This is communications between the Mortgage Bankers Association and the FASB in December of 2007, which makes clear that the services were not ready to handle loan modifications in large number due to something that's never talked about... accounting requirements. They tried to tell everyone that this wash't going to go well, but Treasury forced them to start without the necessary systems in place.
This is communications between the Mortgage Bankers Association and the FASB in December of 2007, which makes clear that the services were not ready to handle loan modifications in large number due to something that's never talked about... accounting requirements. They tried to tell everyone that this wash't going to go well, but Treasury forced them to start without the necessary systems in place.
This is communications between the Mortgage Bankers Association and the FASB in December of 2007, which makes clear that the services were not ready to handle loan modifications in large number due to something that's never talked about... accounting requirements. They tried to tell everyone that this wash't going to go well, but Treasury forced them to start without the necessary systems in place.