The Incentives of Mortgage Servicers and Designing Loan Modifications to Address the Mortgage Crisis

Lessons from the Financial Crisis: Causes, Consequences, and Our Economic Future

Volumn , Issue , 2011, Pages 231-237

  Cordell, Larry ^a   Dynan, Karen ^b   Lehnert, Andreas ^c   Liang, Nellie ^c   Mauskopf, Eileen ^c  

^a FEDERAL RESERVE BANK OF PHILADELPHIA   (United States)

^b BROOKINGS INSTITUTION   (United States)

^c FEDERAL RESERVE BOARD   (United States)

Author keywords

Government industry program; Job losses; Making home affordable; Mortgage crisis; Mortgage backed securities

Indexed keywords

EID: 84886506490     PISSN: None     EISSN: None     Source Type: Book    
DOI: 10.1002/9781118266588.ch30     Document Type: Chapter

References (5)

1. Private label in this case means securities not issued by Fannie Mae, Freddie Mac, or Ginnie Mae. Most private-label MBS include loans that are subprime, near-prime (or Alt-A), or jumbo prime securities.
2. See www.occ.treas.gov/ftp/release/2009-77a.pdf.
3. See Credit Suisse, "ABX May 2009 Remits Update" (May 27, 2009).
4. The protocol built off a similar protocol developed earlier in the year by the FDIC for IndyMac Bank.
5. Details are provided at www.financialstability.gov.