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Real Estate & Property Law

: The Home Equity Theft Reporter

NY Fed Reserve Joins Others In Bid To Make Big Banks Eat Crappy Mortgage Loans; Stonewalling Servicers, Trustees Refuse To Turn Over Requested Info

By r morris

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Reuters reports:The Federal Reserve Bank of New York [...] said it may try to force banks to repurchase bad home loans backing securities it holds, joining the ranks of other big investors who have been gaining momentum with identical demands. The effort from the New York Fed to boost the value of its Maiden Lane portfolio is similar to what U.S. mortgage finance giants Fannie Mae and Freddie Mac

Full post as published by The Home Equity Theft Reporter on August 20, 2010 (boomark / email).

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