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Loan Modification
: Mortgage Lender Implode-o-MeterFDIC Conducting Stress Test Exams - "Shock Testing 400 Basis Points Up and Nothing Down"
By Implode-Explode Heavy Industries
Right now they are all thinking there is nothing to lose from this. The Fed or Congress will bail them out at taxpayer expense if they get in trouble.
Then, when this does get out of control and blows sky high, they will all scream, "no one could possibly have seen it coming".
Full post as published by Mortgage Lender Implode-o-Meter on February 26, 2011 (boomark / email).
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