Now Andy Beal has found another seemingly impossible mountain to climb: getting big banks like Bank of America, Citigroup, Goldman Sachs and JPMorgan Chase & Co., to repurchase potentially faulty loans that were sold during the housing boom. According to Katy Burne at The Wall Street Journal, Beal is working to bring bondholders together to investigate potential misrepresentations and contract breaches by the banks that sold residential mortgage-backed securities.
Billionaire banker Andy Beal goes after big banks on bad loans
Most Popular Articles
Latest Articles
Loan buybacks haven’t disappeared, but they are trending down
The loan repurchase trend that began to sting many mortgage originators in 2022 appears to finally be winding down.