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It plans to call mortgage borrowers in distressed areas and offer new terms to those who see difficulty paying in the future, Ron Lieber writes in Your Money.
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The highest quote came from One Call Mortgages.
Data brokers also sell another controversial product called "mortgage triggers".
They came from loans issued by a company called MortgageIT, which Deutsche acquired in 2007.
Why, for example, are some tomatoes grown in Appalachia called mortgage lifters?
Robert Khuzami, director of the S.E.C.'s division of enforcement, called mortgage products like those sold by the banks "ground zero in the financial crisis" in a statement Friday.
Companies called "mortgage servicers" do the bookkeeping, collect the monthly payments from homeowners and forward the funds to the mortgage owners.
Also, $1 million is being contributed on behalf of several entities, called mortgage loan trusts, created by Wall Street underwriters to finance First Alliance over the years.
LeHoullier's book is full of good advice and seductive photos (who doesn't want to grow a fat red tomato called "Mortgage Lifter", an "Arkansas Traveller" or a "Mexico Midget"?).
Banks also stand to book large gains on mortgage bonds as well more obscure instruments called mortgage servicing rights, which rose late in the quarter in anticipation of more borrowers holding onto their existing loans.
Though Mr. Tourre was a more junior member of the Goldman team, the S.E.C. case against him was bolstered by colorful e-mails he wrote, calling mortgage securities like those he created monstrosities and joking that he sold them to "widows and orphans".
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