Administration Announces Steps To Encourage Participation In Loan Modification Program

摘要

The Obama Administration has announced steps to encourage participation in its Making Home Affordable (MHA) loan modification program, implementing a new FHA loss mitigation option and providing protection for lenders against declines in home prices.rnIn addition, Administration officials met with mortgage servicers on July 29 to discuss ways to speed up modification activity.rnThe meeting was led by FHA Commissioner David Stevens; William Apgar, senior advisor to HUD Secretary Shaun Donovan; Michael S. Barr, treasury assistant secretary for financial institutions; and Herb Allison, treasury assistant secretary for financial stability.