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:
Bank of America Might Outsource Loan Modifications.
Washington-Urban Settlement Services of Pittsburgh, a loan modification specialist, is talking to Bank of America and Fannie Mae about possible contracts, according to one executive close to the vendor.
At press time, USS executives Jim Smith and Charles Sanders had not returned telephone calls about the matter. It is unclear how large the contract might be or how many delinquent residential loans could be involved.
"It's a deal where Bank of America and Fannie will use them to perform loan modifications," said the source.
BoA inherited a huge portfolio of delinquent subprime, alt-A and home-equity loans last summer when it bought Countrywide Financial Corp. of Calabasas, Calif.
Little is known about USS, though the company has rented booth space at several mortgage ...
- REP. MAXINE WATERS HOLDS A HEARING ON "LOAN MODIFICATIONS: ARE MORTGAGE...
- News wire article from: Political/Congressional Transcript Wire February 25, 2009 700+ words
...HOLDS A HEARING ON "LOAN MODIFICATIONS: ARE MORTGAGE SERVICERS...COMPTROLLER, LARGE BANK SUPERVISION, OFFICE...FOR LOSS MITIGATION BANK OF AMERICA MOLLY SHEEHAN...for this hearing on "Loan Modifications: Are Mortgage Services...
- Loan modifications could hinder subprime pool performance.
- Newspaper article from: Asset Securitization Report Pyburn, Allison May 7, 2007 700+ words
...rating agencies are advocating for loan modifications in lieu of foreclosures, some say loan modifications will only delay inevitable defaults...pools that limit the proportion of loan modifications. And Standard & Poor's...
- Loan modifications--at the forefront: the growing demand for loan modifications...
- Magazine article from: Mortgage Banking Marx, Jason R. January 1, 2009 700+ words
...process. This has made loan modifications a more palatable...are now looking to loan modifications as a first--line...by Indymac Federal Bank, Pasadena, California...DTI) ratio. With loan modifications taking on a more...
- Push Underway for U.K. Loan Modifications.(Global Report: Feature)
- Newspaper article from: Asset Securitization Report March 2, 2009 700+ words
...Colomer Little has been done by way of loan modifications in the troubled U.K. RMBS sector...announced that it would make loan modifications on a case-by-case basis to minimize...upcoming rate resets. The suite of loan modifications has been applied on a case-by...
- Sustainable loan modifications: the Obama administration's new...
- Magazine article from: Mortgage Banking Fitzgerald, George June 1, 2009 700+ words
...perhaps more to come--with regard to loan modifications. Fannie Mae, Freddie Mac and the...industry. Yet, the failure rate on loan modifications has been so high that questions continue...Of course, for some borrowers, loan modifications provide the necessary "shot in the...
- Fitch: New U.S. RMBS Criteria Reflects Greater Use of Loan Modifications.
- Press release article from: Business Wire June 4, 2007 700+ words
NEW YORK -- Increased usage of loan modifications as a loss mitigation tool may cause...affordable to the borrower. Though loan modifications are an important servicing tool for...has long been of the opinion that loan modifications are an important part of a mortgage...
- Panelists reject mandatory loan modifications.(Discussion)
- Newspaper article from: Asset Securitization Report Sibayan, Karen May 21, 2007 700+ words
...YORK - Borrowers would benefit from loan modifications that are implemented properly. While...modifications. The whole premise of loan modifications is to allow the servicer to exercise...exacerbate losses. He believes that loan modifications should always result in a "net win...
- Loan modifications--making the case to advance technology.(Download...
- Magazine article from: Mortgage Banking Minton, Gabe December 1, 2008 700+ words
...modification. In a healthy market, loan modifications would usually be an exception, because...for consumers and lenders alike, loan modifications have increased and are likely to...terms of the size and magnitude of loan modifications that are being done, most industry...
- Loan modifications hard to get: but plenty of homeowners keep calling law, real...
- Magazine article from: San Diego Business Journal Randolph, Ned May 4, 2009 700+ words
...Battiata cautions that loan modifications are only for those...But ... the banks are not going to...homeowners who seek loan modifications, most end up defaulting...University. "Banks aren't writing...modified loan. "The bank is saying, 'If...
- Study reports on loan modifications, repayment plans initiated in 3Q.(Briefing...
- Magazine article from: Mortgage Banking March 1, 2008 700+ words
...president of research. "The numbers of loan modifications, negotiated repayment plans established...It is likely that the number of loan modifications for subprime ARMs [adjustable...there were approximately 13,000 loan modifications and 90,000 repayment plans established...
Source: HighBeam Research, Bank of America Might Outsource Loan Modifications.