Tag Archives: loan modifications

Loan Modifications by Fannie Mae Fall in June

Fannie Mae reported that the number of loan modifications completed during the month of June was less than May’s figure. During the month of June, the agency modified 12,967 loans, down from 13,650 the previous month. That is lower than this year’s monthly average and last year’s monthly average: so far this year, Fannie Mae […]

Is the Home Affordable Modification Program (HAMP) Really Working?

In May 2009, the Obama administration announced its $75 billion Home Affordable Modification Program (HAMP), set up to aid nearly 4 million homeowners. The program provides financial incentives to mortgage companies and investors to modify home loans and prevent foreclosures.  Under the program, borrowers are first put into trial modifications for three months to ascertain […]