Fannie Mae Loan Buyback Requests Up More Than 60% Year Over Year
May 12th, 2010
“While many expected the disturbingly high number of GSE directed repurchase demands to mortgage lenders on nonperforming loans to crescendo in 2009 – 2010 is looking to be an even more onerous year for mortgage lenders that sold loans to the GSEs. Nonbank financial institutions in particular, could be at significant financial risk by the contingent liabilities associated with the representations and warranties made to the GSEs for the quality, eligibility, and integrity of loans they originated and sold; and, which are now seriously delinquent or in default.”
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