The Government’s New Loan Modification Plan

Posted on February 19, 2009. Filed under: Bailout, Banking, Finance, Loan Modification | Tags: , |

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 way that’s good for homeowners.”

President Barack Obama today announced a $275 billion program that includes cutting mortgage payments for qualified borrowers and expanding the role of Fannie Mae and Freddie Mac in curbing foreclosures.

Dimon also said he’s “concerned” the bank may lose employees because of new U.S. restrictions on executive pay. He said he would like to see more details and clarifications about how the rules could apply.

via Worldwide.


Make a Comment

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Liked it here?
Why not try sites on the blogroll...

%d bloggers like this: