FDIC Warns Banks on HELOC Freezes, REO Management
Posted by Paul Jackson on Jul 1st, 2008
2008
Jul 1
A series of letters sent this week to banks by the Federal Deposit Insurance Corp. served to warn mortgage bankers on HELOCs and REO management practices, as many are increasingly looking to freeze home equity lines and find ways to reduce carry cost associated with growing inventories of bank-owned real estate.
The deep freeze hitting many [...]