Re-defaults of mortgage modifications at all time highs. In its most recent report for the first quarter of 2019, the Office of the Comptroller of the Currency (OCC) noted that 21% of the most recently modified loans had re-defaulted within six months.Based on Fitch Ratings data, the re-default rate for Fannie Mae loans modified three or more years ago could be approaching 50%. JPMorgan Chase is at 43% and Bank of America is at 41% re-default levels.
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