Loan Modifications Fair Housing Finance Agency

Loan modifications are changes made to the terms of an existing loan outside the specifications contained in the original loan agreement. In a mortgage situation, loan modifications are typically made to assist... more +
Loan modifications are changes made to the terms of an existing loan outside the specifications contained in the original loan agreement. In a mortgage situation, loan modifications are typically made to assist borrowers in meeting their obligations and avoid foreclosure. Such mortgage loan modifications may include reduction of principal amount or interest rate, lengthening of loan term, and monthly payment caps. less -
News & Analysis as of

New Streamlined Loan Modification Program #LoanModAttorney

If you have a mortgage insured by Fannie Mae or Freddie Mac and you have been thinking about modifying your loan, there may good news for you! Previous modification programs have not worked well or failed miserably. However,...more

Federal Agencies Announce Two-Year HAMP Extension

On May 30, the FHFA announced that Fannie Mae and Freddie Mac will extend the Home Affordable Modification Program (HAMP) through December 31, 2015....more

Extension of Loan Modification Programs

On May 30, Treasury and HUD announced an extension of the Making Home Affordable Modification Program (HAMP) through December 31, 2015. In addition, on May 30, the FHFA announced that it has directed Fannie Mae and Freddie...more

Orrick's Financial Industry Week In Review - June 3, 2013

In This Issue: CFPB Final Rule Amendments to Ability to Repay and QM Rule; Extension of Loan Modification Programs; Freddie Mac $1 Billion Performing Modified Loan Securitization; FinCEN Guidance on Virtual Currency...more

FHFA Streamlined Modification Initative

On March 27, the FHFA announced that Fannie Mae and Freddie Mac will offer a new streamlined loan modification initiative. Beginning July 1, servicers of Fannie and Freddie mortgage loans will be required to offer...more

FHFA Announces Streamlined Modification Initiative

On March 27, the FHFA announced that Fannie Mae and Freddie Mac will begin a new loan modification initiative on July 1, 2013. As described in more detail in Fannie Mae Servicing Guide Announcement SVC-2013-05 and Freddie Mac...more

Orrick's Financial Industry Week In Review - April 2, 2013

In This Issue: *Financial Industry Developments - CFTC No-Action Relief for Commodity Trader Advisor Registration - CFTC Regulations on Associated Persons of Swap Dealers and Major Swap Participants -...more

House Democrats Urge President Obama To Nominate FHFA Director

On February 7, 45 Democratic Members of the House of Representatives sent a letter to President Obama requesting he nominate a permanent director for the FHFA to replace Acting Director Edward DeMarco. ...more

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