Until that happens it will be difficult to make progress on the unsustainable mortgage problem, despite the additional efforts being encouraged by the supervisory strategy I will describe today. In the meantime, we will use our engagement with the banks to require them to focus on the unsustainable mortgage problem.
Rescheduling options The Code does not prescribe that a lender must agree to a rescheduling with a customer. That decision still ultimately rests with the lender based on an individual assessment of the borrower’s particular circumstances.