Sentence examples for loan defects from inspiring English sources

In a deposition, a Washington Mutual employee said revealing loan defects would undermine the lucrative business, and that the bank would suffer "a couple-point hit in price".

Yet the other 97 percent were not sampled, and that fact and the information about loan defects were never disclosed to investors — "raising the question," the report noted, "of whether the disclosures were materially misleading, in violation of securities laws".

For example, the letter tells them to detail the risks associated with potentially higher loan repurchase requests and defects in the loan securitization process.

Lenders that tell you that the FHA protects you against property defects or loan fraud.

The bank, which is based in Zurich, did not adequately evaluate the loans and ignored the defects its limited review uncovered, the lawsuit said.

The firm provided documents and emails showing that Bear Stearns routinely ignored major defects on loans it was purchasing and pooling so that it could preserve its relationship with mortgage originators.

The firm provided documents and e-mails showing that Bear Stearns routinely ignored major defects on loans it was purchasing and pooling so that it could preserve its relationship with mortgage originators.

The firms made material misrepresentations about the quality of the loans in the securities, the lawsuit said, and ignored evidence of broad defects among the loans that they pooled and sold to investors.

"Despite the fact that Citigroup learned of serious and widespread defects among the increasingly risky loans they were securitizing, the bank and its employees concealed these defects, '' Holder said.

As Holder explained, "on a number of occasions, Citigroup employees learned that significant percentages of the mortgage loans reviewed in due diligence had material defects".

Last October, the S.E.C. warned them to be scrupulous in detailing risks associated with demands that they buy back soured loans or securities, as well as about possible defects in securitizations and foreclosures.