Industry NewsMortgage

Paulson says servicers, interest rates helping ARM borrowers

Administration digs in heels against bailout
Published on Mar 3, 2008

Get Inman via Facebook Messenger
Our top headlines delivered once a day.
by CareyBot

Cuts in short-term interest rates have reduced the payment shock of adjustable-rate mortgage resets, and although foreclosure starts continued to grow in January, loan servicers increased the number of loan modifications at a faster pace.

That was the word from Treasury Secretary Henry Paulson on Monday, as he restated the Bush administration's arguments against a government bailout of mortgage lenders before the National Association of Business Economists.

Comments