Many mortgage lenders have efforts in place to get through mortgage loan workouts as fast as possible. This becomes increasingly important as foreclosures continue to rise in the United States.

Unfortunately, not all mortgage loan workouts are moving at a rapid pace. The idea behind mortgage loan workouts is to get the bad mortgages through system in order to start moving on. This can be done through modification, restructuring or changes to repayment plans.

In any case, Calculated Risk reports on the difficulties involved with mortgage loan workouts:

The question becomes whether the securitization rules or trustees
themselves are hindering servicer efforts to work out loans, or whether
servicers prioritize their workload with their portfolio loans first,
then the securitized loans. I would guess it’s a combination in a lot
of cases.