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Two big banks said to be selling $2B of troubled home loans

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Mortgage Professional America | 13 Nov 2014, 12:05 PM Agree 0
In an effort to meet demand and avoid the costs of holding soured debt, the lenders put the mortgages on the market.
  • Charles Stidham | | 13 Nov 2014, 12:58 PM Agree 0
    Would someone from MPA be so kind and find out when those "troubled" mortgages were originated? Because of right now the foreclosure rate is lass than 1% nationwide for mortgages originated since 01/01/2012. Are we still talking about mortgages from 2005-2008? Probably so since we are so close to the holidays when people start waxing nostalgic about the old days.
  • Samir | | 13 Nov 2014, 01:13 PM Agree 0
    YES, they wept them under the RUG...... The biggest Ponzi scheme ever!!!
  • Rachel Norvell | | 13 Nov 2014, 01:48 PM Agree 0
    Charles,
    Thanks for reading and pointing this out. We are definitely looking into this. Right now the news is still fresh and Bank of America and Citigroup are currently not replying to requests. We'll get the info posted as soon as we know.
  • | | 13 Nov 2014, 02:52 PM Agree 0
    They aren't isn't just selling "troubled mortgages". I had three mortgages with Bank of America and two with Citi. Both banks sold my mortgages to Greentree. I have never been late on a mortgage payment.
  • Tester | | 13 Nov 2014, 06:13 PM Agree 0
    curious if any of those mortgages sold to Greentree where re setting 10-1 ARMS ?
    Greentree is modyfying many of these mortgages later
  • Truth be known? | | 14 Nov 2014, 03:37 PM Agree 0
    TARP?????
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