While it's unclear if it will reach 3 to 4 million borrowers, it's almost certain to have a much bigger impact than any mortgage modification plan to date.

FORBES: Magazine Article

Earlier on Tuesday, Citigroup announced its loan modification plan.

FORBES: The Mortgage Morass

"The investors who own these loans recognize that foreclosure is costly, and that a workout plan or mortgage modification often brings them greater value than foreclosure, " he says.

FORBES: Wall Street Likes Bush Subprime Plan

Though the details are somewhat complicated, the plan essentially streamlines the loan modification and refinancing process for borrowers at risk.

FORBES: Wall Street Likes Bush Subprime Plan

She has met with him privately just once this year, on Air Force One, returning from an event in Arizona where he announced his mortgage-relief plan, modelled on the loan-modification ideas that Bair had long advocated.

NEWYORKER: The Contrarian

The plan insists that foreclosure will still occur if modification is more expensive, but how these costs are compared could still involve significant subjectivity.

FORBES: Magazine Article

Without the plan, foreclosure might have been several thousand dollars cheaper than modification, but the scales are now tipped in the other direction: Foreclosure will now be more costly than modification.

FORBES: Magazine Article

The new plan creates an array of incentives that improves the math in favor of modification.

FORBES: Magazine Article

Notwithstanding any such reversal, stay, modification, or vacatur of this Order, any such act or obligation incurred or undertaken pursuant to, or in reliance on, this Order prior to the effective date of such reversal, stay, modification, or vacatur shall be governed in all respects by the provisions of this Order and the Plan or any amendments or modifications thereto.

FORBES: Dodgers Purchase Agreement Filed By Guggenheim Baseball Will Use $1.6 Billion Of Equity