Downsizing even more is a given and these companies, especially Countrywide can do it in a heartbeat. Many companies have been training their staff on handling foreclosures for some time. It’s finally at that point. They don’t want it but most lenders are going to end up being the largest homeowners by default unless they can give away these loans at 50-60 cents on the dollar. Better to recoup some money now than carry them for years and tie up their own interest-earning capital.
