(Reuters) - NEW YORK, May 21 - Little can be done to change the terms of subprime mortgages to prevent foreclosure because of the way loans that were packaged and sold to Wall Street investors, mortgage industry executives said Monday.
Despite calls by lawmakers and regulators for mortgage investors to help borrowers facing foreclosure, the current standards for mortgage finance are just not flexible enough, Michael Marriott, a co-head of Credit Suisse's mortgage group told a mortgage conference.
Read more at Reuters.com Bonds News
Despite calls by lawmakers and regulators for mortgage investors to help borrowers facing foreclosure, the current standards for mortgage finance are just not flexible enough, Michael Marriott, a co-head of Credit Suisse's mortgage group told a mortgage conference.
Read more at Reuters.com Bonds News
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