Lenders Rally Behind Loan Modification Plan
The U.S. Treasury Department on Wednesday launched the Making Home Affordable program, which was announced recently by President Barack Obama. The program’s two branches — refinance and modification — are estimated to apply to some 9 million homeowners either behind on payments or at risk of falling behind due to dropping home values, job loss, [...]
Read Full Post | Make a Comment ( None so far )The Government’s New Loan Modification Plan
Feb. 18 (Bloomberg) — JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said the government’s new housing plan was “comprehensive” and would help the bank modify more loans.
“The plan is good and strong, comprehensive and thoughtful,” Dimon, 52, said in an interview today. “I think it will be successful in modifying mortgages in a [...]
U.S. Approves Plan to Help Citigroup Weather Losses
Citigroup executives presented a plan to federal officials on Friday evening after a weeklong plunge in the company’s share price threatened to engulf other big banks. In tense, round-the-clock negotiations that stretched until almost midnight on Sunday, it became clear that the crisis of confidence had to be defused now or the financial markets could [...]
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