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Treasury's Secret Formula Slows Loan Modifications

But one thing's clear: it favors banks, not homeowners

By Kevin Spak, Newser Staff

Posted Sep 16, 2009 8:15 AM CDT

(Newser) – The Obama administration’s mortgage modification program has been a big disappointment, and part of the reason could lie in the invisible hurdle troubled homeowners have to clear to get their mortgages renegotiated: the NPV test. Devised by the Treasury, the secret formula is designed... Read full story »

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Treasury's Secret Formula Slows Loan Modifications

But one thing's clear: it favors banks, not homeowners

mortgage • Treasury Department • mortgage modification • loan modification

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More Newser Stories

Sleazy Middlemen Stiff Homeowners Trying to Refi

Foot-dragging 'mortgage servicers' step into role of fox in henhouse

BofA, Wells Fargo Rank Worst for Loan Modifications

Treasury report rates banks' performance

US May Let Millions Refinance at 4%

Proposal could save homeowners $85B annually

Arizona, Nevada Sue Bank of America

State alleges bank misled homeowners who lost their houses

BofA Forgiving $3B in Mortgage Debt

45K 'underwater' borrowers to be offered reduction

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