Did the safe harbor not provide enough protection to disconnect the foreclosure track from the modification track?
It is not certainly only shocking, but it is one example of how banks have mishandled both foreclosures and mortgage mod...
And that just cannot continue to happen, Mr. Chairman.
I have serious concerns about that process.
I think we are going to have a tsunami of foreclosures.
I think it is important that you flagged it in your testimony and that we continue to pay attention to it in a Congressi...
Thank you for your leadership on Dodd-Frank, a huge effort to try to stabilize our financial sector.
That does not seem to be working in a way that we want it to.
We are much more worried about this than I think perhaps Treasury is, based on your testimony.
Because of those existing agreements, what you are describing has little practical effect because Fannie and Freddie are...
I wish there was, in fact, a rule in place that said the foreclosure track will not be pursued until the modification is...
The situation is that often when folks seek a modification, they are told by the servicer, you need to be delinquent bef...
Thank you.
OK. So, ballpark, can you tell me between the two institutions or for your institution how many more repurchase--are we ...
So often, we are coming into the story down the road when it has exploded.
And that would not be because the number of folks falling into foreclosure action is declining, so to what do you attrib...
So essentially, you say when there is recognition that a modification cannot be completed, then we need to push through ...
Thank you for noting that.
