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Home » Store » News » Proposed Bailout Prompts Revived Calls for Cramdown

Proposed Bailout Prompts Revived Calls for Cramdown

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Democrats in Congress revived an incendiary cramdown proposal this week during the debate over a proposed $700 billion troubled asset repurchase plan. Lenders maintain their strong opposition to the cramdown proposal, which would allow bankruptcy judges to modify mortgages. The Mortgage Bankers Association’s COO John Courson said the provision would be “wholly unproductive...
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