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Loan Modification

: Mortgage Lender Implode-o-Meter

Mortgage-modification program has major flaws

By Implode-Explode Heavy Industries

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"The $75 billion program gives enormous discretion over whether to modify a mortgage to the parties least interested in doing it -- lenders and loan servicers. And although HAMP sought to establish uniform modification standards and established extensive reporting requirements for participating servicers, enforcement of those rules is lax."

Full post as published by Mortgage Lender Implode-o-Meter on March 18, 2010 (boomark / email).

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