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Is a business that purchases mortgage loans on the secondary market liable for the violations committed by a lender from which the business purchases mortgage loans?

April 26, 2017Business committed Lender liable market mortgage loans purchases Secondary violations

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Is a business that purchases mortgage loans on the secondary market liable for the violations committed by a lender from which the business purchases mortgage loans?

1 Answer

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It is the Commissioner’s Opinion that businesses that purchase mortgage loans on the secondary market are not liable for the violations of lenders from which the business acquires the mortgage loan.