Tuesday, September 4, 2007

Fed urges loan companies to help borrowers - Mortgage Mess - MSNBC.com

Fed urges loan companies to help borrowers - Mortgage Mess - MSNBC.com:

"WASHINGTON - The Federal Reserve and other banking regulators issued special
guidance Tuesday urging loan service companies to work with borrowers in danger
of defaulting on their home mortgages."


It really is in the best interest of the loan service companies to work with borrowers to get the payments made. They played a key role in getting people into those loans, and maybe if they had not sold them so quickly, they would not be so exposed.

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