Fannie Mae and Freddie Mac this week introduced another new, simplified loan modification program designed to help troubled borrowers avoid foreclosure and stay in their homes at a time when loss mitigation activity by the two government-sponsored enterprises appears to be losing steam. (Includes one data chart)
When Fannie Mae and Freddie Mac work with counterparties, they have contractual agreements that loans sold to them comply with federal and state laws governing the origination and servicing of mortgage loans.