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Regulator Sees Big Jump in GSE Loan Modifications.

Mortgage Servicing News

| March 01, 2009 | COPYRIGHT 2009 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Washington-Modifications of loans owned or guaranteed by Fannie Mae and Freddie Mac were up 50% in the first two months after regulators seized control of the government-sponsored enterprises.

The Federal Housing Finance Agency said mortgage servicers modified 5,600 GSE loans in October and 8,291 in November. The November figure was 68% higher than the monthly average for the previous 10 months of 2008.

The FHFA also measures the "loss mitigation ratio," which rose to its highest level since June. In November, total loss mitigation activities, including payment plans, delinquency advances, loan ...

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Source: HighBeam Research, Regulator Sees Big Jump in GSE Loan Modifications.

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