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: Mortgage Lender Implode-o-Meter

Loan servicers prefer big losses to loan forgiveness

By Implode-Explode Heavy Industries

" The study also found that modifications decreased in May and June compared to February, while foreclosures increased. But the study is only looking at a slice of the market ? one can?t assume loan mods are dropping across the entire industry. The Office of the Comptroller of the Currency, which tracks more home loans including prime, said in the first quarter loan mods increased 55% vs. the final three months of 2008."

Full post as published by Mortgage Lender Implode-o-Meter on July 06, 2009 (boomark / email).