Protiviti, a global business consulting and internal audit firm, has made available the latest edition of its Global Financial Crisis Bulletin, ‘The Home Affordable Loan Modification Standards: What Loan Servicers and Investors Need to Know.’
The bulletin examines the U.S. Treasury Department's guidelines, the prospects for the program's success, and the questions that loan holders and servicing organizations should ask before they decide whether to participate in the program, Protiviti says.
‘For most loan holders and mortgage servicing executives, the question of whether the program will work from a macroeconomic perspective is likely less important than the immediate question of what impact the program will have on their organizations, and what steps they should be taking to prepare,’ says Carol Beaumier, a Protiviti executive vice president and leader of the firm's Global Financial Crisis Team. ‘We believe leaders in the mortgage industry will want to consider a number of factors, including comparing any current programs they have in place with the new national program and, for those organizations with no existing plan, whether they want to participate at all.’
Protiviti's bulletin examines the costs and time associated with implementing the programs and compares those expenses with the financial benefits of participation.
To access a complimentary copy of the bulletin, visit www.protiviti.com/economiccrisis.