Following the lead of many other mortgage servicers, Residential Capital has joined the mortgage lenders in supporting help for homeowners. The Chairman and CEO, Thomas Marano in response to the Streamlined Mortgage Modification Plan ssued the following statement: “Residential Capital, LLC (ResCap) strongly supports the actions taken today by the Federal Housing Finance Agency, the [...]
Entries from November 2008
Residential Capital, 5th Largest Mortgage Servicer Also Supports Streamlined Modification Plan
November 12th, 2008 · No Comments
Tags: "mortgage modification" · Avoiding Foreclosure
Streamlined loan modification program to start on December 15, 2008
November 11th, 2008 · 1 Comment
Fannie Mae and Freddie Mac’s regulator announced Tuesday that the housing finance giants will implement a sweeping plan to prevent distressed borrowers from losing their homes to foreclosure. The new program, which goes live December 15, aims to speed up the loan modification process by using a more-streamlined protocol. Here are the details: The new [...]
Tags: "mortgage modification" · Government Bailout · Mortgage Refinancing
JPMorgan expands Mortgage Modification program
November 1st, 2008 · 1 Comment
JPMorgan Chase & Co. on Friday became the latest major bank to beef up its mortgage modification efforts as the government also considers a plan to help homeowners avoid foreclosure. JPMorgan’s expanded program aims to help avoid foreclosures on an estimated $70 billion in loans, which could help as many as 400,000 customers. The New [...]
Tags: "mortgage modification"