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SubPrime Lending May 15, 2008
• MBA's Kempner: HOPE NOW Study Demonstrates Sheer Volume of Troubled Borrowers Being Helped by Servicers Across the Country
Jonathan L. Kempner, President and Chief Executive Officer of the Mortgage Bankers Association (MBA), issued the following statement in response to the study released today by HOPE NOW which found that since July 2007 approximately 1,035,000 homeowners have received loan workouts that have enabled them to stay in their homes. The study also found that loan modifications made up nearly 50% of subprime loan workouts in January compared to 35% in the fourth quarter and 19% in the third quarter of 2007. -- Mortgage Bankers Association of America,John Ferber,Washington District of Columbia 03/05/2008
• MBA Welcomes Senate Rejection of Bankruptcy Measure
David G. Kittle, CMB, Chairman-elect of the Mortgage Bankers Association (MBA) today applauded the U.S. Senate's vote to prevent debate from proceeding on a bill that would reform the bankruptcy code and increase costs for consumers to secure mortgages. -- Mortgage Bankers Association of America,John Ferber,Washington District of Columbia 03/05/2008
