After Sept. 15, Fannie Mae and Freddie Mac will no longer accept LIBOR loan applications. Moreover, the FHFA and the GSEs expect all loan purchases linked to the London benchmark to cease by yearend.
Most of the concerns about the new regulation hinge on how much profit the GSEs can make under the bumped-up capital levels. Most industry observers appear to be on the side of “not enough.”
A Florida lawyer is charged with swindling distressed borrowers out of their homes, and then filing fraudulent bankruptcy petitions to prevent the GSEs from executing lawful foreclosures.
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