Administration holds high-profile meeting with servicers in D.C

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Administration holds high-profile meeting with servicers in D.C Powered By Docstoc
					Administration holds high-profile meeting with servicers in D.C.
Anonymous
Mortgage Banking; Sep 2009; 69, 12; Docstoc
pg. 9




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DOCUMENT INFO
Description: On July 28, a high level meeting with servicers in Washington DC took place in an effort to speed up relief to troubled borrowers who are on the brink of foreclosure. Servicing executives were sent a letter inviting them to the meeting that was signed by Treasury Sec Timothy Geithner and Housing and Urban Development Sec Shaun Donovan. The joint letter sent by Geithner and Donovan indicated to servicing executives that the administration is not going to be hands-off in the administration of the Home Affordable Modification Program. A step the administration says it plans to take to ramp up modifications is to embark on a second-look process to review cases turned down for modifications. In an effort to offset some of the anti-servicing industry sentiment swirling in Washington DC, David Kittle, chairman, Mortgage Bankers Association, submitted an editorial to USA Today.
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