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Low Modification Approval Rate

Posted in Fannie Mae, Mortgage Modification

This post comes from Martin Andelman. The low approval rate on modifications Martin discusses is the main reason why you should hire an attorney to do your modification. Our success rate on modifications is much higher, around 80%. Of course, part of the reason why that is so is that we do not take cases where we are not reasonably confident that we can get a positive result. *** Data shows Nationstar Approves Loan Modifications at Much Lower Rate than Big Banks During the month of May, which is the most recent data available from the Treasury Department, Nationstar Mortgage’s servicing operations approved 601 loan modification requests… and denied 4,216.  That’s a 12.5 percent approval rate for the month of May.  Cumulatively, based on program-to-date data through the month of May, Nationstar only approved 22 percent of the loan...

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