AMI News and Resources

AMI Congratulates the Newly Elected State Attorneys General

For immediate release

Contact: 202-327-8100

Thursday, November 4, 2010

AMI Congratulates the Newly Elected State Attorneys General and Offers Support for Effective Loan Modifications and Other Alternatives to Foreclosure

Washington, D.C. – The Association of Mortgage Investors (AMI) congratulates the newly elected State Attorneys General. AMI’s member firms are asset managers and fiduciaries for important constituents of the Attorneys General – state, county and local pension funds and retirement systems. AMI shares many of the same goals in finding effective alternatives to foreclosure and protecting the retirement funds of state citizens. The 50-state investigation into foreclosure practices is another telling sign of the unresolved problems in the U.S. housing market. The timely resolution of the foreclosure crisis is in the best interests of our nation’s economy, banks, homeowners, tax payers and fixed income portfolio investors reliant upon monthly cash flows from mortgage-backed securities. “This election was about the future of the U.S. economy, and a core and significant part of the U.S. economy is the housing industry,” remarked AMI Executive Director Chris Katopis. “Now the newly elected state AGs must continue the hard work of investigating and sorting out the housing finance market in an equitable fashion for responsible borrowers, distressed homeowners, mortgage servicers and the mortgage investors, who include state, county and local pension systems, each having an enormous stake in the settlement,” he continued. “The AG investigation will confirm that mortgage investors did not direct, consent, or agree to mortgage servicers’ improper foreclosure practices. Mortgage investors look forward to participating in the settlements and ensuring the responsible parties are held accountable.” . . .

For the complete release, please click here: AMI press release 11-4-2010