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Author: Ryan Ward | April 9, 2008
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Ryan -
Just checking out this feature. Would you mind responding so that I can see how it works?
This would be an answer…
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Ryan, Could you find out the word Mo-Mod when talking about massive mortgage modifications. I heard this on Fox today and Clark Howard show, it was mentioned after Paulson was talking. I looked it up on Google and a firm called Smithfield and Wainwright popped up. I got a funny feeling this is what Paulson and Bair are talking about, could you find out. We need help out here, I don’t want to lose any more property value!
Susan,
the best I can find on this is that it is simply a trademarked term by Smithfield and Wainright that they are marketing as their mortgage modification plan. From http://www.tradingmarkets.com/.site/news/Stock%20News/1908402
Spokesperson Laura Parrish says, “This is the key ingredient that our team of experts have been working on to solve the mortgage foreclosure crisis in the United States. Banking and mortgage experts have agreed that Smithfield&Wainwright’s patent-pending business methodology is the most realistic approach to solving the mortgage foreclosure crisis facing homeowners. Mo-Mod provides financial institutions the necessary vehicle to address illiquid assets off their balance sheets.”
Topics: News |
Hey all, just playing around a little…really slick. Love the top nav. blog organization…