AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
Scratch & Dent Expert Skeptical About Mods.
Byline: Ted Cornwell
Santa Ana, CA-While many advocates of streamlined loan modifications are scratching their heads over data showing a high "redefault" rate on modified loans, one industry insider isn't all that surprised.
Some executives, including John Daurio, CEO of Kondaur Capital, are skeptical about the prospects for mass loan modifications. Kondaur, a buyer and servicer of scratch-and-dent loans based in Santa Ana, Calif., pioneered "Combat Loss Mitigators," whereby a single collection specialist handles every stage of the resolution of each loan.
Mr. Daurio is more pessimistic than some about the prospects for a housing market recovery, predicting that nationally home prices will fall another 20% to 30% under pressure from rising unemployment and a weakening economy. He still believes the country faces two to three more years of falling home values before markets stabilize.
Already, he noted that in addition to high "redefault" rates on modified loans, many borrowers are defaulting on products such as pay-option loans before they adjust to become fully amortizing. In other words, they are defaulting before their monthly payment adjusts upward.
Rather than ditching the loan contracts and modifying the loans to make them more affordable, he believes refinancing borrowers who can afford to stay in their homes into more affordable loan ...
- Santa Ana fumes that businesses inside its borders claim Costa Mesa as home.
- News wire article from: Knight Ridder/Tribune News Service Hardesty, Valeria Godines And Greg December 16, 1999 700+ words
SANTA ANA, Calif. _ Crime is way down in Orange...are livid that some businesses near the Santa Ana-Costa Mesa border claim the latter...Sunflower Avenue, raised the ire of Santa Ana city officials last week. Letters were...
- Santa Ana To Hold A Reopening in July.(Final)
- Newspaper article from: Albuquerque Journal (Albuquerque, NM) June 8, 2002 700+ words
...heard by now about the troubles at the Santa Ana Golf Club. During the spring, a few...originals regain their luster. On June 15, Santa Ana plans to ditch the temporary surfaces...this comprehensive cosmetic surgery, Santa Ana has to try and heal scars the public...
- Santa Ana Needs a Good Spin Doctor.(West Side Journal)
- Newspaper article from: Albuquerque Journal (Albuquerque, NM) June 4, 2002 700+ words
...heard by now about the troubles at the Santa Ana Golf Club. During the spring, a few...originals regain their luster. On June 15, Santa Ana plans to ditch the temporary surfaces...this comprehensive cosmetic surgery, Santa Ana has to try to heal scars the public can...
- Santa Ana, Calif., Libraries at Mercy of City's Budget.
- News wire article from: Orange County Register (Santa Ana, CA) May 7, 2001 700+ words
...But when Lilly Dang, 17, dug into Santa Ana's library, she only came up with books...while studying at the Newhope branch in Santa Ana. "They have more resources there and...examined city library budgets in Anaheim and Santa Ana because about 28 percent of the county...
- Santa Ana Not Done With Boxing.(West Side Journal)
- Newspaper article from: Albuquerque Journal (Albuquerque, NM) July 15, 2003 700+ words
...keep seats filled The events center at Santa Ana Star Casino has been awfully quiet these...months. There hasn't been a concert at Santa Ana since February. There hasn't been...s allure has run its course on the Santa Ana Pueblo, says the property's director...
- Santa Ana, California. (Supplement: Corporate Relocation)
- Magazine article from: Orange County Business Journal December 16, 1991 700+ words
...designated as the county seat, the City of Santa Ana is in the center of one of the fastest...advocates on behalf of business owners. Only Santa Ana offers as wide and as beautiful a variety...and industrial space and styles. Only Santa Ana is as centrally located with excellent...
- Retool and revitalize: The Santa Ana Chamber of Commerce's remarkable...
- Magazine article from: Employee Benefit News June 15, 2003 700+ words
...Aerospace Fasteners, located in towns like Santa Ana. The good news is that over the past...economic base. The bad news is that Santa Ana was not part of this trend, losing one...the county's job marketshare. Though Santa Ana has the second largest cluster of small...
- Celebrating Santa Ana pottery's artistry, longevity.(Final)
- Newspaper article from: Albuquerque Journal (Albuquerque, NM) March 8, 2005 700+ words
...traces the evolution of pottery styles at Santa Ana Pueblo from the Pueblo Revolt to the...stunning examples of ancestral pottery from Santa Ana, is curated by Museum of Indian Arts...known 20th-century developments at Santa Ana that shaped the pottery making there...
- Santa Ana May Get State Loan.(Final)
- Newspaper article from: Albuquerque Journal (Albuquerque, NM) July 27, 2003 700+ words
...its economic development enterprises. Santa Ana Pueblo, located just north of Albuquerque...pay off the Wells Fargo loan and save Santa Ana an estimated $7 million annually in loan payments. Santa Ana would pay an estimated 6 percent interest...
- PCA Industries LLC and Santa Ana Plating Announce Intent to Merge.
- Press release article from: Business Wire October 4, 2004 700+ words
...and Motorcycle Industry PCA Industries LLC and Santa Ana Plating today announced plans to merge, forming...locations and names (PCA Industries in Fullerton and Santa Ana Plating in Santa Ana, Calif). In joining forces, PCA Industries...
Source: HighBeam Research, Scratch & Dent Expert Skeptical About Mods.