Loan-Mod Program Seen as Outdated

October 2009
American Banker;10/13/2009, Vol. 174 Issue 187, p7
Trade Publication
The article discusses a Congressional report on efforts by the administration of President Barack Obama to address a mortgage-default crisis in the U.S. The report concludes the Obama initiative is ill-suited to mitigate defaults on prime mortgages and option adjustable-rate mortgages. Representative Jeb Hensarling dubbed the Obama program a failure.


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