Mortgage woes could cost U.S. banks $97 billion, experts say

10/28/2010 | CNBC

Mortgage-securities specialists said U.S. mortgage lenders could face $97 billion or more in losses because of issues related to home loans that have come to light during the foreclosure mess. The specialists warned of an upcoming wave of put-backs, when mortgage-backed securities investors force originators to repurchase problematic loans at par.

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