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Loan Modification

: Mortgage Lender Implode-o-Meter

Summary of S. 896, the Helping Families Save Their Homes Act of 2009

By Implode-Explode Heavy Industries

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The bill amends the HOPE for Homeowners Program, to (a) permit reduction of excessive fee levels, (b) provide greater incentives for mortgage servicers to engage in modifications under the Program, and (c) reduce administrative burdens to loan underwriters by making the requirements more consistent with standard FHA practices.

Full post as published by Mortgage Lender Implode-o-Meter on May 20, 2009 (boomark / email).

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