SIGTARP HAMP FINDINGS: SERVICERS REVOKING COMPLIANT HAMP PLANS
Why are modifications being undermined when they would so obviously preserve the value of the “loan?” The answer is because the real party in interest in the foreclosures is the servicer, not the trust, which doesn’t own the loan anyway, nor even the investor/beneficiaries, who reap very little out of the proceeds of foreclosure. The …
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