FDIC Announces Loan Modification Program for IndyMac Borrowers

摘要

The Federal Deposit Insurance Corporation (FDIC) has announced a streamlined loan modification program for troubled homeowners with mortgages from the now-closed IndyMac Bank. IndyMac has been replaced by a new IndyMac Federal Bank under an FDIC conservatorship. "I have long supported a systematic and streamlined approach to loan modifications to put borrowers into long-term, sustainable mortgages, achieving an improved return for bankers and investors compared to foreclosure," said FDIC Chairman Sheila C. Bair. "Our goal is to get the greatest recovery possible on loans in default or in danger of default, while helping troubled borrowers remain in their homes." According to Bair, the program will apply primarily to Alt-A mortgages, which fall between the prime and subprime sectors.