Drunkle I don’t work in the lending industry so I “sincerely” do not know.
As I wrote in my post… “Just my guess”
I don’t think I made any statements as to have insights as to knowing how those particular departments within the lending industry works.
Also why would someone look for alternative higher priced financing options, when the lender comes to them and offers something that could be a lower cost option. Similarly it would seem to me that the primary lender would rather not have other parties holding trust deeds on the home.
Finally Counselor thanks for portraying the terminology more correctly. The loan modifications will be as significant (pain reducing to the owner) as the entity servicing the loan can make them subject to whatever restrictions they may be under if they were sold as an MBS.
