Services

This report is the minimum you should know before even speaking to a client about a modification.

Below you will find a “snap shot” of some of the modification terms that have been performed that we have found in a borrowers specific pool.

What you get with this report that you need to know:

Facts for the borrows specific securitized pool of loans:

  • How many active modifications are in the client’s pool
  • What interest rate reductions have been performed
  • What payment reductions have been applied
  • What capitalizations have been performed
  • Whether Principal Reductions/Forbearance is allowed
  • What amortization changes have been made
  • What was the lowest interest rate given
  • Whether multiple modifications have been reported
  • Whether borrower’s loan has been previously modified

Additional Info being reported:

  • Loan status being reported
  • Original Loan amount
  • Actual Loan balance
  • Current Interest rate
  • Current Principal and Interest Payment or IO payment.
  • Paid Through Date
  • Active Loans, Foreclosure, Bankruptcy and REO

Disclosures:

  1. If the loan is not in securitized trust that reports we will not find data.
  2. Servicers may change the types of modifications they are doing with a specific trust, the report only shows you what has been done in the past.
  3. This report should not be used as a “silver bullet”.  It should be used as a part of a sound review of borrowers total circumstances when you are setting realistic expectations for a borrower.
  4. No consult time is provided with this basic report.  It is only a factual presentation of data that has been reported to Trustee of Pools.  No exceptions.