Industry NewsMortgage

Servicers prodded to do more loan mods

New goal: 500,000 trial modifications by Nov. 1
Published on Jul 29, 2009

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by CareyBot

Loan servicers have committed to "significantly increasing" the rate at which they negotiate loan modifications with homeowners facing foreclosure, the Obama administration said in announcing a new goal of achieving 500,000 trial loan modifications by Nov. 1.