Green Tree, Carrington Join MHA

Posted by Orb Staff on April 30, 2009 No Comments
Categories : Mortgage Servicing

re servicers have signed a contract to participate in Making Home Affordable (MHA). St. Paul, Minn.-based Green Tree Servicing has an investment cap of $156 million under the program. That total includes incentives that Green Tree is eligible to receive as well as payments on behalf of borrowers. Also, Carrington Mortgage Services LLC, headquartered in Greenwich, Conn., has signed on for a contract that could total $195 million, according to a [u][link=http://www.smartmoney.com/news/on/?story=ON-20090429-000900-1715]Dow Jones report[/link][/u]. In its report on the first 100 days under the Obama administration, the Treasury Department says that between loans covered by these servicers and loans owned or securitized by Fannie Mae or Freddie Mac, more than 75% of all loans in the country are now covered by the MHA. SOURCES: Treasury, Dow Jones CORRECTION: This item was corrected on May 1. The cap on incentives available to Green Tree was corrected and changed $159 million to $156 mi

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