Posts tagged as:

securities and exchange commission

The SEC Finally Does Their Job and Puts a Stop to Naked Investing

by Moe Bedard

Wall Street is playing games with our economy and betting on the consumer and also the down fall of many financial institutions. Welcome to the wonderful and highly profitable world known as “shorting” or “hedging”.

The Securities and Exchange Commission (SEC) has finally said enough is enough and issued a moratorium on what is known in [...]

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The SEC – Servicers allowed to modify mortgages where defaults are “reasonably foreseeable,” without jeopardizing the trusts’ off-balance-sheet treatment

by Moe Bedard

There has been a recent change in the air and it looks like the tides are starting to change for the better for those homeowners who are wishing and a hoping to modify their exploding, adjustable rate mortgage.

There has been strong resistance in the recent past with lenders and servicers willingness to work with borrowers in fixing their toxic [...]

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Senator Charles Schumer is Pressing the Big 4 for Loan Modifications

by Moe Bedard

Senator  Charles Schumer sent a letter to the large accounting firms, asking them to educate lenders about the newly understood flexibility of FAS 140 in regards to the loan modification issues and concerns lenders and servicers have expressed to the SEC.  This was just one month after Securities and Exchange Commission chairman Christopher Cox made the announcement more [...]

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Loan Modifications are Given the Green Light by the SEC

by Moe Bedard

The Securities and Exchange Commission has decided that servicers of mortgage-backed securities can start immediately performing loan modifications of subprime loans that may be headed for foreclosure without suffering adverse accounting consequences.
This is great news to borrowers that are trying to stop foreclosure because the SEC controls how and what loan servicers can do in [...]

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