Volume 2014 - Number 11
May 23, 2014
Downloads Available: HAMP Activity by Non-Agency Servicers - 1Q14
Principal Reduction Prevalent on Non-Agency Mods
More than two out of three non-agency loan modifications started under the Home Affordable Modification Program eligible for principal reduction have received principal reduction in recent years, according to the Treasury Department. Principal reduction for non-agency mortgages under HAMP is not required, but loan owners receive incentives for allowing principal reduction. HAMP servicers handling non-agency mortgages are required to evaluate ... [Includes one data chart]
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