The Real Deal Miami

Obama asks mortgage servicers to do more

July 10, 2009 12:24PM

In a letter sent Thursday to companies participating in the government’s mortgage modification program, the Obama administration urged mortgage servicing companies to work faster to modify mortgages. The program has offered financial incentives to the 25 companies that have agreed to participate. So far, more than 270,000 borrowers have been able to modify their mortgages through the program. But the administration wants the program to help four million homeowners.