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John Comiskey #1097

Coffee and a Mike

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Challenges in Loan Modifications

This chapter explores the intricate issues surrounding loan modifications, particularly within the FHA portfolio and the contrasting performance between HAMP and non-HAMP modifications. It highlights alarming delinquency rates among recent modifications and the effects of rising interest rates, as well as the implications of loss mitigation strategies during and after COVID. Additionally, it discusses the emerging solutions like standalone partial claims while pointing out potential abuse and the overall challenges borrowers face in stabilizing their financial situations.

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