The current foreclosure crisis has been difficult and unprecedented, and we are far from done.
I encourage every possible effort to try to make this modification track work better because it is an abysmal failure in terms of national p...
I think all the Members of this Committee have constituents who are in the modification process.
I am completely dissatisfied. We will continue the conversation.
So often, we are coming into the story down the road when it has exploded.
OK. So, ballpark, can you tell me between the two institutions or for your institution how many more repurchase--are we talking a billion do...
Thank you.
The situation is that often when folks seek a modification, they are told by the servicer, you need to be delinquent before you start this.
I wish there was, in fact, a rule in place that said the foreclosure track will not be pursued until the modification is completed.
Because of those existing agreements, what you are describing has little practical effect because Fannie and Freddie are telling those servi...
We are much more worried about this than I think perhaps Treasury is, based on your testimony.