by Moe Bedard
James B. Lockhart III, Director of the Federal Housing Finance Board, has said that “The ASF has taken too long.”
Lockart spoke at the American Securitization Forum’s annual industry conference on Monday. He also said that he was glad to see that the industry is making progress in standardizing loan modifications for borrowers whose mortgage has become unaffordable.
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by Moe Bedard
By Moe Bedard
American Securitization Forum, which represents companies that issue mortgage backed securities, as well as investors, loan servicers and rating agencies, issued a 34 page document outlining guidelines for servicers to follow in streamlining refinancing or loan modifications on adjustable rate mortgages that are scheduled to adjust in the next 2 1/2 years.
ASF Executive Director George Miller [...]
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