Archive for July 12th, 2009


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12
Jul

Letter From Chief Economist For FDIC Takes Exception to Wall Street Journal Article on Failure of Loan Modifications

In a recent Blog Post I commented about how frustrated I was with an article in the Wall Street Journal, “Mortgage Modifying Fails to Halt Defaults.” This article commented on a Fitch Report that 65 to 75% of subprime loans which were modified will become 60 days or more delinquent within 12 months after the [...]