Unintended Consequences: Investor Fallout from the Mortgage Crisis

Brennan, Catherine M.
December 2009
Intervention in School & Clinic;Dec2009, Vol. 45 Issue 3, p1
Academic Journal
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.


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