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Loan Modification

: Mortgage Lender Implode-o-Meter

Bank Of Spain Tells Lenders To Take 30% Loss Provisions On Foreclosed Real Estate Held For Over Two Years

By Implode-Explode Heavy Industries

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" The staggered loss provision schedule will call for a 10% loss assumption for real estate acquired in foreclosures, 20% for real estate held for more than a year, and 30% for anything held for more than 2 years."

Full post as published by Mortgage Lender Implode-o-Meter on May 27, 2010 (boomark / email).

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