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Freddie Mac

FHFA Reports Delinquency Decline for Some Loans Backed by Fannie Mae and Freddie Mac


The Federal Housing Finance Agency (FHFA) reported in its third quarter 2012 Foreclosure Prevention Report that the number of loans backed by Fannie Mae and Freddie Mac in serious delinquency (loans delinquent for 90 or more days) has dropped below 1 million for the first time since the summer of 2009.  Loans delinquent by 60-plus days also declined; however,

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FHFA, Fannie Mae & Freddie Mac Announce New Framework


On Tuesday, September 11, 2012, the Federal Housing Finance Agency announced that Fannie Mae and Freddie Mac are starting a new representation and warranty framework for conventional loans sold or delivered on or after January 1, 2013.  The new initiative, according to the FHFA, is aimed to clarify lenders’ repurchase exposure and liability on future loan deliveries.  Under the framework:

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Short Sales Requirements Effective November 1


Pending mortgage-servicing requirements that will consolidate and coordinate existing short sale programs into a single standard program could be beneficial to consumers and mortgage lenders but raise important questions, including for credit unions.

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