JP Morgan chase to dramatically expand their loan modification and loss mitigation efforts.

rumors include temporary freeze on foreclosures.

- owner occupied properties

- reasonably current payment histories

In a nutshell, the buzz is that they are opening new facilities with the intent of being much more aggressive (in favor of consumers) with respect to loan modifcations in order to prevent foreclosures.

Whether or not this will be good for Chase or the broader housing market is unclear at this point. So far no noticeable reaction in MBS, but we'll update you if that occurs.