Creating Borrower Rights to With Respect to Concessionary Loan Modifications February 7, 2011 Brian D. Boyle.

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Presentation transcript:

Creating Borrower Rights to With Respect to Concessionary Loan Modifications February 7, 2011 Brian D. Boyle

Slide 2 Source: Lender Processing Services, December 2010 Mortgage Monitor

Slide 3 Source: Lender Processing Services, December 2010 Mortgage Monitor

Slide 4 Source: Lender Processing Services, December 2010 Mortgage Monitor

Slide 5

Slide 6 Source: OCC/OTS Mortgage Metrics Report, Third Quarter 2010

Slide 7 Source: OCC/OTS Mortgage Metrics Report, Third Quarter 2010

Slide 8 Source: OCC/OTS Mortgage Metrics Report, Third Quarter 2010

Slide 9 Housing ExpensesModificationShort SaleForeclosure Housing cash flows for typical underwater borrower Modified monthly mortgage payment $10,800 (12 months at $900) $0 Moving expense$0$2,000 Relocation assistance$0($3,000)($2,500) Monthly rental payment$0$7,700 (7 months at $1,100) $0 12 month prospective housing expense $10,800$6,700($500) Borrower Economics: Foreclosure vs. Alternatives

Contact Me With Questions Brian D. Boyle OMelveny & Myers LLP 1625 Eye Street NW Washington, DC Slide 10