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Volume 2009 - Number 23

November 6, 2009

Regulators Target Option ARMs for Mods

Option ARMs are facing increased scrutiny from regulators who warn that the mortgages are “ticking time bombs.” California Attorney General Edmund Brown and the House Oversight and Government Reform Committee recently sent separate letters to option ARM servicers in an effort to increase loss mitigation on the mortgages. Last week, Brown called on 10 servicers to detail their plans to assist option...

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