Federal officials plan to sue the credit ratings agency, Standard & Poor's for fraud. S&P gave top ratings to many mortgage-backed securities in the years leading up to the financial crisis in 2008. The securities turned out to be far riskier than anyone imagined. S&P said the suit is without factual or legal merit.
Mortgage modification is a process where the terms of a mortgage are modified outside the original terms of the contract agreed to by the lender and borrower (i.e. mortgagor and mortgagee). In general, any loan can be modified.Good to be part of that.
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