Professor Kurt Eggert was quoted in an article in the Orange County Register entitled, “Foreclosures blanket O.C.: Banks seized more homes in nearly every ZIP in county in 3rd quarter.” Professor Eggert agreed with others quoted saying, “proposals he has reviewed to modify loans lack sufficient teeth. Perhaps the only thing that might work would be a strong federal regulator for loan servicers, as there are regulators of traditional banks.” He also stated “Modifying a loan can be better for investors in mortgages than foreclosure. But sometimes it is easier and less costly for a servicer to foreclose. Someone needs to monitor servicers to ensure they are acting in the best interest of investors. That could be better for everyone.” Read article…