The American Securitization Forum/ Dept. of the Treasury
With the loan modification framework, the ASF and Treasury offered a concrete plan of relief for the woes plaguing both borrowers and the capital markets. Unlike the other subprime rescue plans out there, the fast track roadmap narrowly targets the borrowers who need help and skirts those who do not. And unlike many other plans, the industry-concocted response to the subprime market's woes does not put the government on the hook for billions of dollars to bail out incautious borrowers.