Wells Fargo is servicing my first mortgage - currently $700K. My mortgage is not backed by Freddie Mac or Fannie Mae (I looked it up with the online tools).
Long story short, I applied for a Making Homes Affordable Loan Modification. (My current mortgage payment is 38% of my monthly gross income). I was denied and told that I have a conventional (rsi?) mortgage that is backed by investors and does not qualify for this government program.
Two questions: What is an RSI mortgage? and what, if any loan modifications are available to someone in this situation?