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Tag Archives: Loan Modifications

MHA Report Shows Ocwen Leader in HAMP Programs

Ocwen Financial Corporation recently announced that according to the recently released U.S. Department of the Treasury MHA Report, they are the leader in helping struggling homeowners stay in their homes through HAMP.

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Slowing Loan Mods, Liquidations Even Out

The improved credit quality of mortgage loans originated post-crisis has resulted in fewer delinquencies and defaults, which in turn has resulted in a substantial decline in loan modifications industry-wide.

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Bank of America is Well Ahead of Pace to Fulfill Settlement Obligation

The majority of the amount credited in the second quarter ($1.7 billion) went to modification of 9,671 loans. Another $186 million of the amount credited in Q2 went to extend 16,231 new home loans to borrowers in HUD-designated hardest-hit areas, borrowers who lost their homes to short sales or foreclosures, and low- and moderate-income borrowers.

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CFPB Complaint Report Cites Problems With Loan Mod Process

Ambiguity and/or delays in the loan modification process were a frequent subject of the complaints, while others said they were not considered for all loss mitigation options available, they were incorrectly denied a modification, or the terms of the modification were unfavorable.

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