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Loan Modification

: Mortgage Lender Implode-o-Meter

Broader Servicer Safety Net Needed: Desoer

By Implode-Explode Heavy Industries

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"President Barack Obama?s Making Home Affordable modification plan lacks critical servicer protection laws needed to reach the maximum 3m to 4m borrowers touted as potentially eligible, Bank of America?s Barbara Desoer tells Bloomberg. Lawmakers additionally must draft crucial legislation to shield servicers from lawsuit by holders of securitized bonds."

Full post as published by Mortgage Lender Implode-o-Meter on April 28, 2009 (boomark / email).

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