HAMP Roster Adds HomEq

Posted by Orb Staff on August 12, 2009 No Comments
Categories : Mortgage Servicing

servicers, including Barclays' HomEq Servicing unit, have been [link=http://financialstability.gov/docs/transaction-reports/transactions-report_08112009.pdf][u]admitted[/u][/link] into the Home Affordable Modification Program (HAMP). HomEq is joined by Warsaw, Ind.-based Lake City Bank and Oakland, Calif.-based Oakland Municipal Credit Union. HomEq's incentive cap is $674 million, Lake City Bank's is $420,000 and Oakland Municipal CU's is $140,000. Also on the HAMP front, Pasadena, Calif.-based [link=http://www.onewestbank.com][u]OneWest Bank[/u][/link] FSB, which acquired the IndyMac portfolio, says it will implement HAMP across its entire loan portfolio. OneWest will apply HAMP to all of the eligible loans that it owns, as well as all eligible loans that it services for third parties. As part of its agreement with the Federal Deposit Insurance Corp. (FDIC), OneWest has modified nearly 15,000 loans under the regulator's Mod-in-a-Box program since March. Also since March, 3,600 loans serviced on behalf of the government-sponsored enterprises have been modified according to HAMP guidelines, the bank says. From September 2008 through February 2009, over 16,000 borrowers had their loans modified under the FDIC and other modification programs. SOURCE: [link=http://financialstability.gov/docs/transaction-reports/transactions-report_08112009.pdf]FinancialStability.gov[/link], [link=http://www.onewestbank.com]OneWest Bank[/link]

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