Fannie Mae is moving ahead to buy out some $880 million of distressed FHA and VA mortgages from multi-class structured securities the government-sponsored enterprise guaranteed because the sellers have stopped making contractually required interest shortfall payments after loan modifications resulted in lower interest rates. That means investors in those securities can expect to receive an unscheduled distribution on Aug. 25, 2011, the GSE said. Fannie made the initial purchase on Aug. 1, 2011. Fannie said it will release additional information on the purchase of the remaining ...