in News > Mortgage Servicing
print the content item


An estimated 81,351 homeowners received permanent loan modifications from mortgage servicers during February, a 6% increase from January, according to new data from HOPE NOW. The February total of 81,351 loan modifications brings the total number of permanent loan modifications since 2007 to 6.23 million.

During February, 65,965 homeowners received proprietary loan modifications, and 15,386 homeowners received Home Affordable Modification Program modifications.

"More than 158,000 loan modifications have been completed in the first two months of 2013, and outreach to at-risk homeowners by the industry, nonprofits, government agencies and others remains proactive," says Eric Selk, executive director of HOPE NOW. "These results are a testament to the hard work being done on behalf of the nation’s homeowners. There are more options than ever before and the goal is to offer viable, realistic and sustainable solutions."


Hutchens_id1364


Latest Top Stories

CFPB Fines Flagstar Bank $37.5 Million For Mortgage Servicing Violations

In a statement, Richard Cordray, director of the CFPB, says the action taken against Flagstar "signals a new era of enforcement to protect consumers against the cost of servicer runarounds."


Castro: It's 'Too Hard' For Most Americans To Get A Mortgage

Many borrowers, Castro said during the Bipartisan Policy Center 2014 Housing Summit, "are ready to own, but are being left out in the cold," mainly because mortgage lenders have tightened their credit policies.


Virginia Sues 13 Banks For $1.15B Over Faulty RMBS

Virginia is suing 13 banks, including Citigroup, Bank of America and Goldman Sachs, for $1.15 billion over claims the institutions misled the state's retirement system about the sale of faulty RMBS.


Freddie Mac: Great Year So Far For Apartment Construction

Construction of condominium complexes is "scant," at least in comparison to 2006, and single-family construction is just "chugging along," Freddie Mac reports.


'Access To Affordable Mortgages Act' Introduced In The House

Rep. Blaine Luetkemeyer, R-Mo., recently introduced the Access to Affordable Mortgages Act, which aims to exempt certain higher-risk loans from property appraisal requirements under the Truth in Lending Act.

Urban Lending_id1351
Hse SandyHook
Industry Resource
Play for Pink
Safeguard_id1322
SWBC_id1313