Newsflash: Loan mods stink
By Geert De Lombaerde Posted on June 30, 2009 at 9:19 pm
More sobering news from the mortgage front: The OCC and OTS have released a report that chronicles the explosion in loan modifications early this year – up 55 percent from late 2008 – and gives us more evidence that those mods just don’t work well.
SEE ALSO: Our print edition cover story this week on foreclosures.
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Tags: banking, foreclosures, housing market, loan modifications, mortgages, Office of the Comptroller of the Currency, Office of Thrift Supervision, subprime mortgages
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