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Approximately how much does a lender pay to 3rd party loan modification co. for successful modified loans?

What is the standard fee charged to the lender by a 3rd party loan modification company? If the 3rd party loan modification company does not charge the consumer then they must get paid by the lender...so approximately how much do they receive for their services or for each successful loan modified?

Public Comments

1. I'm not really sure..but I warn you to be careful. I work in the mortgage industry and have received e-mails informing me of a killing to be made in the modification of loans. I had one gentleman tout that I could tac on as much as $10k to a modification loan. I would insist on full disclosure of every fee charged by the 3rd party and paid by the lender. It seems Americans have learned very little during this horrific time and will continue to screw over those who can ill afford it. I will not stoop to this level to make a dollar. How these knuckle draggers sleep at night is beyond me. Be vigilante and careful
2. i totally agree with the previous answer. these neanderthals are the same creeps who sold the bad loans in the first place now they are out peddling "help" to people they already screwed over by either giving them a loan in the first place when in all rights and honesty they didn't deserve one or by giving them a loan with a higher profit margin for them (ie pick-a-pays). i also work in the call center for a large mortgage company and we HATE these idiots. we on purpose are nasty to them cuz they are just making the whole problem worse. i personally tell the rep that calls that i won't talk to them and that i don't care if we have an authorization on file, THEY are not the borrower who is financially held responsible and therefore THEY can't make any decisions on their behalf. so i'd say these 3rd party mod companies are just as bad as the original brokers that started this whole mess to begin with.