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Volume 2017 - Number 41

October 27, 2017

Between Multiple Hurricanes and Wild Fires, a Market Develops for a New Breed of ‘Scratch and Dent’ Loans

With just over 4.5 million mortgage borrowers potentially affected by hurricanes Harvey and Irma, a secondary market is beginning to develop for mortgages that were originated and closed prior to the storm Ė but had not yet been placed into a security. According to bidders in the market, the early action focuses on loans that are ďstuckĒ on warehouse lines. But the mortgages cannot be securitized until the property (if damaged) can be brought up to code and re-inspected ...

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This weekly covers the secondary mortgage market, including mortgage-backed securities and asset-backed securities.



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What’s your opinion on how Mick Mulvaney has managed the CFPB since he took over three months ago?

He’s done a good job of paring back the agency’s excesses and we’d like to see more.
I hope he totally dismantles the agency and sends those functions back to the agencies hence they came.
Not bad, but he needs to take his time making additional changes.
We’re totally aghast. He’s gone way too far in protecting the rights of companies not consumers!

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