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Loan Modification

: Mortgage Lender Implode-o-Meter

Board to Ban Accounting Practice That Helped Lending Proliferate

By Implode-Explode Heavy Industries

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"The end is nearing for an accounting trick destined to be remembered as a hallmark of the housing boom, because it allowed financial firms to conceal a vast expansion in their lending from regulators and investors."

Full post as published by Mortgage Lender Implode-o-Meter on May 18, 2009 (boomark / email).

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