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Loan Modification

: Mortgage Lender Implode-o-Meter

Merrill?s Downfall Provides a Disclosure Lesson

By Implode-Explode Heavy Industries

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"Barely visible to any but a few inside Merrill, Pyxis was created at the height of the mortgage mania as a sink for subprime securities. Intended for one purpose and operated off the books, this entity and others like it helped Merrill obscure the outsize risks it was taking."

Full post as published by Mortgage Lender Implode-o-Meter on August 10, 2010 (boomark / email).

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