Feds To Lean On Loan Servicers With "SWAT Teams" In Attempt To Get More Mortgage Modifications

The Wall Street Journal reports:

• The Treasury Department announced plans Monday to beef up its foreclosure-prevention effort by pressuring mortgage companies to complete more loan modifications. [...] The Treasury said Monday that it would send "SWAT teams" to the largest mortgage servicing companies and talk twice a day with mortgage executives to boost their success rates.

For more, see Some Borrowers Find Little Relief.

See also:

• The New York Times: Treasury Presses Banks for Mortgage Relief,
• Bloomberg: Lenders Face Sanctions for Failed Loan Modifications.