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Loss Mitigation

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Much Ado About Nothing: Wall Street Weighs In on Subprime Loan Mods 

Jun 06, 2007By

The American Securitization Forum issued loan mod guidelines today, a step I find interesting on oh-so-many different levels, not the least of which is the fact that the ASF’s position paper represents Wall Street’s “best foot forward” thus far in an attempt to unify investor guidelines around loan mods. Or, at least, that’s what this should have been. As we’ll soon see, everything is not as it seems here.