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Loan Modification

: Mortgage Lender Implode-o-Meter

Fannie Mae to Start Foreclosure Process on Reverse Mortgage Defaults

By Implode-Explode Heavy Industries

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"In the past, Fannie has elected not to have servicers follow these established guidelines ? that is, beginning foreclosure when taxes, insurance or maintenance are not current ? because of so-called ?headline risk.?

Now, however, servicers have been instructed to submit troubled loans to HUD to get approval to start the foreclosure process."

Full post as published by Mortgage Lender Implode-o-Meter on June 06, 2010 (boomark / email).

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