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Instead, Wall Street firms used the information to pressure the lenders issuing the most troubled loans to accept a lower price for them, according to prosecutors who have investigated these cases.
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Last week Wilson, who turned 50 on Monday, received a final five-day notice to vacate from Los Angeles County Sheriff Lee Baca's office, after she desperately but unsuccessfully tried to get US Bank (which owns her mortgage) and Wells Fargo (which is servicing the loan) to accept her mortgage payments.
His advisory council is expected to introduce a set of proposals this week to force banks to more strictly assess their nonperforming loans and to accept public money if they are undercapitalized.
Ten percent intend to negotiate a short sale on their house, where the holders of the primary mortgage and the home equity loan agree to accept less than what they are owed.
Before Erste Bank agreed to buy a 52percentt stake in Ceska Sporitelna last summer, the Czech government agreed to assume more than $800 million in bad loans, about 45percentt of Ceska's entire loan portfolio -- and to accept bad loans that had not been discovered at the time.
Under pressure from the British and Dutch, bailout loans required Iceland to accept some taxpayer liability for Icesave deposits from overseas.
Ethics rules require members to accept loans only "on terms generally available to the public".
Diplomats say he argued that he could not ask a bankrupt country to accept loans when the outside world had promised so much in outright grants.
Two government-chartered mortgage finance companies are unlikely to accept loans on homes that are part of a special program that lets homeowners repay the cost of energy improvements through a surcharge on their property tax bills, according to Energy Department officials.
Collective action clauses are legal riders in bond contracts that can make it easier for a debtor country to restructure its loans by forcing holdouts to accept the country's proposal for a bond swap if a certain majority of creditors agree to it.
Countrywide, which services his loan, would not agree to modify the loan but was willing to accept the short sale.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com