White House Official Says Mortgage Firms Need to Bolster Trust

Due to the inability of banks to properly process foreclosures, the white house officials are concerned about a "trust deficit" that is widening because of this inefficiency. The officials are irritated with firms that do not make full effort to participate in the tax-payer supported programs such as modifying loans and not re-financing at-risk borrowers. The article further states that nearly nine in ten new loans originated are backed by government which is further putting the economic boom in a slumber. According to the officials, all this trust deficit has scared off some part of an entire generation of potential home buyers such as younger workers and families that will comprise the "echo boom" generation.