Industry News

Loan servicers say more subprime borrowers getting help

Survey estimates 2007 foreclosure sales totaled 509,000
Published on Feb 7, 2008

Watch Connect NYC 2017 Live
Tune in live as the best and brightest explain how to execute and grow your business from the main stage of Connect.

Loan servicers participating in the voluntary HOPE NOW coalition say they initiated repayment plans or modified the loan terms of two of every three delinquent subprime borrowers in the second half of 2007 -- almost twice the rate of success previously reported.

The new findings were based on revised data that included more complete participation of members of the HOPE NOW alliance, according to a press release announcing the release of the survey.

Comments