Dealing with Loan Repurchase Requests from Mortgage Lenders

Posted To:The Garrett Watts Report

Have you ever noticed there are certain things people don’t like to talk about? For example, most of us don’t want to talk about our hemorrhoids or most recent colonoscopy in public. Enough said! Mortgage bankers have a couple of issues they really don’t enjoy discussing. One of those is loan repurchase requests. If you work in the mortgage business for long enough, whether it be for loan fraud or an unanticipated underwriting variance, anyone who writes loans will eventually find themselves dealing with a loan repurchase requests. Yesterday, we received a copy of an email from a very well respected and knowledgeable attorney relating to loan repurchases. He has negotiated 200+ investor loan repurchase requests on behalf of mortgage bankers. Here are some of his recommendations…(read more)

This mortgage update is brought to you by: C.M. “Corky” Watts, CMB – You can read the full article at Dealing with Loan Repurchase Requests from Mortgage Lenders

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