AgentIndustry News

Fed chief: Give servicers more leeway to do workouts

Bernanke urges lenders to allow principal write-downs
Published on Mar 4, 2008

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by CareyBot

With many homeowners "under water" on their mortgages, loan servicers need to make more permanent loan modifications — including write-downs of principal — rather than relying on temporary repayment plans, Federal Reserve Chairman Ben Bernanke said Tuesday. Loan servicers are ...