Do You Need A Treasury Added Carrington Mtge Svcs To Loan Modification Plan ?

WASHINGTON (Dow Jones)--The U.S. Treasury Department has added another mortgage servicer to the roster of those that will receive incentive payments to modify terms of existing mortgages.

The Treasury on Monday signed up Carrington Mortgage Services to participate in the Obama administration's mortgage loan modification plan. The Treasury estimates that incentive payments to Carrington will be around $195 million. That figure includes incentive funds that would be used to pay down borrowers' loans.

-By Meena Thiruvengadam, Dow Jones Newswires; 202-862-6629; meena.thiruvengadam@dowjones.com