OK, staying on top of this issue, Forbes report has more details on mortgage modification parts of the plan.
Fannie Mae and Freddie Mac on board, not surprisingly, more taxpayer dollars for them, clearly not based on their past performance.
HUD secretary also on board. Administration officials hit the morning network talk shows saying the impact on foreclosures will begin next month.
It is unclear how the federal bureaucracy will be able to deal with entirely new assignments that quickly.
It is more unclear how the loss mitigation departments of the mortgage companies, which have failed miserably thus far in their voluntary programs, will be able to gear up for what will be an avalanche of applications.
The New York Times also endorses the Administration’s plan to deal with the foreclosure crisis.
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