The Federal Housing Finance Agency (FHFA) has appointed a law firm to help it recoup billions of dollars on soured mortgage-backed securities purchased from banks and financial firms, The Wall Street Journal reports. The regulator, which issued 64 subpoenas to issuers of mortgage securities, bank servicing companies and other entities, has hired Quinn Emanuel Urquhart & Sullivan to coordinate its investigations. Banks, including JP Morgan Chase, were issued subpoenas by the federal regulator overseeing Fannie Mae and Freddie Mac. The investigation is related to ‘private-label securities’ that were originated by mortgage companies, packaged by firms and then sold to investors.

Most Popular Articles

Sales of new houses will rise to a 13-year high in 2020, NAR’s chief economist says

Sales of new homes probably will rise to a 13-year high in 2020 as the U.S. dodges a recession, according to Lawrence Yun, chief economist of the National Association of Realtors.

Nov 08, 2019 By

Latest Articles

RealPage: The size of the average U.S. household is growing

For the first time since 1850, the average size of the U.S. household is on the rise, RealPage says. And it’s not just the kids or Millennials, either. Households are becoming multi-generational.

Nov 12, 2019 By