prevention program. According to a statement from the head of the committee, the probe was triggered by complaints that servicers have been slow and inconsistent in modifying loans under the Making Home Affordable (MHA) program, and are not communicating clearly with eligible homeowners. -- DSNews.com,Admin, 02/09/2010 •Chase Denied Loan Mods for Now Forbidden Reason—Homeowners in Limbo On the Saturday before Thanksgiving, Lesa Herron of Santa Rosa, Calif., opened a letter from Chase Home Finance [1] (PDF). She’d been denied a permanent modification under the federal government’s loan-mod program, Chase said, because “Your hardship is not of a permanent nature.” -- Eye on the Bailout,Mike Webb, 02/08/2010 •Fifth Third Mortgage Company Sees Success in Mortgage Modifications The comprehensive Home Affordability and Stability Plan, introduced by the Obama administration in March 2009, was created in hopes of providing refinance and modification options for millions of homeowners. So far, though, that hasn't been the case. However, Fifth Third Mortgage Company, a financial services company headquartered in Cincinnati, Ohio and a subsidiary of Fifth Third Bank, says it has done its part to help homeowners stay in their homes. -- DSNews.com,Admin, 02/08/2010 •FTC Rule Bans Up-Front Fees for Modifications The Federal Trade Commission has proposed a new rule that would prohibit third parties, including loan modification specialists and loss mitigation attorneys, from collecting payment for foreclosure prevention services until after they obtain a documented offer from a lender or servicer for a modification or other form of mortgage relief. -- DSNews.com,Admin, 02/08/2010 •FTC proposes rule to bar loan mod companies from charging upfront fees The Federal Trade Commission (FTC) moved to protect distressed homeowners from the promoters of bogus foreclosure rescue and mortgage modification services by proposing a new rule that would forbid companies to charge upfront for these services. Instead, companies could only collect payment after providing services. -- NationalMortgageProfessional.com,NMP Media Services, 02/05/2010 • FTC Proposes Rule That Would Bar Mortgage Relief Companies From Charging Up-Front Fees The Federal Trade Commission moved to protect distressed homeowners from the promoters of bogus foreclosure rescue and mortgage modification services by proposing a new rule that would forbid companies to charge up-front for these services. Instead, companies could only collect payment after providing services. -- Federal Trade Commission,Evan Zullow,Washington 02/05/2010 • Fifth Third Mortgage Company Government Modification Conversion Rate Near 35 Percent Modification rate more than four times national average -- Fifth Third Bank,Whitney Ellis,Cincinnati 02/05/2010 •GSEs Report Increase in Refinance Volumes, HAMP Modifications in December The Federal Housing Finance Agency's (FHFA) recently released its monthly Foreclosure Prevention Report, which summarized foreclosure prevention data for Fannie Mae and Freddie Mac through October 2009 and included Home Affordable Modification Program (HAMP) modification data and refinance data through December 2009. -- DSNews.com,Admin, 02/02/2010 •Senior Managing Director Appointed at Clayton Holdings Raymon A. Redlingshafer was recently named senior managing director of Clayton Holdings, LLC, a provider of customized risk analysis, loss mitigation, operational solutions, and staffing services to the mortgage industry, according to an announcement Thursday by the Shelton, Connecticut-based company. -- DSNews.com,Admin, 01/29/2010 |