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Volume 9 - Number 6

March 17, 2010

Mods = Higher Fair Value Losses, Credit Expenses

There’s no question that Fannie Mae and Freddie Mac are vital to what limited success the Obama administration’s Home Affordable Modification Program has seen to date, but it’s coming at a considerable cost to the companies’ bottom lines. During 2009, we completed 200,339 loan workouts and initiated 333,300 trial modifications on Fannie Mae loans under the...

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