Fannie Mae’s new First Look program
As foreclosures increase, the nation’s largest mortgage financier has added 61,929 new REO properties to its inventory in the second quarter. In an effort to step up the unloading of these properties, FANNIE has created its First Look program. See, HomePath.com . The program is aimed at assisting owner-occupied purchasers and public entities with purchasing […]
House Democrats Ask Fannie Mae to Suspend Lawsuits Against Underwater Borrowers
In a letter addressed to Treasury Secretary Timothy Geithner, several house Democrats requested that Fannie Mae suspend its new policy to bring deficiency judgment lawsuits against underwater homeowners who “strategically default” on their mortgages. The House Democrats state they are concerned about Fannie Mae’s new policy because it is “unclear why Fannie Mae is proposing […]