Fannie Mae Widens Unemployment Forbearance Powers for Mortgage Servicers

June 4, 2014
Housing Wire 
mortgage lending news
Servicers using Fannie Mae's Unemployment Forbearance program no longer need the mortgage financier's approval to grant relief to recently unemployed borrowers who are imminent danger of default.

While the updated guidelines give servicers greater autonomy, the initiative's other requirements -- including a limit of six months on the forbearance period -- remain in place.

Abstract News © Copyright 2008-2013 INFORMATION, INC.
Powered by Information, Inc.

Stay Updated

Join the fight against predatory lending. Enter your e-mail to sign up for breaking news, action alerts, and CRL's original research.

   Please leave this field empty

Help Us End Predatory Lending

Predatory lending destroys family wealth, and preys on our most vulnerable communities. You can help us end abusive lending practices by donating to CRL, or by sharing our work with others.