Thomas Marano, CEO of Residential Capital, says his company supports the streamlined mortgage modification plan as espoused by the government-sponsored enterprises and the Federal Housing Finance Agency. He noted that ResCap has held 4,300 face to face homeownership counseling sessions with troubled borrowers whose loans are serviced by the company this year. It has also helped 251,000 customers avoid foreclosure, Mr. Marano said. "Through a combination of outbound calls, letters and home visits, we have achieved a 14% customer contact rate in an effort to work with our customers and preserve homeownership."
Processing Content
