Fobaproa lent some banks emergency cash, helped others to restructure loans and helped debtors to repay.
During the boom years, there was little need to advise borrowers or restructure loans.
Other investors, including private equity firms, are seeking to restructure loans.
Workout specialists restructure loans owned by commercial entities like banks, private equity funds and corporations.
But it will be harder this time for lenders to restructure loans to help people avoid repossession.
While well-intentioned, both measures aim to restructure loans, but without restructuring the underlying system that punishes educational aspiration with financial ruin.
"We also know that in too many instances, servicers have not made meaningful efforts to restructure loans for borrowers who have documented that they are in economic distress".
Analysts are guardedly optimistic about the bailout's prospects, noting that the new company has been granted extraordinary powers to restructure loans, foreclose on assets and liquidate companies.
Terra Firma, headed by City financier Guy Hands, has been trying to restructure loans of £3bn owed to US bank Citigroup, but relations between the two sides have soured.
The Securities Industry and Financial Markets Association, or SIFMA, announced that any locality that used eminent domain to restructure loans couldn't trade in its standard market.
Boots & Coots International Well Control, a Houston company that fights oil-well fires, agreed to restructure loans from Prudential Insurance Company in a bid to avoid bankruptcy.
