Mortgage Modifications Drop; Mod Defaults to Rise
admin2011-02-08T05:00:25-07:00February 8, 2011 (Chris Moore) Credit rating agency Fitch Ratings reported that mortgage servicers modified 36,500 mortgages through government and proprietary programs in December 2010, down 57% from the peak of 86,500 in April 2009. Fitch also stated that based on current and expected inventory, it will take four years to remove the backlog of [...]