U.S. Must ‘Stop Punishing Banks,’ Halt Loan Claims, FBR Says
Sept. 6 (Bloomberg) — U.S. government-backed firms and agencies should “stop punishing banks” and suspend demands for mortgage repurchases because they are impeding an economic recovery, according to Paul Miller of FBR Capital Markets & Co. Repurchase losses may total $121 billion, wrote Miller, a former federal bank examiner, in an analyst’s note to clients dated today. He previously said the tally might range from $54 billion to $106 billion. Losses for Bank of America Corp. could reach $66 billion in some scenarios, he wrote. Fannie Mae, Freddie Mac, the Federal Housing Authority and the Federal Housing Finance Authority “are … Read more