Creating Borrower Rights to With Respect to Concessionary Loan Modifications February 7, 2011 Brian...
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![Page 1: Creating Borrower Rights to With Respect to Concessionary Loan Modifications February 7, 2011 Brian D. Boyle.](https://reader035.fdocuments.us/reader035/viewer/2022081602/551403e5550346ec488b4a5a/html5/thumbnails/1.jpg)
Creating Borrower “Rights” to With Respect to Concessionary Loan Modifications
February 7, 2011
Brian D. Boyle
![Page 2: Creating Borrower Rights to With Respect to Concessionary Loan Modifications February 7, 2011 Brian D. Boyle.](https://reader035.fdocuments.us/reader035/viewer/2022081602/551403e5550346ec488b4a5a/html5/thumbnails/2.jpg)
Slide 2
Source: Lender Processing Services, December 2010 Mortgage Monitor
![Page 3: Creating Borrower Rights to With Respect to Concessionary Loan Modifications February 7, 2011 Brian D. Boyle.](https://reader035.fdocuments.us/reader035/viewer/2022081602/551403e5550346ec488b4a5a/html5/thumbnails/3.jpg)
Slide 3
Source: Lender Processing Services, December 2010 Mortgage Monitor
![Page 4: Creating Borrower Rights to With Respect to Concessionary Loan Modifications February 7, 2011 Brian D. Boyle.](https://reader035.fdocuments.us/reader035/viewer/2022081602/551403e5550346ec488b4a5a/html5/thumbnails/4.jpg)
Slide 4
Source: Lender Processing Services, December 2010 Mortgage Monitor
![Page 5: Creating Borrower Rights to With Respect to Concessionary Loan Modifications February 7, 2011 Brian D. Boyle.](https://reader035.fdocuments.us/reader035/viewer/2022081602/551403e5550346ec488b4a5a/html5/thumbnails/5.jpg)
Slide 5
![Page 6: Creating Borrower Rights to With Respect to Concessionary Loan Modifications February 7, 2011 Brian D. Boyle.](https://reader035.fdocuments.us/reader035/viewer/2022081602/551403e5550346ec488b4a5a/html5/thumbnails/6.jpg)
Slide 6
Source: OCC/OTS Mortgage Metrics Report, Third Quarter 2010
![Page 7: Creating Borrower Rights to With Respect to Concessionary Loan Modifications February 7, 2011 Brian D. Boyle.](https://reader035.fdocuments.us/reader035/viewer/2022081602/551403e5550346ec488b4a5a/html5/thumbnails/7.jpg)
Slide 7
Source: OCC/OTS Mortgage Metrics Report, Third Quarter 2010
![Page 8: Creating Borrower Rights to With Respect to Concessionary Loan Modifications February 7, 2011 Brian D. Boyle.](https://reader035.fdocuments.us/reader035/viewer/2022081602/551403e5550346ec488b4a5a/html5/thumbnails/8.jpg)
Slide 8
Source: OCC/OTS Mortgage Metrics Report, Third Quarter 2010
![Page 9: Creating Borrower Rights to With Respect to Concessionary Loan Modifications February 7, 2011 Brian D. Boyle.](https://reader035.fdocuments.us/reader035/viewer/2022081602/551403e5550346ec488b4a5a/html5/thumbnails/9.jpg)
Slide 9
Housing Expenses Modification Short Sale Foreclosure
Housing cash flows for “typical” underwater borrower
Modified monthly mortgage payment
$10,800 (12 months at $900)
$0 $0
Moving expense $0 $2,000 $2,000
Relocation assistance $0 ($3,000) ($2,500)
Monthly rental payment $0 $7,700 (7 months at
$1,100)
$0
12 month prospective housing expense
$10,800 $6,700 ($500)
Borrower Economics: Foreclosure vs. Alternatives
![Page 10: Creating Borrower Rights to With Respect to Concessionary Loan Modifications February 7, 2011 Brian D. Boyle.](https://reader035.fdocuments.us/reader035/viewer/2022081602/551403e5550346ec488b4a5a/html5/thumbnails/10.jpg)
Contact Me With Questions
Brian D. Boyle
O’Melveny & Myers LLP
1625 Eye Street NW
Washington, DC 20006
202-383-5327
Slide 10