Tag Archives: Loan Modifications

By helping reduce foreclosures and expanding loss mitigation options, HUD’s new rule seeks to help keep more in their homes in times of economic instability.

A new report required by law under the Helping Families Save Their Homes Act of 2009, a provision of the Dodd-Frank Wall Street Reform and Consumer Protection Act, showed that the majority of loans are current, and foreclosures remain below levels recorded before the pandemic.

In order to protect millions of at-risk homeowners from foreclosure actions, the CFPB has issued a new set of rules to ensure a smooth transition as they exit forbearance plans.

Rep. Maxine Waters issues letter requesting extended foreclosure protections as moratoria are set to expire.

The CFPB has canceled seven policy statements issued last year to protect consumers facing difficulties posed by the pandemic.

Banks serviced approximately 16.9 million first-lien residential mortgage loans by the end of 2018 according to an OCC report. Click through to learn what the report revealed about loan modifications and foreclosures.

While an expanded review of its loan modification products revealed more borrowers being impacted than originally envisaged, here are some steps that the bank plans to take to remediate this error.

Wisconsin-based Fiserv, Inc., has announced an agreement with California-based CoreLogic which will reduce default risk and improve the cost and time of servicing.

The mortgage portfolio expanded by 4.5 percent—an increase of $7.14 billion—up to an estimated $1.91 trillion in December. It was the highest annualized growth rate for any one month seen in Freddie Mac's portfolio since December 2009, when it grew by 5.7 percent.

The balance of Fannie Mae's gross mortgage portfolio dropped from $436 billion in October down to $424 billion in November, marking the 52nd time in the last 53 months Fannie Mae's portfolio declined month-over-month. With the exception of December 2012, when the portfolio grew in value at a compound annualized rate of 1 percent, the value of the portfolio has declined every month since June 2010.