Securities and Exchange Commission

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SEC: Fast-Tracking Loan Mods Won’t Jeopardize Trust Status 

Jan 09, 2008By

The Securities and Exchange Commission has given a green light to the subprime ARM rate freeze, saying that “fast-tracked” loan modifications under the HOPE NOW plan won’t jeopardize the status of mortgage securitization trusts. The SEC’s Office of the Chief Accountant said in a Jan. 8 letter that the agency would not object to the plan, but that it wants more details from banks and others about loan modifications in regulatory filings.

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