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The Moody's Economy.com analysis estimates that up to two million mortgages will be voluntarily modified under the Obama plan and that up to 1.25 million will be modified in bankruptcy court.
This risky portfolio means nearly 70,000, or 20%, of the loans voluntarily modified in the U.S. last year were owned by Fannie or Freddie according to HOPE NOW, an industry group.
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For too long, President Obama and his team have relied on the banks to voluntarily modify troubled loans.
Lenders are more likely to voluntarily modify bad loans if the alternative is to lose control of the process to a judge.
The plan is bolder and more expensive than any of the Bush administration's programs, which were based almost entirely on coaxing lenders to voluntarily modify loans.
We are concerned that Mr. Obama's anti-foreclosure plan — which relies on lenders to voluntarily modify troubled loans — will falter unless Congress quickly reforms the bankruptcy code.
We were particularly concerned that without a reform of the bankruptcy code, lenders wouldn't do enough to voluntarily modify troubled loans.
Servicers who participate in the Treasury Department's mortgage modification program will be asked to postpone payments for unemployed homeowners, though to date, their record at voluntarily modifying loans has been spotty.
Nevertheless, Welch said, he is voluntarily modifying the deal by giving up many of the perks.
I would like to make a further point on this: BCI users differ between each other in the way they can voluntarily modify their brain activity, and there is even an interindividual difference in the detectability of movement-related EEG-activity.
With the deadline to comply fast-approaching, several major food producers have announced plans to voluntarily label products containing genetically modified organisms, or GMOs, not only in the small New England state, but nationwide. .
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