Volume 25 - Number 42
October 30, 2008
Industry Lobbyists Warn that Without a Fight, Cramdown Is Likely as Soon as This Year
“This is the bill that will not die,” Jason Cole, executive director for federal affairs at UBS Americas, said of proposed cramdown provisions being floated in Congress. The industry’s battle against allowing bankruptcy judges to reduce mortgage debt could end as soon as this year, according to lobbyists at the Mortgage Bankers Association’s annual convention last week in San Francisco...
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