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February 14, 2014

Rep & Warranty Damage: $89 Billion, Eventually, But Banks are Reserved

By Brandon Ivey

Losses incurred for rep-and-warrant claims tied to MBS could total $89 billion eventually. However, banks have already reserved $88 billion, according to some tallies.

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Poll

HUD has announced a 25 basis point cut in FHA premiums, which is slated to take effect in late January. Is your lending shop for or against a cut in FHA premiums?

For. It should help lending volumes.
Against. The private MI sector should take on this risk, not the government.
Too early to say.
I believe the new White House may scuttle the idea so it doesn’t matter.

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