(Reuters) - The changes will be effective for transactions closing in August 2007. As
U.S. home price growth has slowed and begun to fall, mortgage delinquency
rates, particularly subprime mortgage delinquencies, have risen.
The concomitant rise in mortgage foreclosures has resulted in a focus by
policy makers, regulators, community groups and mortgage/securitization
industry participants on ways to assist homeowners in avoiding foreclosure. One
approach that is gaining increasing favor is loan modification, which means
changing the terms of the mortgage in order to make the payments more
affordable to the borrower.
Read more at Reuters.com Bonds News
U.S. home price growth has slowed and begun to fall, mortgage delinquency
rates, particularly subprime mortgage delinquencies, have risen.
The concomitant rise in mortgage foreclosures has resulted in a focus by
policy makers, regulators, community groups and mortgage/securitization
industry participants on ways to assist homeowners in avoiding foreclosure. One
approach that is gaining increasing favor is loan modification, which means
changing the terms of the mortgage in order to make the payments more
affordable to the borrower.
Read more at Reuters.com Bonds News
No comments:
Post a Comment