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Loan Modification

: Loan Modification & Home Loan News

New Fannie Mae Policy May Make CUs Mortgage Police

By Moe Bedard

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Mortgage servicers, including credit unions, have a new stick to wield with loan borrowers who might contemplate walking away from a mortgage commitment, according to new policy from Fannie Mae. Borrowers who walk away from their mortgage commitments in so-called ?strategic defaults? will face a full seven year wait before they can be approved for a [...]

Full post as published by Loan Modification & Home Loan News on June 28, 2010 (boomark / email).

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