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Loan Modification
: Mortgage Lender Implode-o-MeterRumors of Negotiations on Settlement of 50 State Attorney General Foreclosure Probe
By Implode-Explode Heavy Industries
As we discuss in other posts today, the day went very badly for the industry. The sudden, albeit small, flurry of ?settlement talks are on? reports on the attorney general front bears all the hallmarks of a banking industry trial balloon being hyped as something further along to try to create the impression that the mess is on its way to being resolved on terms not terribly painful to banks.
The story seems to have started with a rumor on CNBC, which is being treated with more dignity than it deserves, particularly since the supposed source denied it.
Full post as published by Mortgage Lender Implode-o-Meter on November 17, 2010 (boomark / email).
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