I am very concerned about the legal issues getting resolved, in part because this poses a huge systemic risk to our banking system as a whole.
So we have so many folks coming to our office in Oregon who over here are working with the servicer to modify their loan...
We have made our new payment for over a year and are still receiving foreclosure notices.
Because of the constituents streaming in our doors with the enormous stress connected with working on a modification...
So, Professor, in that case the financial incentives to pursue foreclosure are not offset by, if you will, defense of th...
I just want to put that forward.
I will just close with this comment, and that is that the perspective presented by major banks before this Committee was...
We all like things to be efficient and move quickly, get resolution for people, clarity for people.
OK. So let me lay it out this way, then. If the four largest banks have reserves for repurchase of about $10 billion...
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...