Lenders Forced to Buy Back More Home Loans In 2009 as Buyers Get Tough and Defaults Rise
June 18, 2009
Investors shoved an increasing volume of home loans back to mortgage lenders during the first quarter of this year as rising default rates spurred mortgage buyers to become more aggressive about enforcing repurchase requirements. Preliminary bank call report data suggest that commercial banks repurchased or indemnified over $4.3 billion of single-family mortgages... [Includes one graph]