Tag Archives: Loan Modification

A Mexican national living in Wichita, Kansas, was sentenced for fraudulently obtaining a mortgage modification loan through the Home Affordable Modification Program (HAMP), which is funded by the government's Troubled Asset Relief Program (TARP), Special Inspector General for TARP (SIGTARP) Christy Romero announced recently.

The nation's serious delinquency rate on single-family mortgage loans for August was the lowest it has been in six years, according to Fannie Mae's August 2014 Monthly Summary released earlier this week.

A panel of experts at the Servicing Lab at the Five Star Conference on Tuesday agreed that in order for loss mitigation to be effective in 2014 and heading into the future, servicers must find new and inventive ways to execute.

Foreclosure prevention counselors have saved homeowners millions of dollars annually, according to a recent study by the Urban Institute for NeighborWorks America.

New business acquisitions totaled just less than $40 billion throughout the month, a nearly 12 percent rise over June and the strongest month for new business since last November, the mortgage giant reported.

The Consumer Financial Protection Bureau (CFPB) issued guidance Tuesday aimed at making it easier for surviving family members who have inherited a property due the death of a loved one to be added to the mortgage, allowing them to seek modification or refinance and avoid foreclosure.

HOPE NOW, a voluntary, private sector alliance of mortgage servicers, investors, mortgage insurers, and non-profit counselors, released a press release Thursday outlining its loan modification data from 2013. In total, 768,000 homeowners received loan modifications from HOPE NOW in 2013.

ShortSave, Inc., announced Tuesday a new application aimed at shortening the time for a one-lien short sale or loan modification transaction. The average short sale takes 165 days, a time period ShortSave anticipates being able to cut to a paltry 36 days. The application is projected to save a non-performing note investor $1,200-1,800 in lost interest on an average loan.

Fannie Mae’s book of business shrank in December, ending a short streak of growth and marking the eighth month of 2013 in which business slowed.

According to Freddie Mac's December volume summary, the GSE's total mortgage portfolio grew at an annualized rate of 0.4 percent for the month, bringing 2013's average rate to -2.6 percent. The portfolio grew in four out of last year's 12 months and shrank in eight, including a streak of declines from July through November. As of the end of the year, the portfolio was valued at approximately $1.91 trillion.