Bush Administration’s Negotiations With Congress Over Huge Mortgage Intervention Lead to New Servicing Rules
September 25, 2008
While it’s unclear how effective the emerging $700 billion mortgage market rescue mission will be in restoring confidence, the still-emerging landmark program is likely to include expanded loss mitigation requirements for mortgage servicers. The Treasury Department opened the bidding early this week with a bare-bones proposal to buy up to $700 billion of mortgage-related assets...
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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