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fannie mae: Fannie Mae Targets Borrowers Who Walk Away - 06/24/10 02:35 PM
Fannie Mae has publicized that fresh mortgages will not be backed for 7 years if the borrower has walked away from a mortgage in the past although he or she would have been able to afford the monthly payments or even though he or she would have been able to find a first-rate faith substitute by communicating with the lender.
Even more so, they will also be suing strategic defaulters in states where these approaches are allowed in order to recover the losses they dealt with as a result of the truth that certain people have decided to walk away even … (0 comments)

fannie mae: Former U.S. Mortgage Servicing Manager Pleads Guilty to Wire Fraud Related to $136 Million Fraud Scheme - 05/14/10 07:36 PM
An East Stroudsburg, Penn., man pleaded guilty today to a wire fraud charge in connection with the $136 million fraud scheme that bankrupted Pine Brook, N.J.-based U.S. Mortgage Corp. Leroy Hayden, the servicing manager of U.S. Mortgage from 2004 through Jan. 28, 2009, pleaded guilty before U.S. District Judge Katharine S. Hayden to one count of wire fraud conspiracy. During the relevant period, Leroy Hayden conspired with Michael J. McGrath, Jr. – then the president and controlling shareholder of closely-held U.S. Mortgage – and several others to fraudulently sell Fannie Mae hundreds of loans belonging to various credit unions. He also … (0 comments)

fannie mae: Democrats Say Republicans Should Be Embarrassed With Their Record On Fannie and Freddie - 04/28/10 06:58 PM
In a long op-ed in Politico, the Alabama Republican talks at length about the supposed Democratic failure to reform the GSEs, but apparently President Bush’s “ownership society” doesn’t apply to Republicans taking responsibility for their own failures. The Republican documentation on Fannie and Freddie is clear and embarrassing: From 1995 to 2006 when the Republicans were in charge of Congress no bill to reform the GSEs passed Congress. Republicans only held one vote in the House to control the GSEs—and the bill was opposed by President Bush. Republicans in Congress did nothing when President Bush pushed Fannie and Freddie’s affordable housing … (1 comments)

 

Moe Bedard

Carlsbad, CA

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My name is Moe Bedard and I am Founder of LoanSafe.org and LoanWorkout.org. My mission is to educate consumers online about the loan and mortgage process in order to to help them make the best financial decisions. I am one of the few people on earth who place humans before profits.


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