Fannie Mae announced plans Wednesday to get tough with strategic defaults. Fannie said that borrowers who default when they are able to pay won’t be able to get another Fannie Mae mortgage for seven years. The current wait is five years.
Fannie Mae lashes out at strategic defaulters Posted on June 26, 2010 November 19, 2014 by Stout Law firm fannie mae is sifting through borrower data to determine who is strategically defaulting and who is not after announcing more efforts this week to crack down on those who walk away from their homes.
About the author: The above Real Estate information on Fannie Mae strikes against strategic defaults was provided by Bill Gassett, a Nationally recognized leader in his field. Bill can be reached via email at email@example.com or by phone at 508-435-5356.
Fannie Mae Isn’t Amused by Strategic defaulters.. government-sponsored entity fannie Mae has strengthened its effort to curb strategic defaults. It will crack down on borrowers who enter.
It is not a good morning for Bill Ackman’s Pershing Square or Bruce Berkowitz’s Fairholme Capital, or the US government for that matter, of course, which happen to be the three largest investors in Fannie Mae. The reason: FNM stock, which at last check, was crashing by nearly 60%.
Lawsuits allege fee-splitting at Prommis, LPS OCC: Mortgage performance improves in third quarter The OCC and ots mortgage metrics report, Third Quarter 2010 said 382,751 new foreclosures were initiated in the quarter-the most in more than a year. The report also indicated that “new foreclosure.Unemployment rate improves across nation Madison County is one of 10 counties across. rates. Eighty-nine counties saw a fall in their unemployment rates, and 21 counties saw an increase in their rates. The comparable unadjusted.
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Fannie Mae does not expect a lasting impact. the company’s Economic and Strategic Research (ESR) Macroeconomic Forecast Team again predicts a slowing in economic growth, down from the estimated.
Last week, after years of research, I wrote a paper that detailed the urgent need for a refinance for negative equity or “underwater” non-Fannie Mae, non-Freddie Mac. Unemployment, Negative Equity.
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– Fannie Mae Cracking Down on Walkaways – Fannie Mae’s Announcement – "Fannie Mae will also take legal action to recoup the outstanding mortgage debt from borrowers who strategically default on their loans in jurisdictions that allow for deficiency judgments" – Lenders Chase Borrowers for Money Lost in Foreclosures – "In many states — such as.
· Fannie, and its cousin, Freddie Mac (FRE), announced earlier this month they plan to delist their shares from the New York Stock Exchange. Close Fannie Mae to Chase Down Strategic Defaults