Merrill Offers Suggestions on Refinancing Underwater Loans

Lenders would compete to refinance underwater mortgages if Fannie Mae and Freddie Mac stopped demanding “put backs” when new loans default, according to mortgage strategists at Bank of America/ Merrill Lynch.

Article source: http://www.nationalmortgagenews.com/dailybriefing/2010_421/merrill-suggestions-refi-underwater-loans-1026349-1.html?CMP=OTC-RSS

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