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Tag Archives: Loan Modification

Kansas Man Sentenced for HAMP Fraud

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.

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CFPB Issues Ruling to keep Heirs from Falling into Foreclosure

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.

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HOPE NOW Completes 768,000 Modifications

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.

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New App Looks to Hasten Short Sale Process

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.

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