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Streamlined Loan Modification Program Rolls Out HW+

Dec 18, 2008By

(Update 1 reflects clarified language regarding the modification options.) The streamlined modification program (SMP) announced Nov. 11 has now rolled out and will allow government-sponsored entities Freddie Mac [stock FRE][/stock] and Fannie Mae [stock FNM][/stock] to modify large numbers of delinquent mortgage loans in an effort to prevent foreclosures, the GSEs — along with the Federal Housing Finance Agency — announced Thursday.

3d rendering of a row of luxury townhouses along a street

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