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Mortgage Investors Seek Changes in Housing Rescue Plan

Mortgage Investors are pressing the Obama administration to bring changes in the housing rescue plan, announced by the President to help borrowers avoid the occurrence of foreclosures and stabilize the housing market. Investors who have invested in residential mortgage-backed securities are concerned about the measures taken to prevent lawsuits against mortgage servicers along with some other features of the plan.

The provision doesn't allow an investor to take legal action against those servicers who collect their loan payments and are responsible for modifying loans with homeowners. The success of $75 billion housing rescue plan depends much on the participation of these investors, who keep on conducting meetings with officials of treasury department to influence parts of the plan in their favor.

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