Bank Lawyer’s Blog: An Elephant Stampede …loan repurchase obligations
Bank Lawyer’s Blog: An Elephant Stampede Two and one-half years ago, we were talking about an "elephant in the room" for the mortgage banking business: loan repurchase obligations. In November 2005, the problem was primarily with respect to subprime mortgage loans. Today, according to The Wall Street Journal, the elephant is stomping throughout the house, smashing furniture in every room, and leaving a memento of his presence on every loan originator’s favorite sofa cushions.
