Donovan acknowledged reports that some servicers are still refusing to consider modifications for borrowers who are not yet delinquent.
“We think that’s a mistake, because the sooner you get to somebody, the sooner you help them, the better chance you have of long term success,” he said. “In fact, we offer incentives where we will provide higher payments to the servicers under our plan if they get to somebody before they’re 60 days delinquent, and they don’t even need to be delinquent at all.”
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