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.
FHFA hires law firm to recoup MBS losses
Most Popular Articles
Latest Articles
Did lower mortgage rates slow housing inventory growth?
After two weeks of significant increases, my model for inventory growth with higher mortgage rates came crashing down last week.
-
Labor market report is good news for mortgage rates
-
Virginia Realtors: Zillow’s touring agreement may not be legal
-
Low inventory creates challenging conditions in North Carolina’s housing market
-
Tri-state area housing shortage could cost the region economically
-
Remote reverse mortgage counseling now permanently permitted in Massachusetts