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Loan Modification

: Mortgage Lender Implode-o-Meter

U.S. banks pay lip service to second mortgages

By Implode-Explode Heavy Industries

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``It?s easy to understand why the banks are kicking the issue down the road. According to Amherst Securities, of $1.05 trillion in outstanding second liens, commercial banks hold $767 billion. Bank of America, Citigroup, JPMorgan and Wells Fargo alone hold $442 billion of them.''

Full post as published by Mortgage Lender Implode-o-Meter on March 24, 2010 (boomark / email).

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