Looks like the source of funding is Treasury Dpt Tarp funds, not California legislature.
Aside from the small percentage of money that goes toward relocation of borrowers, The rest of the money pretty much goes to the banks.
No brainer that the major servicers are not cooperating with the principal reduction part of the plan. I mean why would they when other parts of the program are essentially government transfer money to the banks to make delinquent/unemployed borrower payments?
