Early Mods Boost Success of Non-Agency Mortgages, Principal Reduction Most Effective, Analysis Finds
June 29, 2012
When it comes to modifying non-agency mortgages, early loan modifications greatly increase the rate of success, and principal reductions are the most effective type of loan mod, according to a new study by the MBS strategy group at Amherst Securities Group. Modification activity has undergone a dramatic reshaping over the past few years, which has dramatically improved modification success, the study said. In particular, payment reductions are much larger now, and that is...