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HUD Secretary Makes Case for Mortgage Write-Downs
The regulator for Fannie Mae and Freddie Mac could have a ?legal responsibility? to approve loan modifications for certain homeowners now that the U.S. Treasury has offered to share in the cost of mortgage write-downs.
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‘Fannie, Freddie writedowns too costly’
The regulator for Fannie Mae and Freddie Mac told lawmakers that forcing the government-controlled mortgage firms to write down the principal on underwater home loans would require more than $100 billion in fresh taxpayer funds. |||... Read Post
FANNIE AND FREDDIE WILL NOT LET HOMEOWNERS WRITE DOWN PRINCIPAL
FANNIE MAE AND FREDDIE MAC WILL NOT WRITE DOWN MORTGAGES This news is just breaking now via Bloomberg and CNBC. What does this mean? Basically, The Treasury has been pressuring the GSEs to allow for some kind of homeowner principle ... Read Post
Fannie Mae, Freddie Mac to offer simpler, no-doc loan modifications
In a push to simplify loan modifications, many borrowers who become 90 days or more past due on mortgages backed by Freddie Mac and Fannie Mae will be offered lowered payments without having to prove hardship, the federal regulator ... Read Post