FDIC Tests Loan Modification Strategy through IndyMac Thrift
August 25, 2008
The Federal Deposit Insurance Corp. is using distressed IndyMac Federal Bank as a model for a newly developed loan modification strategy it hopes the mortgage industry would adopt to help at-risk borrowers avoid foreclosure and maximize recovery for mortgage investors. The new aggressive program is aimed at troubled Alt A loans that the agency assumed as receiver of the former IndyMac...
Some SWFs in other countries have extensive ownership interests in major corporations and sweep much of their profits into state coffers.
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