FHFA Issues Deficiency Collection Guidance as It Takes Heat from OIG
October 11, 2013
The Federal Housing Finance Agency has issued guidance to Fannie Mae and Freddie Mac on how to effectively pursue and collect deficiencies from borrowers who may have the ability to repay their mortgages. In a recent advisory bulletin, the FHFA identified the factors the GSEs should consider before attempting to recover a deficiency balance.