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Loan Modification

: Mortgage Lender Implode-o-Meter

"ForeclosureGate" Could Force Bank Nationalization

By Implode-Explode Heavy Industries

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``The banks and other players in the securitization industry now seem to be looking to Congress to snap its fingers to make the whole problem go away, preferably with a law that relieves them of liability for their bad behavior. But any such legislative fiat would bulldoze regions of state laws on real estate and trusts, not to mention the Uniform Commercial Code. A challenge on constitutional grounds would be inevitable.''

Full post as published by Mortgage Lender Implode-o-Meter on November 07, 2010 (boomark / email).

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