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HAMP for Second Liens to be a Major Factor In Non-Agency MBS Loss Mitigation Efforts
Loss mitigation efforts to address second liens advanced significantly last week as Bank of America became the first servicer to agree to join the second-lien component of the Home Affordable Modification Program. The majority of first liens in non-agency mortgage-backed securities have second liens behind them, according to estimates by Amherst Securities Group... [Includes one chart]
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