Loan Modification Crusade Gathers Strength as FDIC Fleshes Out Plan for Non-GSE Mortgages
November 21, 2008
The Federal Deposit Insurance Corp. is drumming up considerable political support for its proposal to guaranty modified loans in subprime and Alt A MBS, but the program may be put on hold until the Obama administration takes over in January. FDIC Chairman Sheila Bair this week won informal support from many Democrats on the House Financial Services Committee for her...