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Loan Modification

: Mortgage Lender Implode-o-Meter

Fed Rejects AIG Attempt To Repurchase Toxic Maiden Lane II Loans, Will Auction

By Implode-Explode Heavy Industries

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``... the Fed has rejected the less than arms-length offer, and instead is opening up the portfolio of toxic loans to popular bidding. That other investors will trickle in is great, yet it is merely another confirmation that all funds are once again scrambling after yield since nobody has any hope of seeing the loans through maturity, and is merely a ploy to capture a few basis points before the current credit bubble implodes.'' read more

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Full post as published by Mortgage Lender Implode-o-Meter on March 31, 2011 (boomark / email).

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