Loan Modifications
In today's market, the cost of residential defaults - now an average of $35,000 per home - can hardly be considered "the cost of doing business." At First American, we help you mitigate the risk and reduce the cost assocaited with default and foreclosure.
Our streamlined loan modification solutions help you effectively manage all aspects of the default prevention process with:
- Proprietary document creation and electronic delivery - High-volume processing capabilities - Full compliance with Fannie Mae, Freddie Mac, and HUD loan modification requirements - Bundling compatiblity with our property information/tax reports, income verification, AVMs/appraisals, and Mortgage Priority Guarantees - Complete mail fulfillment and recordation services
Our loan modification product gives lenders and loan servicers a simple, convenient method for creating loan-modification document packages. Loan modification is a default management tool offered by Fannie Mae, Freddie Mac and HUD to assist borrowers who have fallen behind in their loan payments. These three federal programs allow the terms of a loan to be restructured so as to prevent foreclosure.