Loss Mitigation

GSE Loan Modification Plan Generates Questions, Concerns 

The mortgage modification frenzy that has caught lenders in its net in recent weeks has moved to both Fannie Mae [stock FNM][/stock] and Freddie Mac [stock FRE][/stock], with both GSEs rolling out what’s being called a “streamlined modification plan” — or SMP — to restructure loans for troubled borrowers en masse. Or at least, that’s the hope.