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Home » Store » News » Treasury Calls for Second-Lien Servicing Reforms

Treasury Calls for Second-Lien Servicing Reforms

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The Obama administration’s proposal for reform of the housing finance market included a number of proposed reforms for the servicing of second liens. The administration suggested that second liens have prevented modifications on first liens. “We should reduce conflicts of interests between holders of first and second mortgages and improve transparency for lenders and borrowers regarding the total debt secured by a given piece of property,” according to the white paper issued this month by the…
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