Loan Modification

We like to think of the foreclosure scandal as Hamp on super-steroids, with a hefty dose of litigation and structured finance for added fun.

Recall that the US administration?s mortgage modification program was aimed simply at keeping people in their houses. The foreclosure freeze does this too, albeit somewhat inadvertently.

What?s perverse about this moratorium is that it?s mostly self-imposed. A number of mortgage servicing companies have decided to postpone foreclosures in recent weeks.