Report on Racial Disparities in Home Preservation Rates
WHEREAS, mortgage foreclosures in 2007 and 2008 threaten the stability and profits of virtually all lending companies, including Wells Fargo. Federal Reserve Chair Ben Bernanke testified in March 2008 that total losses on subprime mortgage foreclosures in the fourth quarter of 2007 exceeded 50% of the principal balance;
Diciembre 19, 2008