Mortgage Lender Faced With Repurchase Demand
Pete Werdesheim and Joe Kingma advised an Atlanta-based mortgage lender faced with a repurchase demand from one of the nation’s largest mortgage-servicing companies. The servicing company claimed that our client violated underwriting guidelines by extending credit based upon allegedly inflated appraisals and improper inducements from sellers in various transactions. Accordingly, it demanded the repurchase of several loans. Negotiations ensued, the end result of which was the rescission of the repurchase demand.
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