Comptroller John C. Dugan said his office has calculated that the Mortgage Bankers Association is low-balling the foreclosure rate, which the Post notes is used widely in the press. He also raised questions about how many homeowners the Hope Now coalition—a voluntary group of lenders and servicers put together by the administration—has helped.
His office found that the new foreclosure rate was 1.13 percent in the first quarter compared to the MBA’s 1.01 percent number.
To Zell with this!
The Chicago Tribune’s publisher quit a few days after Tribune Company announced drastic cuts in its newspaper business, “indicating he agrees that parent Tribune Co. must change but not necessarily in the ways being discussed by Chairman Sam Zell.”