U.S. Wants 500,000 Mortgage Modifications by Nov. 1; Firms Ask for Clarity
July 29, 2009 - by Renae Merle - Washington Post Staff Writer
Senior administration officials pressed executives from the nation's largest banks Tuesday to speed help to distressed borrowers after a frustrating start to the government's foreclosure-prevention effort and set a goal of more than doubling the number of homeowners receiving aid by November.
After a series of meetings with top banking executives, Treasury Department officials said they want lenders to modify 500,0000 mortgages by Nov. 1. Since the program, known as Making Home Affordable, began in March, it has recorded about 200,000 loan modifications. Read more ...
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Treasury Says Servicers Commit To Increased Loan Mod, July 28, 2009, Forbes
Mortgage Servicers Pledge to Accelerate Modifications, July 28, 2009, Bloomberg
Servicers Attend Meeting of the Minds in Washington, July 28, 2009, Housingwire
Administration pushes servicers to modify more mortgages, July 29, 2008, Seattle Post Intelligencer
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