A Reality Check on Mortgage Modification

Interestingly, servicers who originated loans that may have violated federal or state law could use the modification process to avoid liability if they securitized the mortgage but retained the servicing rights. The author writes that this may be an unintended consequence of the Helping Families Save Their Homes Act of 2009 (H.R. 1106, passed by the House 3/5/09, currently pending in the Senate).