Volume 14 - Number 10
May 16, 2014
FHFA Targets REOs with Detroit Neighborhood Stabilization Pilot
The Federal Housing Finance Agency will launch a pilot program in Detroit designed to improve servicing standards and foreclosure prevention options in neighborhoods hardest hit by the foreclosure crisis. FHFA Director Mel Watt, in a speech this week at the Brookings Institution, unveiled the agency’s new Neighborhood Stabilization Initiative, as part of the Finance Agency’s more muscular conservatorship strategic goal to maintain Fannie Mae and Freddie Mac.
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