The Ins and Outs of Loan Modifications audio conference (W) CD + Special Report (price with shipping in U.S.)

Product Details

Loan modification is the hottest topic in the mortgage industry these days, due to the wave of rising mortgage defaults combined with growing pressure from federal regulators and lawmakers to save borrowers from bad loans. Learn first hand how a variety of mortgage market players are handling loan modifications in the current crisis environment.

In Washington, officials at the FDIC, Treasury and HUD are all leaning on lenders to aggressively embrace loan modifications as one of the preferred strategies in mortgage loss mitigation. On Wall Street, mortgage security investors are being urged to allow loan modifications on non-delinquent mortgages. On Main Street, borrowers have started to expect loan modifications as the easiest way to manage rising mortgage payments.

Find out what the aggressive push for loan modifications may mean for you and your business. Will loan modification be a cost-effective solution to rising mortgage defaults? Or will most modified loans wind up in default at a later time? Are interest rate and payment adjustments the wave of the future when it comes to loan modifications, or are there still less drastic alternatives? Hear the ins and outs of this hotly debated topic.

Listen to the Experts Discuss the Issues:

• Robert Padgett, Director of Loss Mitigation at Freddie Mac, provided the GSE viewpoint;
• Paul Leonard, Director, California Office, Center for Responsible Lending, discussed the just-announced loan modification plan between California and lenders;
• Tom Deutsch, Deputy Executive Director of the American Securitization Forum, provided the industry perspective;
• John Anderson, SVP of Quantum Servicing, a Clayton Company, provided the servicer perspective;
• Guy Cecala, Publisher, Inside Mortgage Finance Publications, moderated the conference call.

This Audio Conference Covered...

• What servicers are dealing with day-to-day and the trends emerging;
• The cost-benefit analysis of loan modifications;
• Why some companies choose a forbearance-to-modification strategy;
• What re-default rates you can expect;
• The importance of keeping up with repayment options that investors are willing to accept;
• How to decide whether to reduce a loan’s interest rate, stretch amortization, or cut the rate for a probationary period;
• How the issues differ when servicing loans already securitized;
• When not to do a loan modification;
• How nonprofits and regulators are approaching this issue, and more.