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Loan Modification
: Mortgage Lender Implode-o-MeterBanks Put Off Plans To Sell Toxic Assets
By Implode-Explode Heavy Industries
The rush of capital into the banking industry over the past month is allowing firms to postpone the painful process of selling devalued mortgages and other troubled assets, a step many financial experts still consider necessary to fully revive lending.
The Federal Deposit Insurance Corp. said Wednesday that it would suspend indefinitely the launch of a program to finance investor purchases of banks' troubled loans because few companies were interested in selling.
Full post as published by Mortgage Lender Implode-o-Meter on June 05, 2009 (boomark / email).
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