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Mortgage News Daily combines the expertise of some of the housing industry's leading minds with the power of social media to offer an always lively, constantly evolving web community. MND communicates breaking news, streams video, and provides expert opinion and commentary to a community of interested market professionals and curious consumers.Reality Check for Bank Investors, Mortgage Investors and Home Buyers
Reggie Middleton submits: Last week I posted a Bloomberg news article supporting my suspicions that investors are putting bad loans back to the banks at an increasing rate. I used JP Morgan ( JPM ) as a specific example - Banks Swallow Another $30 billion or So in More Losses as Their Share Prices Surge (Again). A few commenters on syndicated sites appeared to have really underestimated the significance of this development. In the article, it is alleged that Freddie ( FRE ) and Fannie ( FNM ) are forcing banks to eat up to $30 billion in soured mortgages under the warranties and representations clauses of the sales contract. To highlight the significance of this development, let me remind all that Fannie and Freddie are benchmarks for mortgage lending in the US. Complete Story »
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Mortgage News Daily
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Anonymous Anonymous |
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YOUR MESSAGE HERE
Reality Check for Bank Investors, Mortgage Investors and Home Buyers
Reggie Middleton submits: Last week I posted a Bloomberg news article supporting my suspicions that investors are putting bad loans back to the banks at an increasing rate. I used JP Morgan ( JPM ) as a specific example - Banks Swallow Another $30 billion or So in More Losses as Their Share Prices Surge (Again). A few commenters on syndicated sites appeared to have really underestimated the significance of this development. In the article, it is alleged that Freddie ( FRE ) and Fannie ( FNM ) are forcing banks to eat up to $30 billion in soured mortgages under the warranties and representations clauses of the sales contract. To highlight the significance of this development, let me remind all that Fannie and Freddie are benchmarks for mortgage lending in the US. Complete Story »
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