From the Wall Street Journal and it doesn’t stop there.
FDIC officials expect to make an additional $21.5 billion in payments from 2011 to 2014. More than half of that total is predicted for this year, followed by an estimated $6 billion in loss-share reimbursements in 2012, according to the agency. Some of the loss-share deals will be in place for 10 years.
The payments to date are smaller than FDIC officials anticipated, and they say it would cost much more to liquidate the mountain of bad loans at fair-market value. The FDIC said Wednesday that it couldn’t be more specific about its previous estimates for future payouts because the agency continually revises those estimates based on new loss-share deals and claims submitted under existing arrangements.© 2010-15 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.