In spite of the influx of new human resource assets, banking regulators have a mixed effectiveness when it comes to compliance with their own Dodd-Frank obligations.
Moody’s said the JPMorgan Mortgage Trust 2013-1 has a weak representations and warranties framework, a restrictive rep and warrant enforcement mechanism and a lack of risk retention by Chase.
When Fannie Mae and Freddie Mac work with counterparties, they have contractual agreements that loans sold to them comply with federal and state laws governing the origination and servicing of mortgage loans.
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