Securitization isn't the only area with mortgage-paper problems

11/23/2010 | Bloomberg

Poor and missing documentation is creating problems for banks trying to clean up their portfolios by selling mortgages originated during the real estate boom, according to Cantor Fitzgerald. Paperwork problems are delaying loan sales and forcing sellers to cut their prices, said Jason Kopcak, head of whole-loan trading for the broker. "It wasn't just securitizations; it was across the industry," Kopcak said.

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