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Volume 2014 - Number 31

August 7, 2014

First Wave of HAMP Resets to Begin in October; How Much of a Payment Shock Will There Be?

Five years after the first round of loan modifications began in April 2009 under the Treasury Departmentís Home Affordable Modification Program, 32,111 loans are scheduled for their first interest rate resets this October. The impact of this first wave is expected to be limited. But in each of the next successive four years, HAMP resets will reach into six-figure territory, and by the time the smoke clears, upwards of 800,000 loans will face multiple interest rate tests. ďThe HAMP resets will be...

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The year is almost 75% done. How is mortgage origination volume at your shop?

We will fund about the same as we did in 2016.
We will fund more than last year – by a little.
We will fund more than last year – by a lot.
We will fund less than last year – by a little.
We will fund less than last year – by a lot.

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