Get this, the government entities, which are currently wringing their hands and saying they can’t persuade banks to write down principal amounts in mortgage modification, had absolutely zero qualms about setting up mortgage securitizations and creating foreclosure mills.
|By: Cynthia Kouril Thursday June 10, 2010 8:24 pm|
Country Wide (or rather, its parent company Bank of America) has to pay an FTC fine for ripping off homeonwers in distress. A fine of only 2 ents per $100 dollars of its enterpise value. Cry me a river.