Proprietary Modification Activity Rises
A mild month-over-month bump was recorded for residential loan modifications that were done through mortgage servicers' own proprietary programs.
VA Replaces HAMP
The Department of Veterans Affairs has outlined the terms of a new program to replace its VA Home Affordable Modification Program.
Foreclosure Error Cost BofA $46 Million
A federal bankruptcy judge has ordered Bank of America Corp. to pay $46 million for proceeding on a foreclosure despite a bankruptcy stay.
4-Month High for Mortgage Loan Modifications
Servicers of residential loans granted borrowers more favorable terms on their mortgages than on their original contracts at a pace that was the strongest in four months.
Up Tick in Annual HAMP Volume as Proprietary Down
Although overall loan modification volume was down in 2016, an increase was recorded for the government-supported program.
Ocwen Reaches $225 Million Settlement With CA
A $225 million settlement with the state of California resolves a consent order that was reached in early 2015 with an Ocwen Financial Corp. unit.
HAMP Modification Volume Increases
The government's program for modifying home loans saw a month-over-month rise as well as a year-over-year increase in volume.
HAMP Tab Reaches $23 Billion
Government funds used to pay for the Home Affordable Modification Program have reached nearly $23 billion as the program neared its sunset.
HAMP Volume Up from Year Ago
While monthly loan modification volume slowed, there was a year-over-year increase for government-supported modifications.
Drop in Loan Modifications Driven by Proprietary
A month-over-month decline in loan modifications completed was driven by proprietary activity. Government-supported modifications saw a year-over-year gain.