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Washington
Inside Washington (12/12/2007)
* WASHINGTON (12/13/07)--Progress reports on the Treasury Department’s loan modification plan are scheduled to be released to the public in January, but details regarding how that information will be reported are unclear. Some industry representatives have stated they will report data on a monthly basis. But they haven’t decided who will report or how the reporting will take place (American Banker Dec. 12). When the Treasury announced its plan encouraging loan servicers to report loan modifications, the American Securitization Forum recommended 28 metrics to guide servicers. The Hope Now alliance, which is leading the data collection, is using the forum’s criteria. The progress reports will likely center on how many people did or did not receive help with their modifications, and what happened to those who didn’t, said William Longbrake, a Washington Mutual vice chairman and policy adviser to the Financial Services Roundtable …


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