Pressure Builds on Servicers to Jump on Loan Mods; Research Suggests Re-defaults Better than Expected
October 2, 2008
Mortgage securities investors and MBS servicers can expect more pressure from public policy makers to increase the pace of loan modifications and other strategies to slow the rising rate of mortgage foreclosures. It has been a touchy subject for the MBS market since investors at different levels of the securitization waterfall stand to benefit, or be adversely affected by loss...