Mortgage Servicers Bought Loans Blindly

Waters: When you bought the loan from this mortgage company, you had to look at it to see what you were buying, right?

Coffin: Not loan by loan.

Waters: Not loan by loan. You got packages?

Coffin: [Nods in agreement.]

It’s a curious response. You wouldn’t buy a car without taking a test drive, wouldn’t buy a house without a walk-through.

Read more from the Washington Independent

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