Obama program mostly delays foreclosures, firm says

NEW -> Contingent Buyer Assistance Program
"(T)he HAMP program right now ... really makes it difficult for anyone from the outside [of Citi] to actually have a good view as to the inherent credit profile in our (mortgage) delinquency buckets."

Citi CFO John Gerspach, Oct 15, 2009

Funny, every major bank's CEO has said in their Q3 earnings conference calls that HAMP is affecting how they process foreclosures.
 
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