Fitch: Fannie, Freddie See New Targets of Buyback Opportunity in Mid-Tier Financial Institutions
July 12, 2012
Mortgage repurchase requests by Fannie Mae and Freddie Mac show no signs of slowing down, and the two government-sponsored enterprises appear poised to pick up the pace with buyback de-mands targeting mid-tier financial institutions, warned Fitch Ratings. Fitch issued a note last week in which the rating agency cited signs of a potential shift in focus by the GSEs from the big banks to the smaller regional banks as a target of opportunity for increased representation and warranty claims.Recent announcements by PNC, SunTrust and First Horizon that they intend to boost future GSE ...