Bay State AG, Investor Agree to Modify Fremont’s ‘Unfair’ Loans
August 11, 2008
Massachusetts borrowers who got “structurally unfair” hybrid adjustable-rate mortgages from a former California subprime mortgage lender will have their interest rates permanently reset to the introductory rate. The announcement was made by MA Attorney General Martha Coakley, who signed an agreement July 31 with the purchaser of the loans, WMD Capital Markets...
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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