The state Department of Corporations, which oversees Gov. Arnold Schwarzenegger's agreement with 10 subprime loan servicers to help struggling borrowers stay in their homes, has released "encouraging" new numbers for April and May.
They do show an increased willingness by lenders and servicers to modify loans. The state, while acknowledging that foreclosures continue to rise sharply, hopes it is a trend to build on. It certainly is an improvement over results earlier this year.
The memo by Department of Corporations Commissioner Preston DuFauchard giving his interpretation of the data is here.
And here is the actual survey data.
They do show an increased willingness by lenders and servicers to modify loans. The state, while acknowledging that foreclosures continue to rise sharply, hopes it is a trend to build on. It certainly is an improvement over results earlier this year.
The memo by Department of Corporations Commissioner Preston DuFauchard giving his interpretation of the data is here.
And here is the actual survey data.
@Nyx.CommentBody@