fannie mae freddie mac foreclosures: FHFA wants to get foreclosure process back on track - 10/15/10 04:04 AM
The Federal Housing Finance Agency (FHFA), which oversees Fannie Mac and Freddie Mac, has issued a directive outlining specific steps servicers should take to identify and correct potential deficiencies in foreclosure paperwork.
"Delays in foreclosures add cost and other burdens for communities, investors, and taxpayers," said Edward J. DeMarco, FHFA's acting director. "For Enterprise [Fannie Mae and Freddie Mac] loans, delay means that taxpayers must continue to support the Enterprises' financing of mortgages without the benefit of payment and neighborhoods are left with more vacant properties."
"In the absence of identified process problems, foreclosures on mortgages for which the borrower has … (0 comments)