Lockhart Blames Industry For Woes, Says Change Is Too Slow

09 Feb 2009

James Lockhart, director of the Federal Housing Finance Agency, chastised the private label mortgage-backed securities market for the high number of delinquencies and for being too slow to implement loan modifications.

-- Olivia Thetgyi

James Lockhart, director of the Federal Housing Finance Agency, chastised the private label mortgage-backed securities market for the high number of delinquencies and for being too slow to implement loan modifications. By contrast, he held up the government-sponsored enterprises as models for promoting change in the ...

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