US housing regulator considers easing loan modifications
WASHINGTON Jan 18 (Reuters) - The regulator for Fannie Mae (FNMA.OB) and Freddie Mac (FMCC.OB) said on Tuesday it was considering new ways for mortgage servicers to be compensated in order to make it easier to modify loan terms for struggling homeowners.
"As the recent problems in managing mortgage delinquencies suggest, the current servicing compensation model was not designed for current market conditions," Edward DeMarco, acting director of the Federal Housing Finance Agency, said in a statement. (Reporting by Corbett Daly, Editing by David Storey)
- Tweet this
- Share this
- Digg this