Investor Repurchase Demands Dog Subprime Lenders in 2Q
September 1, 2006
Loan sellers are getting more repurchase requests from their investors – a development that is cutting into gain-on-sale margins and forcing changes in their product mixes. Repurchases have long been a bane for companies that sell their production on the whole loan market. In general, the repurchase requests are fueled by worse-than-anticipated performance, particularly early in the life of the loans...