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.
Monthly Loan Modifications Increase
Loan modifications rose on a year-over-year basis, though a month-over-month slump was recorded for government-supported modifications.
Mortgage Modifications Rise from Year Earlier
Despite a month-over-month decline in the volume of permanent loan modifications completed, activity accelerated from a year earlier.
Ocwen Mortgage Modifications Double
The volume of government-supported loan modifications at Ocwen Loan Servicing has recently doubled and is expected to remain robust.