Mortgages Are Back in the Headlines

by Marilou Moursund on October 19, 2010

in Banks,Debt,Residential Real Estate

The financial sector is down today on more scrutiny of the foreclosure problems on the part of major lenders.  Many lenders imposed a moratorium on foreclosures in order to review their paperwork and processes.  Bank of America and GMAC that they were going to resume foreclosure proceedings.  The entire concept of securitization and property rights is also being debated.  Major lenders formed a company called Mortgage Electronic Registration Systems, Inc, or .  This foreclosure crisis will continue to drag out the recovery in the housing market.

Update: Pimco, Blackrock, and the New York Fed are seeking to make .

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