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February 24, 2014

Citi Prepares Non-Agency MBS Backed by Mortgages That Are 10 Years Old

By Brandon Ivey

Citigroup will not provide representations and warranties for fraud on the MBS and half of the mortgages were originated with stated- or no-documentation.

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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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