Thursday, March 3rd, 2011, 5:06 pm
Three of the top eight servicers transferred mortgages in December to another company after canceling the loan out of a Home Affordable Modification Program trial.
The Treasury Department tracks how many trials the top servicers cancel each month and reports the cumulative total. However, the cumulative total actually decreased from the month before for CitiMortgage, the servicing arm of Citigroup (C: 4.68
Federal Housing Finance Agency is working to change the servicing fee structure for the entire industry and The House Financial Services Committee already voted Thursday to end two other foreclosure prevention programs.