Countrywide Settlement Spurs BofA to Offer Principal Forgiveness
April 5, 2010
A significant settlement agreement between Countrywide Financial Corp and the Massachusetts Attorney General has led CFC’s parent, Bank of America, to announce principal forgiveness as a priority modification tool for severely underwater mortgage loans. The March 24 settlement between Massachusetts AG Martha Coakley and CFC, a BofA subsidiary, expands on an earlier...
Moves by the Trump administration are disrupting the economy and the federal agencies that deal with the housing market. Bob Broeksmit, president and CEO of the MBA, isn’t sure how it’s all going to play out.
The 10-year Treasury rate is declining and the possibility of a recession is growing.
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