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Loan Modification

: Mortgage Lender Implode-o-Meter

Banks Recruit Investors to Oppose Honest Valuation of Assets; Just how Unprepared are Banks for Major Losses?

By Implode-Explode Heavy Industries

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`` Virtually all the banks are against honest reporting. Wells Fargo is leading the pack because of all the nonperforming Pay Option ARM and problem housing assets on its books. The louder a bank screams, the more unprepared it is to deal with nonperforming loans and mark-to-market valuations of garbage held on its balance sheet.''

Full post as published by Mortgage Lender Implode-o-Meter on August 30, 2010 (boomark / email).

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