Office of the Comptroller of the Currency, Ensuring a safe and sound national banking system for all Americans Site Map | Text Size: S M L

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PART II: Home Retention Actions

First Quarter 2009

Home retention actions seek to help keep borrowers in their homes while mitigating risk for servicers and investors. One type of home retention action is loan modification, in which servicers modify one or more mortgage terms. Another type is a payment plan. In this case, no terms are contractually modified, but borrowers are given time to catch up on missed payments or are allowed to demonstrate the ability to meet amended terms in anticipation of a formal modification.


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