N.Y. Fed May Require Banks to Buy Back Faulty Loans

N.Y. Fed May Require Banks to Buy Back Faulty Loans

Ramin Talaie/Bloomberg

William C. Dudley, president and chief executive officer of the Federal Reserve Bank of New York. The Federal Reserve, Fannie Mae, Freddie Mac and other mortgage investors are seeking to force buybacks to rid their books of bad assets amid persistent losses from soured housing loans.