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Loan Modification

: Mortgage Lender Implode-o-Meter

FDIC to Issue Bonds Backed by Residential Mortgages

By Implode-Explode Heavy Industries

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"The FDIC will back about 85 percent of bonds created for the offering and it may not sell the deal?s junior-ranked notes, which will lose principal first amid any defaults on the underlying loans, David Barr, an agency spokesman, said."

Full post as published by Mortgage Lender Implode-o-Meter on July 23, 2010 (boomark / email).

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