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Will JPMorgan settlement will hurt efforts to privatize mortgage market?

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Mortgage Professional America | 25 Nov 2013, 08:06 AM Agree 0
The terms of JPMorgan Chase’s record $13bn mortgage-bond settlement with the government will undermine Washington’s efforts to move mortgage-market risk from taxpayers to private capital, according to the world’s largest money manager.
  • Bayview Mortgage, Inc | | 25 Nov 2013, 08:38 AM Agree 0
    This settlement will have the oposite effect. The large lenders are going to quit using freddie and fannie so as to not have anyone looking over their shoulder. They have enough cash. This was just a slap on the wrists anyways. When you are talking about a trillion dollars worth of mortgages. The big Banks waiste so much many. This fine will never be missed. The Banks are like the Crack -Hos of the mortgage industry. And Dimon is the king pin of them all. Freddie and Fannie will be dissolved within two years.
  • Bob Gillespie | | 25 Nov 2013, 08:48 AM Agree 0
    BLACKROCK!!!! You want some Cheese with that Whine?? Take a small portion of the billions you made on the CDO's and other debt swaps that GUARANTEED you couldn't lose even if 100% of the mortgages defaulted, and SHUT THE F... UP!!!!
  • Paul | | 25 Nov 2013, 08:53 AM Agree 0
    "Transparency" Well it shouldn't be too foggy a notion that the government realizes it has screwed the pooch once too often in all matters banking & mortgage, so they'd like to pass future potential liabilities into the private sector.

    Had the government made some seriously transparent efforts to enforce mortgage underwriting and insuring guidelines in place the taxpayers may not have had to bail out banks.

    In these belated histrionic, barely transparent efforts of penalizing long-standing offenders who probably only got greedier serving the will of congress, should anyone be surprised that the private financing sector isn't too interested in playing the game?

    Legislators like Barney Frank and Maxine Waters can't serve up or speak out about a steady diet of carrots/legislation and forget the consequence of too much buttery toppings... the big lenders saw how to spice up the carrot and dodge the stick.

    Now that the government stick has gotten in a few licks, BofA needs a few more over the head to understand that they too are culpable, who in their right mind would sit back up to the table???

  • Sam Falvo | | 25 Nov 2013, 08:57 AM Agree 0
    Banks Like taking tax payer money but banks sure hate giving it back even when they admit they misled investors. We bail them out and are we paying for it now.
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