The Good, Bad, and Ugly
We have written recently about loan modification, and the lenders' ineffectiveness and disinterest in getting them done. Who holds your loan greatly affects your ability to get your loan modified. Here's our ranking of the major servicers and their overall percentages of approving loan mods for eligible loans since the government program was instituted:
The Good
Aurora: 21%
Chase: 20%
GMAC: 20%
Saxon: 25%
The Bad
CitiMortgage: 15%
The UGLY
Bank of America: 4%
National City: 4%
Ocwen: 5%
SLS: 3%
Wachovia: 2%
Wells Fargo: 6%
Wilshire: 1%
Written By Nick Shivers
Thursday, August 13, 2009
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