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Real Estate & Property Law

: The Home Equity Theft Reporter

Fannie, Freddie Seek To Have Big Lenders Eat Bad Home Loans; Poor Underwriting Drives Mortgage Finance Giants' Recovery Efforts Over Debt Gone Sour

By r morris

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Dow Jones Newswires reports:As home loans sour at a rapid clip, mortgage finance giants Fannie Mae and Freddie Mac are aggressively bouncing back defectively underwritten loans to lenders. The result: higher loan-loss reserves for the lenders and new headwind for banks trying to escape the housing downturn.For lenders such as Wells Fargo & Co., Bank of America Corp., J.P. Morgan Chase & Co. and

Full post as published by The Home Equity Theft Reporter on December 07, 2009 (boomark / email).

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