Banks Resist Requests to Buy Back Failed Mortgage Loans
Fannie Mae and Freddie Mac are encountering growing opposition from banks as they try to make lenders including JPMorgan Chase & Co ( JPM ) and Bank of America Corp. ( BAC ) buy back failed mortgage loans. The two government-owned companies are trying to enforce contracts that require banks to take back loans that don't meet certain underwriting standards, Bloomberg News reported. As of the end of... Continue reading Banks Resist Requests to Buy Back Failed Mortgage Loans Banks Resist Requests to Buy Back Failed Mortgage Loans originally appeared on DailyFinance on Tue, 30 Nov 2010 06:27:00. Filed Under: JP Morgan Chase , Fannie Mae , Bank of America , Real Estate , Freddie Mac , Credit Permalink | Tweet this! | Comments
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