What is modification?

  • (noun): Slightly modified copy; not an exact copy.
    Example: "A modification of last year's model"
    See also — Additional definitions below

Some articles on modification:

Loan Modification In The United States - Home Affordable Modification Program - Purpose
... The Home Affordable Modification Program (HAMP) was established on February 18, 2009 to help up from 7 to 8 million struggling homeowners at risk of foreclosure by working with their lenders ... and the Federal Housing Finance Agency, to create standard loan modification guidelines for lenders to take into consideration when evaluating a ... Program is now looked upon as the industry standard practice for lenders to analyze potential modification applicants ...
Beijing Weather Modification Office
... The Beijing Weather Modification Office is a unit of the Beijing Meteorological Bureau tasked with weather control in Beijing and its surrounding areas, including parts ... The Beijing Weather Modification Office form a part of China's nationwide weather control effort, believed to be the world's largest it employs 37,000 people nationwide, who seed clouds by firing rockets and shells ...
Mk 92 Guided Missile Fire Control System - Versions
... Mk 92 modification 0 is an early version of the system for the USN ... Gun and missile control 1 air engagement channel 2 surface-search, TWS channels Mk 92 modification 1 is the version used by United States Coast Guard cutters ... channel 2 surface-search, TWS channels Mk 92 modification 2 is the version that was originally fit to USN Oliver Hazard Perry class guided missile frigates ...
Loan Modification In The United States - Home Affordable Modification Program - Loan Modification Terms and Procedures
... test will compare the net present value of cash flows with modification and without modification ... the net present value of expected cash flow is greater in the modification scenario the servicer must modify absent fraud or a contract prohibition ... The modification sequence requires first reducing the interest rate (subject to a rate floor of 2%), then if necessary extending the term or amortization of the loan up to a maximum of 40 years ...
Loan Modification In The United States - Streamlined Modification Process
... The adoption of this streamlined modification framework is an additional tool that servicers will now have to help avoid preventable foreclosures ... This framework will not only help homeowners who receive a streamlined modification, but will also further address servicer capacity concerns by freeing up ... a larger number of servicers, the Streamlined Modification Program does differ from the IndyMac model in a few areas ...

More definitions of "modification":

  • (noun): An event that occurs when something passes from one state or phase to another.
    Synonyms: change, alteration
  • (noun): The grammatical relation that exists when a word qualifies the meaning of the phrase.
    Synonyms: qualifying, limiting
  • (noun): The act of making something different (as e.g. the size of a garment).
    Synonyms: alteration, adjustment