GSE Mods Target Owner Payments

Collins, Brian
August 2009
Mortgage Servicing News;Aug2009, Vol. 13 Issue 7, p6
The article reports on the increase of government-sponsored enterprises' (GSEs) use of loan modifications in the U.S. It notes that more than half of the completed modifications resulted in a 20% reduction in the mortgage payments of borrowers. The federal banking regulators discover that these modifications have high default rate if the payments are not lessened by more than 10%.


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