Lenders, Community Groups, Government Work toward Improvements in Mortgage Modification Process

June 18, 2010 – (RealEstateRama) — A consortium of mortgage lenders, community group leaders, and state and federal government officials are moving forward on initiatives that would make the mortgage modification process easier for homeowners, and likely allow more families to stay in their homes as they solve their potential foreclosure problems.Since February, a group that includes community groups like the Brockton Interfaith Community (BIC), the Patrick-Murray Administration’s Office of Consumer Affairs and Business Regulation, the Federal Reserve Bank of Boston, the U.S. Treasury, and 10 banks, has been regularly meeting – including summit meetings on Feb. 19 and April 12 – discussing ways to make the loan modification process work better for homeowners. The group is focusing on three areas