Relevant:
- Mortgage Investors Back Government's New FHA Refi Plan
- Mortgage Settlement Yields $50B of "Aid"; But Not All Aid Dollars Equal
- Mortgage Fraud Whitewash: $20 Billion “Get Out of Jail Free†Settlement Floated
- Quelle Suprise! Banks Can't Afford Principal Reductions, Even On Seconds
- Asset-Backed, Commercial-Mortgage Spreads Met `Ebola'
2010-03-09 — ft.com
"A group of investors in mortgage-backed bonds dubbed the Mortgage Investors Coalition (MIC) recently submitted to Congress a plan to overhaul the refinancing of underwater borrowers by writing down the principal balances of both first and second mortgages. The confederation of insurers, asset managers and hedge funds hope to break a logjam between Washington DC and the four megabanks with the most exposure to writedowns on second lien mortgages, including home equity lines of credit."
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