Sentence examples for failed to repurchase from inspiring English sources

In a statement, a Bank of America spokesman said the bank "has stepped up and acted responsibly to resolve legacy mortgage matters; the claim that we have failed to repurchase loans from Fannie Mae is simply false".

In this particular instance, the claim that we failed to repurchase loans from Fannie [Mae], is just false.

But it seemed unlikely that MBIA could come up with the cash unless Countrywide agreed to pay billions to settle claims that it had misled the insurer regarding the quality of mortgages in securitizations insured by MBIA, and had failed to honor its obligations to repurchase those mortgages.

The terms of the mortgage security deals often required lenders to repurchase loans that failed to meet certain underwriting criteria.

"The November 2000 stock repurchase program failed to treat all shareholders equally and indeed greatly favored the very people, Ullico's directors and officers, who had formulated, approved and implemented the program," the report concluded.

New disclosures would include the amount of assets in previous pools put together by originators or sponsors that had to be repurchased because they failed to meet the quality measures stated in the prospectus.

A range of institutional investors, along with Fannie Mae and Freddie Mac, want Bank of America to repurchase bad Countrywide mortgages, which they say failed to meet underwriting standards.

The company — which serves as a middleman between borrowers and lenders — repurchased the loans because they had failed to "conform to the investor's express instructions".

It was sparked by chairman of the board of scholars at the Bahrain-based Accounting & Auditing Organisation for Islamic Financial Institutions, Sheikh Mohammed Taqi Usmani, who said in November that some 85% of sukuk issues in the Gulf Co-operation Council (GCC) member states failed to comply with sharia principles owing to the repurchase undertaking attached to the notes.

Now, institutional investors, government-sponsored enterprises and mortgage-bond insurers want Bank of America to repurchase billions of dollars in bad Countrywide mortgages, which they say failed to meet underwriting standards.

Such repurchases are typically done with loans that failed to meet standards — like borrower quality — or other characteristics promised to the purchasers at the time of the sale.