About Government Refinance and Home Purchase Programs

Information and Updates on Government Mortgage Programs
BofA, Wilshire, and Countrywide join the growing ranks of servicers in on the Obama plan
Filed under Government Mortgage Financing Programs News

We get this from HousingWire:

Bank of America, Countrywide Home Loans Servicing, Home Loan Services and Wilshire Credit became the eighth, ninth, tenth and eleventh firm to be pre-approved for TARP funds, under the Making Home Affordable loan modification system.

Simi Valley, Calif.-based Bank of America, will be allowed to draw up to $798.9m of government funds. Countrywide Home Loans has been promised a maximum of $1.86bn. Home Loan Services and Wilshire Credit can draw up to $319m and $366m, respectively.

The other seven servicers on tap to receive funds include Chase Home Finance (which was allotted the largest share thus far — up to $3.55bn), Wells Fargo Bank ($2.87bn), CitiMortgage ($2.07bn), GMAC Mortgage ($633m), Saxon Mortgage Services ($407m), Select Portfolio Servicing ($376m) and Ocwen Financial ($659m).

This growing list is good news for borrowers in serious trouble.

Comments Off on BofA, Wilshire, and Countrywide join the growing ranks of servicers in on the Obama plan Posted by G.R.A. Admin on Friday, April 24th, 2009


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