According to a recent loss mitigation article, many mortgage service companies manage mortgage loans for other investors in most cases. Many home loan servicers also manage Government Sponsored Enterprises, private investors owning securities collateralized by the mortgage loans and whole home loan investors. Each investor type has different standards for eligible loan modification agreements. The GSEs have authorized loss and mitigation programs for seriously delinquent home loans; however some home mortgages owned by the GSEs may be modified based on eligibility standards similar to those used for private investors. The GSEs recently announced the adoption of more streamlined modification plans that apply many of the features of the FDIC Mortgage Loan Modification Program model.

Read the complete loss mitigation article > Loan Modifications Determining Eligibility with FDIC
http://blog.homeforeclosureadvisors.com/2008/12/01/loan-modifications-determining-eligibility-with-fdic/