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Volume 2016 - Number 4

January 28, 2016

A Secondary Market Develops for ‘Scratch & Dent’ TRID Loans; Even PIMCO is Eyeing the Sector

With nonbanks fearing they could be stuck with error-laden mortgages that violate the integrated disclosure rule, a secondary market has developed for this new breed of scratch and dent loans, according to interviews conducted by Inside Mortgage Finance. One investor, requesting his firms name not be identified, said his shop bought such a mortgage for 90 cents on the dollar. Participants in the market including investors and traders concede...

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A weekly "must read" for industry executives. Thoroughly covers regulatory, political, legislative and market issues in the residential mortgage business.



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