Panelists at the American Securitization Forum’s (ASF) 2010’s mortgage modification session warned of two issues undermining government and private sector efforts to stem foreclosures and get the market re-started: negative equity and second lien mortgages.

By nearly any measure, the negative equity effect has been downright brutal. Already it has translated into a plummeting cure rate, said Laurie Goodman, senior managing director of Amherst Securities Group.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.