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Loan Modification
: Mortgage Lender Implode-o-MeterBanks Pressed on Sour Home Loans
By Implode-Explode Heavy Industries
Big U.S. banks are facing legal pressure to make up for losses tied to pools of soured low-end mortgage loans.
In the latest effort, a group of investors in 2,300 mortgage securities worth roughly $500 billion is seeking to force several banks that originated or are now servicing faulty subprime-mortgage loans to repurchase or modify them.
Full post as published by Mortgage Lender Implode-o-Meter on September 23, 2010 (boomark / email).
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