Servicers Become More Aggressive in Loan Modification Efforts, But Questions Persist
January 22, 2009
Mortgage servicers appear to be moving more aggressively to modify troubled loans even if doing so may violate pooling and servicing agreements governing loans held in mortgage securities trusts as pressure grows to address rising default and foreclosure rates.JPMorgan Chase announced last week that it is launching a mass-modification program for some $1.1 trillion of home loans...