Loan Modification Forum - LoanSafe.org - View Single Post - Final Housing Bill Passes House, Bush to Sign into Law

ccsint · 07-26-2008, 02:55 PM

Hi Moe,

I read somewhere that part of the bill exempts servicers from being sued by investors because of a modification. If this is true, wouldn't this potentially lead to increased modifications or principal reductions? I'll find a link if needed.

Also, on the participation front, I read this internal Bank of America document a while back - http://www2.nationalreview.com/dest/2008/06/20/bofa.pdf.

It essentially is very supportive of the bill. It seems like they are in favor of the bill, but if nobody participates then I think the next bill that goes through congress won't be so "voluntary".

Thanks again,

ccsint

07-26-2008, 02:55 PM	#30 (permalink)
ccsint Senior Member Join Date: Jan 2008 Posts: 45	Re: Final Housing Bill Passes House, Bush to Sign into Law Hi Moe, I read somewhere that part of the bill exempts servicers from being sued by investors because of a modification. If this is true, wouldn't this potentially lead to increased modifications or principal reductions? I'll find a link if needed. Also, on the participation front, I read this internal Bank of America document a while back - http://www2.nationalreview.com/dest/2008/06/20/bofa.pdf. It essentially is very supportive of the bill. It seems like they are in favor of the bill, but if nobody participates then I think the next bill that goes through congress won't be so "voluntary". Thanks again, ccsint