TITLE

Unintended Consequences: Investor Fallout from the Mortgage Crisis

AUTHOR(S)
Brennan, Catherine M.
PUB. DATE
December 2009
SOURCE
Intervention in School & Clinic;Dec2009, Vol. 45 Issue 3, p1
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
The article discusses the impact of the mortgage crisis on investors in the U.S. in 2009. It highlights the lawsuit filed by various states against Countrywide Home Loans Inc. and its parent company Countrywide Financial Corp. regarding with its subprime mortgage loans. It notes that the settlement has failed to address the issue that the loans originated by Countrywide that Bank of America agreed to modify were not necessarily owned by Bank of America or Countrywide. It stresses that any moves on reworking the mortgages, either through a modification or a refinance, promises that investors will have a better return on their investment.
ACCESSION #
47901866

 

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