Wednesday, April 23, 2008

Not Keeping Up

The State Foreclosure Prevention Group (SFPG), a confab of state attorneys general and bank regulators, concluded yesterday that efforts of subprime mortgage servicers to respond to mortgage deliquencies are going nowhere. Government and industry sponsored programs "have not translated into meaningful improvement in foreclosure prevention outcomes" notes SFPG's report issued yesterday. Loan servicers are modifying more troubled loans, but the number of loans in trouble is increasing even faster.

This steel, grass lined wheel was designed by Dalhousie School of Architecture students David Gallagher, Kevin James and Jacob Jebailey. Photo credit to Andre Forget.

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