Investor Sues to Block Mortgage Modifications (BusinessWeek Online)

[riky]

Investor Sues to Block Mortgage Modifications
    (BusinessWeek Online)

 


BusinessWeek Online - The battle over the mass modifications of troubled mortgages has begun in earnest. On Dec. 1, William Frey, a private investor in mortgage-backed securities, filed a lawsuit in New York State Supreme Court alleging that the proposed modification of some 400,000 home loans originally underwritten by the defunct lender Countrywide Financial is illegal.


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