Story updated with mortgage putback loss estimates for more banks and additional loss severity information for key loan servicers.
NEW YORK ( TheStreet) -- Bank of America (BAC), JPMorgan Chase (JPM), other mortgage loan servicers and even mortgage insurer MGIC (MTG) could see "an upside surprise" from President Obama's expanded mortgage refinance program, according to an analyst.
Edward Mills of FBR Capital Markets said in a report Monday morning that investors holding shares of the large mortgage servicers, including Flagstar Bancorp (FBC) and First Horizon National (FHN), could benefit from the Federal Housing Finance Agency's expanded home refinance plan, "if the program is very explicit in waiving representation and warranties risk for servicers of legacy mortgages."
|President Barack Obama|
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