Tag Archives: Loan Modification

What are the mortgage issues that vex borrowers the most? Here’s what CFPB’s snapshot on mortgage complains revealed.

In its latest report, the FHFA breaks down how the Fannie and Freddie have worked to help keep struggling homeowners get current and remain in their homes.

Here’s what an OCC report on the disclosure of mortgage loan data of some of the largest banks in the U.S. revealed about the number of foreclosures initiated by them.

Click through to learn more about the efforts undertaken by Fannie Mae and Freddie Mac to help homeowners from losing their properties.

The GSEs (Fannie Mae and Freddie Mac) completed 22,411 foreclosure prevention actions in November, bringing the total to 4,013,134 since the start of the conservatorships in September 2008, according to the Foreclosure Prevention Report released by the Federal Housing Finance ...

The implementation of the settlement was successful in directing most of the consumer relief to those who needed it the most. The majority of consumer relief came in the form of mortgage loan modifications, 53 percent of which were in areas identified by the U.S. Department of Housing and Urban Development as part of Distressed Census Tracts, or Hardest Hit Areas. The settlement agreement also provided for resources to be directed to local organizations and legal assistance programs to help stabilize neighborhoods and provide foreclosure-prevention assistance and other housing-counseling activities.

Consumers sought more non-foreclosure solutions, such as loan modifications, short sales, deed in lieu, and workout plans, for January 2017. These approximated 102,000, compared to 26,000 foreclosure sales.

HOPE NOW, the voluntary, private sector alliance of mortgage servicers, investors, mortgage insurers and non-profit counselors, has released its July 2016 loan modification data.

Housing counseling as a resource to reduce the need for loan modification and foreclosures has been shown to be very beneficial since the housing crisis, but is there still more housing counseling can do to further impact homeowners?

David G. Marowske recently spoke with DS News about cases in which borrowers are trying to force servicers into accepting a loan modification.