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Mortgage Performance Holding Strong – DSNews

High performance of first-lien mortgages and declining foreclosure activity spelled a healthy servicing market for the first quarter of 2016 and a decreasing need for new loss-mitigation actions, according to the Office of the Comptroller of the Currency’s (OCC) newest quarterly report on mortgages.   The report showed that 95 percent of mortgages at the

FHA Makes Enhancements to Distressed Loan Sales Program – DSNews

“FHA is deeply committed to protecting struggling homeowners and making certain they have the greatest opportunities to avoid foreclosure and remain in their homes.” Ed Golding, Principal Deputy Assistant Secretary, HUD.   HUD announced on Thursday that is making the most significant improvements to date for its Distressed Asset Stabilization Program (DASP) that include requiring

Ctrl Alt Delete: CFPB says Mortgage Servicers Need Technological Reboot | Burr & Forman – JDSupra

The Consumer Financial Protection Bureau (CFPB) released a special edition of its supervision report, honing in on mortgage servicers on June 22nd[1]. It blamed outdated technology and process breakdown for trends it has seen with violations of the CFPB’s 2014 servicing rules. The primary areas of concern are communications and data related to loan modifications

CFPB Rules Establish Strong Protections for Homeowners Facing Foreclosure | Consumer Financial Protection Bureau

WASHINGTON, D.C. — On January 17, 2013 the Consumer Financial Protection Bureau (CFPB) issued rules to establish new, strong protections for struggling homeowners facing foreclosure. The rules also protect mortgage borrowers from costly surprises and runarounds by their servicers. “For many borrowers, dealing with mortgage servicers has meant unwelcome surprises and constantly getting the runaround.

FHFA: Here’s What HAMP Borrowers Facing Resets Can Do – DSNews

Fannie Mae and Freddie Mac have offered several possible solutions for borrowers who received modifications through the government’s Home Affordable Modification Program (HAMP) who are facing increased monthly payments when the interest rates on their modifications reset, according to the FHFA’s 2015 Annual Report to Congress released on Wednesday. The government launched HAMP in February 2009
IMPORTANT: The text in this website and product(s) sold on this website do not substitute for legal advice. Nor does the text substitute for real estate, financial, tax, bankruptcy or other professional advice. Loan Modification Key® and its owner(s) cannot and do not guarantee results from any lender or servicer. Loan Modification Key® and its owner(s) do not represent any loan modification program or governmental program. Loan Modification Key® and its owner(s) do not represent any government agency. The text herein represents information, opinion and expertise gathered in the last several years' experience in the mortgage industry. Loan Modification Key® is a non-profit 501 (c)(3) tax-exempt organization.
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