Fannie Mae to Allow Borrowers to Modify Loans without Documentation

Borrowers that are significantly delinquent in loans backed by Fannie Mae and Freddie Mac will be able to reduce their monthly mortgage payments without having to document their finances.¬† The new policy announced by the Federal Housing Finance Agency and introduced by the companies’ regulator will hopefully reduce the companies’ losses.¬† Borrowers who are more… Continue reading Fannie Mae to Allow Borrowers to Modify Loans without Documentation

The FHA Selling Off Foreclosed Homes

Here’s a look at the government’s plan to sell off the foreclosed homes that were owned by Fannie Mae. “The Federal Housing Finance Agency sold 700 Florida foreclosures owned by Fannie Mae to a San Diego-based ¬†company that paid $12.3 million for an interest share. The sale, which closed Thursday, is the first in the… Continue reading The FHA Selling Off Foreclosed Homes