United States.Congress.House.Committee on Financial Services. Emergency Mortgage Loan Modification Act of 2008 : report (to accompany H.R. 5579) (including cost estimate of the Congressional Budget Office).[Washington, D.C. : U.S. G.P.O., 2008]
This Act states that all mortgage loan pools must be watched by a servicer who will act in the best interest of the security holder at all times. The servicer is forced to maximize profits for the investor no matter what affect it will have on the company unless a prior agreement was reached between the investor and the company. This act also prevents investors from suing servicers who perform their jobs according to the agreements. The act clarifies what role the servicer has specifically, therefore there can be no debate over whether the servicer was performing their job properly. The Mortgage Bankers Association reported 5.82% of all loans on single-family properties outstanding in the fourt quarter of 2007 were delinquent (4). This Act shows that action is being taken in order to try and protect the investors from getting involved once again in securities such as Abacus. This will help my paper because it shows the beginnings of a solution to the problem caused by Goldman Sachs and one way which it can start to be fixed. This is closely linked with a few of my other sources which deal with the convincing of the investors at Goldman Sachs that these securities were reliable.
Brendan, these look like useful sources, but you need to tell me more than just their content. How is the information affecting your concept of your project? How are you incorporating the data? What do you make of it? How do your sources relate to each other? Why are they important? Why should I care about them? Go back and add a few sentences to each one to fulfill those annotation requirements.
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