(Loans With Quick Sign) Paulson's mission: Deliver gimmicks with gusto - St. Petersburg Times
Paulson comes up with a new marketing gimmick every month to promote the government-led, private-sector plan to help homeowners hang on to the homes they couldn't afford. MLEC was really a Super-SIV, or structured investment vehicle, designed to buy the assets of SIVs after their source of funding - the asset-backed commercial paper market - dried up. To the extent the government's public information campaign is encouraging homeowners to seek counseling to assess possible mortgage workout options, these initiatives are good. Last week Paulson and six large mortgage servicers agreed to a 30-day freeze on the foreclosure process for homeowners 90 days delinquent on their payments. Learn more
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