11/30/2010

Fannie Mae and Freddie Mac are attempting to shift troubled mortgages from their books back onto the balance sheets of major financial institutions, such as JPMorgan Chase and Bank of America, but they are facing resistance. Fannie and Freddie reported that as of the end of September, banks had not responded to buyback requests worth $13 billion. Lenders are questioning the effort by the mortgage giants.

Full Story:
Bloomberg

Related Summaries