Mortgage Repurchase Requests Continue to Vex GSEs Amid Banner First Quarter for Freddie Earnings
May 12, 2011
Fannie Mae and Freddie Mac reported sharply different earnings results for the first quarter, but at least one thing was mostly the same: both government-sponsored enterprises continued to push a significant volume of loans back to lenders through repurchase demands while carrying a large inventory of unresolved buybacks. Some of our seller/servicers have failed to fully perform their repurchase obligations due to a lack of financial obligations in a timely manner, Freddie said in its first quarter 2011 earnings report. As of March 31, 2011, the unpaid balance of loans subject to...