Mortgage Modification Activity—Recent Developments
This very detailed article focuses on recent trends in modification activity in the non-agency securitization market. The authors focus primarily on two trends: the increased share of principal reduction modifications and the increased share of second and subsequent modifications. They show that principal reductions result in higher modification success rates than other modification types, even controlling for pay relief. They also show that second and subsequent modifications have higher re-default rates than first modifications. Finally, the authors focus on the variations in modification activity and modification success rates among subprime servicers.
Evaluating Loan Modifications : 2008 – 2014
1 The views expressed in this paper are those of the authors alone and do not necessarily reflect those of the Office of the Comptroller of the Currency or the U.S. Department of the Treasury.
Fast seismic data compression based on high-efficiency SPIHT
Based on the set positioning in hierarchical tree (SPIHT) algorithm, fast seismic data compression based on the high-efficiency SPIHT (HESPIHT) algorithm is presented. To verify the validity of the algorithm, 10 seismic cross-sections are selected for the experiment. The result shows that the algorithm can reserve the quality of data better, meanwhile improving the efficiency of encoding and decoding.