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"The median monthly payment reduction for borrowers enrolled in
the (HAMP) program is $522" - DSnews.com

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Mortgage Lenders Having Major Issues


Lenders now have to deal with a bigger issue than "robo-signing" which is lost and faulty documents.  This information comes from Moody's Investor Service report. The difference between the two problems is that "robo-signing" would possibly postpone the foreclosure process.  And the loss of documents could potential put a stop to the foreclosure process.  However, this problem can likely be fixed under the REMIC rules.