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June 4, 2014

HAMP Reset Fears Overblown, Urban Institute Says

By George Brooks

Some in the industry are concerned that HAMP interest-rate resets, which begin later this year, could cause defaults on modified loans to increase, lowering the number of successful modifications under the program.

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Poll

With rates higher this year, there has been talk of lenders liberalizing their underwriting standards in an effort to increase volume and make up for lower refis.

Do you think your shop will loosen standards over the coming three months?

Yes, but not by much.

47%

Yes, by a lot.

5%

Yes and, heck, we may even do non-QM lending.

14%

No, not at all.

26%

No and we may even tighten credit.

7%