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