Yep, I read them and these are the statements that make me highly doubtful:
“It’s unclear if the program has yielded results thus far, although most industry insiders that spoke with HW remain skeptical; investors are also watching closely, to determine what the modification effort will mean for their investments.”
“If the FDIC follows its stated plan, which is to maximize loan value or recovery value, a good chunk of these mods won’t go through anyway, despite the press given to it,” one senior banking official told HW last month, when the plan was announced. “The FDIC will find out what every other servicer already knows: for one thing, the majority of borrowers will simply ignore the offer. For another, those that do step up will give credible proof that they cannot afford their homes unless the FDIC were to undercut home value by 40 or 50 percent from current levels.”
