Rumble Over Crappy Home Mortgage Loan Buyback Demands Escalates As Bank Of America Tells Fannie To Take A Hike!
Written by Administrator on November 22nd, 2011Bloomberg reports:Bank of America Corp. told Fannie Mae it refuses to cooperate with the U.S. mortgage firm’s new stance on loan buybacks, setting the lender up for a potential surge in claims and penalties.The bank is disputing Fannie Mae’s demand that lenders repurchase mortgages or cover any losses themselves if an insurer drops coverage, Bank of America said this month in a regulatory filing.
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Tags: America, Bank, BuyBack, Crappy, Demands, Escalates, Fannie, Hike, Home, Loan, Mortgage, over, Rumble, Take, Tells
