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Mortgage servicing these days resembles a huge construction site of ideas, many of which have a lot to do with purchasing nonperforming loans. How do we stop the complex domino effect of mortgage defaults and foreclosures on the economy at large through long-term efficient regulation and loan modifications?
Investors like Residential Credit Solutions, Los Angeles, appear to be reasonably cautious in a constantly changing marketplace. Despite the Obama administration's goodwill and efforts to ease the crisis, both in housing and the economy at large, new regulation and the Troubled Asset Relief Program have generated hope as well as a paralyzing wait-and-see response from both buyers and sellers.
Waiting they may be, but servicers also are coming up with loss mitigation solutions, technology tools and borrower information. Silverstone Investment Group has come up with a do-it-yourself loan modification DVD for homeowners in distress that makes the process more ...
Source: HighBeam Research, Act with Caution.(Special Report)