Some MBS Transactions Likely to Drown In Fairbanks’ Wake, Fitch Analysts Warn
July 4, 2003
Problems at one of the subprime market’s largest servicers appear to have finally caught up with the mortgage-backed securitization market. So far, investors in deals serviced by Fairbanks have been largely insulated from the fallout that has resulted from allegations the company mismanaged borrower payments, charged bogus or inflated fees and was too aggressive in foreclosing on loans.