Comes with TARP Reform: Congress Mulls Loss-Sharing in Loan Modification Legislation
January 16, 2009
Congress is considering legislation that would establish a systematic foreclosure prevention and mortgage modification program, including federal loss-sharing with lenders and modification incentives for mortgage servicers. Introduced in the House by Rep. Barney Frank, D-MA, H.R. 384, the “TARP Reform and Accountability Act of 2009,” would create a systemic...