by Moe Bedard
By Moe Bedard
Under the cover of the cramdown bill another important piece of legislation was passed today, a bill that protects lenders and servicers from lawsuits if they modify or refinance their client’s loans. This bill, which passed with an overwhelming majority in the senate (91-5), is referred to as the safe harbor bill. Essentially, [...]
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by Moe Bedard
By Moe Bedard
Major banks except Citi have formally cut off all negotiations with the Senate in an effort to limit even further the scope of the cramdown bill. Senators from both sides of the isle have given up hope on further developments as well. Bloomberg’s report on the cramdown bill today seems like the last [...]
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