Mortgage bankers celebrate victory

Prediction: they will not make one single additional cent for attempting to force insolvent borrowers to pay back all the principal on their over-valued debt. In fact, they'll probably lose money on the overhead costs of foreclosures and drawn out loan modification negotiations later.

To the Mortgage Banker's Association: you are one sick lobbying group. Good luck on those two headquarters mortgages, by the way.

Glenn Greenwald has more dirt.