Sentences with phrase «loan modification efforts»

To date, all loan modification efforts have been voluntary.

The U.S. Treasury singled out CitiMortgage Inc., telling the bank it needed to make «substantial improvement» in its loan modification efforts through the Home Affordable Modification Program and to reach out to more home owners who are eligible to receive assistance.

Both Bank of America (BAC) and JPMorgan (JPM) are attempting to help hundreds of thousands of troubled homeowners with massive loan modification efforts.

Loan modification efforts have temporarily modified many mortgages, but many of these mortgages could go back into default.»

Until the conflict between first and second lien holders is resolved, loan modification efforts and mortgage write - down programs will likely be met with very limited success.

In addition, regulators require proof that loan modification efforts address borrowers» financial problems and not simply delay loan loss recognition.

Not exact matches

On the heels of a letter sent by the federal government to step up the mortgage loan modification process, mortgage servicers met with officials from the Obama administration and provided assurance to improve efforts to modify mortgage loans for struggling homeowners facing foreclosure.

Encouraged by loan modifications and other efforts to manage mortgage payment problems, regulators began encouraging lenders and borrowers to work together to head off any issues before they festered and borrowers began to miss payments.

The new mortgage loan modification program looked to address a critical component in its efforts to stem the foreclosure crisis.

REALTORS ® believe the best opportunity to reduce costs to taxpayers and assist in the stabilization of housing values and neighborhoods is to respond more effectively to, and provide more resources for, pre-foreclosure efforts such as loan modifications and short sales.

Those enforcement efforts, backed by California's first - in - the - nation law making it illegal to collect upfront fees for loan modifications, are credited with largely — although not entirely — quelling the problem.

In a letter sent to FHFA on September 15, 2011, NAR emphasized the need for mortgage financing for qualified purchasers and expansion of resources for loan modification, refinancing and short sale efforts.