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Subprime Lending

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MBA: 235,000 Loan Workouts Initiated During Third Quarter 

Jan 17, 2008By

The Mortgage Bankers Association released the results of a first-of-its-kind survey today that found more than 235,000 workouts were initiated by the mortgage industry during the third quarter of 2007. An estimated 54,000 loans were modified, while servicers established formal repayment plans with another 183,000 borrowers, the MBA said.

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