Litton Loan Servicing Signs Treasury Pact for Federal Loan Modification Program

Litton Loan Servicing announced it has signed the agreement with the U.S. Department of the Treasury to participate in the Home Affordable Modification Program (HAMP).

Since March, Litton has offered more than 38,000 modifications to struggling homeowners using terms in accordance with the broad principles of HAMP, and has built infrastructure to fully implement the program.

"Our company has used modifications as the primary method of helping homeowners avoid foreclosure. In the 12 months prior to the announcement of the Home Affordable Modification program, we modified more than 44,000 loans, representing about 10 percent of our loan portfolio. As the details of the federal program emerged, we continued to modify loans, and by adopting this program, we will continue to make every effort to keep homeowners in their homes," said Larry B. Litton, Jr., Litton's president and CEO.

Houston-based Litton Loan Servicing is a mortgage servicing company specializing in loss mitigation and default management for residential loans.

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