Tuesday, November 3, 2009

In the Dow Jones Newswire, "Wells Fargo Defers Reckoning On Troubled Mortgage Balances," Nov.3

Because of troubled borrowers like Annan, Wells Fargo risks tethering itself to what former Wall Street executive David Shulman terms "wasting assets," since borrowers facing years of negative home equity have little incentive to maintain or improve their homes. "You've got to give the homeowner incentive," says Shulman, now a senior economist at UCLA Anderson Forecast. "Otherwise, they're sitting there as a tenant."

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