Posts tagged as:

federal reserve on mortgage servicers

Stabilizing the Housing Market: Focus on Communities

by Moe Bedard

To help those distressed households for which foreclosure can be prevented, servicers must implement effective and sustainable modifications. Key private and public steps toward preventing unnecessary foreclosures have already been taken, but much more must be done. While community bankers typically do not have large portfolios on which to perform wholesale modifications, I would urge you to be sure that you are making reasonable accommodations whenever possible to keep homeowners in their homes.

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The Incentives of Mortgage Servicers: Myths and Realities

by Moe Bedard

Finance and Economics Discussion Series Divisions of Research & Statistics and Monetary Affairs
Federal Reserve Board, Washington, D.C.

As foreclosure initiations have soared over the past couple of years, many have questioned whether mortgage servicers have the right incentives to work out troubled subprime mortgages so that borrowers can avoid foreclosure and remain in their homes. Some [...]

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