| Critics last night welcomed the move but baulked at the idea that the lender has had a 'Road to Damascus moment' over its ethics. |
| These loans are issued by the federal government, instead of through a third-party lender. |
| The company told the inquiry that no commercial lender would support such a loss-making business and it would be forced into liquidation. |
| In place of the bank lender, the master servicer now holds the power to rework the loans. |
| However, securitization may not get a lender completely off the hook in the eyes of credit analysts. |
| In fact, I'd be paying the majority of my take-home pay to my mortgage lender for quite some time! |
