Relevant:
- Donovan’s Folly: HUD Secretary’s Justification for Keeping Housing Market Going Neglects Clear Risks
- Putting the Foreclosure Paperwork Scandal in Perspective
- Borrowers to get $8.5 billion in foreclosure and mortgage settlement
- U.S. Bank Regulators May Impose Fines, Seek Penalties in Foreclosure Mess
- Excessively delaying Fannie Mae foreclosures will now cost servicers
2010-10-07 — zerohedge.com
``it will now become "every man, sorry, banker for themselves" as each party attempts to preserve as much capital as possible given the new development: juniors will push for an indefinite foreclosure halt, seniors will seek an immediate resumption of the status quo, while the servicers stand to get stuck with billion dollar legal and deficiency fees if it is found that "standard industry practices" were not followed.''
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