Not sure how they will handle it pr. Still though, it seems logical that pushing them through the mill one by one with scrutiny is an absolute must. Pushing them through in a boiler room manner like you are implying is what got them in trouble in the first place. It would seem to me that allowing loans to be rewritten (which translates to a hit to the return for the investors) would imply that the investors would demand that in exchange for giving up that return, that a comprehensive wunderwriting process is completed for those same rewritten loans. Just my guess…
The loan workout package is pretty much identical to the short sale package. When my most recent clients tried to get a loan workout done, and the lender in the end refused to rewrite the loan, they did not need to resubmit a short sale package because the entire file was simply forwarded to the asset manager.
