Pricing exceptions are widespread in mortgage — and so are the regulatory risks

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Richard Durbin

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Senate Crams Cramdowns 

May 01, 2009By

The Senate rejected an attempt by Sen. Richard Durbin (D-IL), to allow bankruptcy judges to modify mortgage terms and possibly lower (or cramdown) a portion of the principal balance on outstanding property loans.

3d rendering of a row of luxury townhouses along a street

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