Fannie Mae to Charge Strategic Defaulters, for Everything

Average time to foreclose sets new record of 631 days "This document was published prior to the publication of OSHA’s final rule on Ergonomics program (29 cfr 1910.900, November 14, 2000), and therefore does not necessarily address or reflect the provisions set forth in the final standard."

Seven years is up from the typical five fannie mae requires in cases of foreclosure, borrowers with "extenuating circumstances" could see that five reduced to as little as two. Fannie Mae Increases Penalties for Borrowers Who Walk Away [fanniemae.com] The Rapid Rise Of "Strategic" Defaults [SocketSite]

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Fannie Mae Lockout Won't Work, Will Hurt Economy – Opposing Views – Fannie Mae’s lockout will not work. For strategic defaulters, the numbers do the talking. Many of my credit clients are underwater by as much as 75 percent. Fannie Mae is giving these people a choice: They can either wait for their equity to return, or they can face a seven-year lockout as renters.

In the case of Movement’s new plan, the mortgages are being originated for sale to giant investor fannie mae, which operates under federal. and must document everything. So how well are these.

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Fannie Mae to charge strategic defaulters for everything; Re:. As it seems expensive for the likes of Fannie Mae to take on the costs of unwanted houses people walk away from at what point would the mentality in the US change so the debt follows the person? (not that it is a good thing though).

A few weeks ago, Fannie Mae issued an outright threat to homeowners in this country, creating a new rule that would punish anyone who stops paying their mortgage and walks away from their home, referred to as a "strategic default," by not allowing those who choose that path to get a Fannie Mae loan for seven years.

Answering complex questions around loan performance, prepays and defaults. Strategy, Regions Financial Corp. What are the milestones you plan to achieve in the next six months? For the next few.

Fannie Mae Increases Penalties for Borrowers Who Walk Away Seven-year lockout policy for Strategic Defaulters Janis Smith 202-752-2078. WASHINGTON, DC – Fannie Mae (FNM/NYSE) announced today policy changes designed to encourage borrowers to work with their servicers and pursue alternatives to foreclosure.