As Financial Bailout Hangs, Distressed Loan Buyers Wait

"The failure of a key vote to pass bailout legislation on Monday has more than a few distressed mortgage investors stuck in a holding pattern, as they await a proposal that more so than most directly impacts their business models. Many of these investors and traders as of late have focused their efforts thus far on negotiating purchases of sub and non-performing whole loans from troubled lenders and servicers, and say that while they know the Treasury’s proposal will have a dramatic effect on their business, it’s anyone guess what effect that may ultimately be."