Loan Modification Specialist
- Loan Modification Specialist
- A mortgage specialist who deals specifically with loan modifications. Loan modification specialists work with borrowers who are close to or have defaulted on their mortgage. A loan modification is simply an adjustment made to the terms of the existing loan to reduce the probability of a borrower defaulting. Common adjustments include: interest rate reductions, extension of length of loan term, change to loan type or a mix of all adjustments.
The popularity of loan modifications rose during the financial crisis of 2008-2009. President Obama rolled out programs that provided incentives for lenders to adjust the loans for the borrower to avoid default and prevent foreclosures. More information on loan modifications can be found at the website for the U.S. Department of Housing and Urban Development (HUD).
Investment dictionary.
Academic.
2012.
Look at other dictionaries:
education — /ej oo kay sheuhn/, n. 1. the act or process of imparting or acquiring general knowledge, developing the powers of reasoning and judgment, and generally of preparing oneself or others intellectually for mature life. 2. the act or process of… … Universalium
Economic Affairs — ▪ 2006 Introduction In 2005 rising U.S. deficits, tight monetary policies, and higher oil prices triggered by hurricane damage in the Gulf of Mexico were moderating influences on the world economy and on U.S. stock markets, but some other… … Universalium
Europe, history of — Introduction history of European peoples and cultures from prehistoric times to the present. Europe is a more ambiguous term than most geographic expressions. Its etymology is doubtful, as is the physical extent of the area it designates.… … Universalium
United Kingdom — a kingdom in NW Europe, consisting of Great Britain and Northern Ireland: formerly comprising Great Britain and Ireland 1801 1922. 58,610,182; 94,242 sq. mi. (244,100 sq. km). Cap.: London. Abbr.: U.K. Official name, United Kingdom of Great… … Universalium
china — /chuy neuh/, n. 1. a translucent ceramic material, biscuit fired at a high temperature, its glaze fired at a low temperature. 2. any porcelain ware. 3. plates, cups, saucers, etc., collectively. 4. figurines made of porcelain or ceramic material … Universalium
China — /chuy neuh/, n. 1. People s Republic of, a country in E Asia. 1,221,591,778; 3,691,502 sq. mi. (9,560,990 sq. km). Cap.: Beijing. 2. Republic of. Also called Nationalist China. a republic consisting mainly of the island of Taiwan off the SE coast … Universalium
environment — environmental, adj. environmentally, adv. /en vuy reuhn meuhnt, vuy euhrn /, n. 1. the aggregate of surrounding things, conditions, or influences; surroundings; milieu. 2. Ecol. the air, water, minerals, organisms, and all other external factors… … Universalium
Russia — /rush euh/, n. 1. Also called Russian Empire. Russian, Rossiya. a former empire in E Europe and N and W Asia: overthrown by the Russian Revolution 1917. Cap.: St. Petersburg (1703 1917). 2. See Union of Soviet Socialist Republics. 3. See Russian… … Universalium
United States — a republic in the N Western Hemisphere comprising 48 conterminous states, the District of Columbia, and Alaska in North America, and Hawaii in the N Pacific. 267,954,767; conterminous United States, 3,022,387 sq. mi. (7,827,982 sq. km); with… … Universalium
HEBREW GRAMMAR — The following entry is divided into two sections: an Introduction for the non specialist and (II) a detailed survey. [i] HEBREW GRAMMAR: AN INTRODUCTION There are four main phases in the history of the Hebrew language: the biblical or classical,… … Encyclopedia of Judaism
