Mortgage Modification

Wilbur Ross: Obama Foreclosure Fix Not Enough 

Heated debates flooded market analyst inboxes and traders’ IM channels today on the issue of whether the Obama administration’s newly-announced plan to subsidize foreclosures with credits to servicers, lenders, and borrowers at risk of losing their home would be enough turn around the nation’s ailing housing and mortgage markets. While the jury is still clearly out, at least one legendary investor isn’t counting on the government’s plan to have the sort of impact some are expecting.