Banks, including Citigroup Inc., JPMorgan Chase & Co. and Bank of America Corp., report the loan modifications to credit bureaus. The adjustments can lower credit scores because of the way the FICO formula, the most widely used by U.S. lenders, works.
Programs are underway on so many fronts to get foreclosures under control that it can be difficult to sort them all out. Early last week the Office of Thrift Supervision and the Office of Comptroller of the Currency issued their second quarter summary of foreclosure avoidance activity among large loan...
Since March 4th 2009 when the Obama Administration announced the "Making Homes Affordable" (MHA) program, we have all been waiting for the plan to be implemented in a manner and scale that would have a positive impact on stabilizing real estate values. As was seen from the release of the GAO...