Fannie Mae and Freddie Mac are facing growing resistance as they attempt to push failed home loans off their books and onto the balance sheets of banks including Bank of America Corp. and JPMorgan Chase & Co. The two government-owned mortgage companies are enforcing contracts that require lenders to buy back loans that didn’t meet underwriting standards. At the end of September, the companies reported, banks hadn’t responded to $13 billion in buyback requests. A third of those were at least four months old and Freddie Mac has begun to assess penalties for the delays.
Banks in U.S. resisting calls to repurchase Fannie Mae, Freddie Mac loans
Most Popular Articles
Latest Articles
The 9 top real estate lead generation companies for 2024
These 9 top real estate lead generation companies can help you find and nurture more qualified leads.
-
How this week’s Fed meeting could impact inventory
-
FHA increases manufactured home loan limits in affordable housing push
-
Ginnie Mae seeks budget increase to manage sizable reverse mortgage portfolio
-
Panic! at the brokerage: Industry leaders plan next steps after NAR settlement
-
Lennar Mortgage signs on with ICE’s loan servicing system