Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
Feb. federal loan-mod report shows jump
WASHINGTON (3/15/10)--The U.S. Treasury and the Department of Housing and Urban Development (HUD) on Friday reported that the number of mortgages modified through the Obama Administration’s Home Affordable Modification Program (HAMP) increased by 45% in February. In total, the HAMP program modified 170,000 mortgages during February, with “an additional 91,800 permanent modifications" being approved by servicers, the release added. According to the report, “borrowers in active trial and permanent modifications have saved more than $2.7 billion through HAMP modifications,” with a median savings of $519 per borrower, “or 36% of the median before-modification payment.” The program has been most active in California, with Florida ranking a close second in the number of active trials and permanent mortgage modifications. The New York, Los Angeles, Chicago, and Miami metropolitan areas had the highest HAMP participation among larger cities. For the full report, use the resource link.
Other Resources

RSS





print
News Now LiveWire
Maine credit unions put Food Mobile on the road to relieving hunger in rural areas http://t.co/R0xpt6BAZE
1 Day ago
.@TheNCUA's Matz: PALS should be exempt from Military Lending Act proposal #NewsNow http://t.co/Vy9uNhOIEr
1 Day ago
#NewsNow Iowa loan growth 3 times national bank rate http://t.co/fUvudPLg5d
27 minutes ago
.@ICBA tallies its Home Depot data breach costs: $90M, 7.5M cards http://t.co/iJgRDC2AKZ
1 hours ago
.@icul's Jury elected treasurer of @WOCCU exec committee http://t.co/HEF1UChN8f
2 hours ago