Freddie Mac Lender Partner Delivers Wrong ARMs, GSE to Pass Through Principal Prepayments
January 26, 2007
Taylor, Bean & Whitaker Mortgage, in Ocala, FL, has been forced to repurchase some 451 single-family hybrid adjustable-rate mortgage loans with a LIBOR index that it had mistakenly delivered into 31 of Freddie’s PC pools designed for Treasury ARMs. Those kinds of...