Volume 2014 - Number 4
February 14, 2014
Downloads Available: HAMP Activity by Non-Agency Servicers - 4Q13
Mods Set to Experience Payment Shock
Interest rates are set to increase for a significant number of borrowers that received loan modifications after the financial crisis. Incentive payments to borrowers and servicers will also end, which could prompt performance issues on outstanding loan mods. The majority of mortgages modified under the Home Affordable Modification Program include interest rate resets after five years, and some proprietary loan mods followed a similar model. A relative trickle of resets will occur in 2014, followed by a massive ...
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