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02-02-2008, 06:09 PM #1
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FDIC’s Bair: Subprime Fixes Slow, Defaults Ahead
FDIC’s Bair: Subprime Fixes Slow, Defaults Ahead
Friday, Feb. 1, 2008 5:05 p.m. EST
The mortgage industry has been lax on modifying loans for subprime mortgages, says U.S. Federal Deposit Insurance Chairman Sheila Bair..
So lax that new regulation might result, she told the U.S. Senate.
"Unfortunately, at this point, the available information seems to show that foreclosures continue at an unacceptably high level while true loan modifications are lagging,â€Join our efforts to Secure America's Borders and End Illegal Immigration by Joining ALIPAC's E-Mail Alerts network (CLICK HERE)
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