A plan to help homeowners avoid foreclosure was good, in principle. In practice, it’s pushed the mortgage business toward yet another potential nightmareAnother swindle from the industry, repeating previous bad behavior in a diffeernt key.
Matt Taibbi
The Bailout Miscalculation That Could Crash the Economy
1 comment:
Mnuchin told the servicers to identify the mortgages that get the deferments and the GSEs are going to buy them back... GSEs then wait till the deferment period is over then reissue MBS with the deferred mortgages in them ...
This is the same thing that happens with any refinance of a mortgage...
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