Servicers to Get $15B for Loan Mods
By Brian Collins
Washington-The Obama administration is moving quickly to launch its $75 billion loan modification program, allotting nearly $15 billion to 14 mortgage firms to cover incentive payments for them, investors and homeowners.
However, one analyst pointed out that the funding is by no means pure profit. "They will incur a great deal of costs to do these loan mods," said the analyst, requesting anonymity.
To read the entire article, visit Mortgage Servicing News' Web site.
