Backlog of bad mortgages is precluding good mortgages, bankers say

10/4/2012 | Wall Street Journal, The

The Mortgage Bankers Association says borrowers are missing out on historically low interest rates because banks are hesitant to add new loans to their rolls in the face of Fannie Mae and Freddie Mac's stringent rules. Bankers say the government-sponsored entities' loan repurchase requirements can be unreasonable and have had a chilling effect.

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Wall Street Journal, The

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