I read about buy-backs all the time, and more and more lately. 25 of my years in this industry, my company did wholesale and we demanded brokers buy-back transactions probably a half dozen times (we were very careful which loans got approved and who didn't). Today most major wholesaler names you know, are more than likely making demands like this on a weekly basis, I'm sure. It's not all that remote, and in most cases the mortgage broker doesn't have two nickles to rub together, so they get put out of biz with a judgnment against them.
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