Bair: 3,500 Mortgages Modified at IndyMac Under FDIC Program

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Deposit Insurance Coverage - Personal Accounts FDIC’s Bair Pushes Loan Modification Program.. more than 5,000 borrowers’ loans have been modified under the program.. Bair: 3,500 Mortgages Modified at IndyMac Under FDIC Program.

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FDIC Practices What it Preaches: IndyMac Loan Modifications Are On Their Way. the FDIC announced a blanket loan modification program, under which the loans of borrowers in default or having trouble making their mortgage payments will be automatically modified into fixed rate loans whose terms.

Aug 21 – FDIC Chairman Sheila C. Bair has announced that IndyMac Federal Bank, FSB will implement a new program to systematically modify troubled mortgages. The program is designed to achieve affordable and sustainable mortgage payments for borrowers and increase the value of distressed mortgages by rehabilitating them into performing loans.

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The refinance share of mortgage activity increased to 47.4% of total applications, rising from 40.4% the previous week.US regulator to help indymac mortgage borrowers – Reuters – Thousands of homeowners with distressed mortgage loans linked to failed lender IndyMac may soon be able to avoid foreclosure under a program announced on Wednesday.

Outspoken fdic chairman sheila bair today announced a loan modification plan for troubled Indymac borrowers who are currently behind on their mortgage payments.. The aim of the program is help struggling borrowers get back on track with affordable mortgages while increasing the value of Indymac’s mortgage portfolio for the sake of its outstanding creditors (what is a loan modification program?).

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FDIC Loan Modification Program Page 2 A message from FDIC Chairman Sheila Bair I have long supported a systematic and streamlined approach to loan modifications that puts borrowers into affordable, long-term mortgages while achieving an improved return for bankers and investors compared to foreclosure. Using this

Indymac under the FDIC supervision of Sheila Bair has been very co-operative with loan modifications. Citi’s Office Of Homeownership preservation is laso extremely co-operative in helping homeowners stay in their homes. Without knowing your particulars it is hard to know whether or not you would qualify for modification.