Treasury considers changing mortgage-modification test
The Treasury Department is looking into altering its "net present value" test, which is used to determine whether modifying a mortgage or foreclosing on the property would be more beneficial to the lender and bond investors. "We're looking at the NPV model to see whether there should be some changes" that would result in more mortgage-principal write-downs, said Seth Wheeler of the Treasury. "While no decisions have been made, no changes are imminent, we're certainly taking a very, very serious look."
Bloomberg | 02/02
This story published in CPA Letter Daily on 02/03/2010
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