Relevant:
- Data shows Nationstar Approves Loan Modifications at Much Lower Rate than Big Banks
- 20 percent re-default rate seen on hamp modifications
- Bank of America Delinquent Loans Mean RMBS Losses: Mortgages
- Bank of America's "Tasmanian Devil" says we shouldn't be thinking of our homes as "assets".
- MBS yields have dropped below 4.0%, and mortgage rates are likely to follow them down (tho not that far).
2009-12-01 — bnet.com
"As mentioned above, the federal program, HAMP, has 650,000 modifications in the works. The lenders that have been the most expeditious in introducing their 60-day or longer delinquent loans to the program are: Aurora Loan Services (33 percent); giant CitiMortgage (40 percent); GMAC Mortgage (35 percent); JPMorgan Chase (32 percent); Nationstar Mortgage (32 percent); and Saxon Mortgage (44 percent).The laggards are Bank of America, Ocwen and One West, all with participation below the 20 percent average. "
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Comments:
mortgagemess at 08:28 2009-12-02 said:
That is because OneWest Bank, formerly Indymac Bank is practicing "cherry picking" on loan modifications. Great article... http://www.associatedcontent.com/article/2402244/are_lenders_cherry_picking_loan_modifications.html?cat=3 Permalinkadd a comment | go to forum thread
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