Articles tagged with Loan Modification

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KNBC TV Examines Sketchy Mortgage Rescue Company

Last night KNBC TV in Los Angeles aired a report about a “foreclosure rescue” company that is under investigation by the FBI. The … more…

Watchdog Report Throws Cold Water on Treasury Loan Mod Celebration

Every month, the Treasury Department gives an update on its $50 billion mortgage modification program. We’ve posted the latest … more…

Frustrated Homeowners Turn to Media, Courts

Qualified homeowners are being routinely denied loan modifications through the Obama administration’s Making Home Affordable plan, … more…

The Foreclosure ‘Rescue’ Boom on Marketplace

Last week, we published a story examining the boom in “foreclosure rescue” companies, firms that promise — in exchange for a large … more…

The Secret Test That Ensures Lenders Win on Loan Mods

“NPV Test: Failed.”

That was the red-lettered verdict on the computer screen of a CitiMortgage negotiator in June. The result: … more…

How Are Those Loan Mods Coming? Sept. Edition

Five months into the government’s $75 billion loan modification program, less than 12 percent of eligible homeowners have seen … more…

Ex-Countrywide Execs’ Firm Modifies Bad Loans for Taxpayer Cash

Among the servicers participating in the government’s mortgage modification program is a new recruit that’s not like the others. … more…

Subprime Companies Line Up for Gov’t Mortgage Plan

The government’s foreclosure prevention plan is premised on the idea that the best way to prevent foreclosures is to work with … more…

While Debt Mounts, Couple Chases BofA Loan Mod

Bank of America is the biggest mortgage servicer in the business. And judging by Treasury Department data, its customers searching … more…

Bankruptcy Judges, Justice Dept. Rip Mortgage Companies

“Systemic abuse.” “Extraordinary incompetence.” “Reckless.”  In a growing body of legal cases, judges and the Justice Department … more…

Bundled Mortgages Pose Problems for Housing Program

This story was co-produced with Marketplace.

Seventy-year-old Barbara Harris can’t help crying when she walks around her … more…

Lawsuits Claiming Abuse Mount for Gov’t Mortgage Partners

The mortgage companies that the administration is relying on to help stop foreclosures have records of preying on homeowners, … more…

Treasury’s Loan Mod Progress Report: Read the Fine Print

As we noted this morning, leading mortgage servicers participating in the government’s loan modification program have been … more…

How Many Modifications Has Your Mortgage Servicer Started?

We’ve posted the data showing the number of trial modifications each mortgage servicer has started under the government’s … more…

Treasury Launches Shame Offensive Against Mortgage Servicers

Today, the Treasury Department released data (PDF) showing how each of the mortgage servicers participating in the … more…

Do Loan Servicers Profit From Not Modifying?

As we noted Monday, there’s been plenty of theorizing this week as to why the government’s foreclosure prevention program isn’t … more…

TARP Adds Millions for Bank Bailouts, Billions for Loan Mods

The Treasury Department doled out another $87.7 million in bailout funds to four banks last Friday. The largest amount, $50 … more…

At Meeting, Servicers Agree to Boost Mortgage Mods

On Tuesday, administration officials met with representatives from the loan servicers participating in the federal mortgage … more…

Why Isn’t the Gov’t Mortgage Program Working?

Those readers who’ve followed our coverage of the administration’s mortgage modification program know that progress has been slow. … more…

Treasury Department Considering More Aid to Struggling Homeowners

We’ve heard of rent-to-own, but some troubled homeowners might have to go the other way around. The Treasury Department is … more…