Less than 18% of Fannie, Freddie loans have second liens

04/6/2012 | Housing Wire

About 5.1 million homes with Fannie Mae and Freddie Mac mortgages have a second lien attached to them, records show. The Treasury Department is working with the Federal Housing Finance Agency to funnel more taxpayer dollars into the agencies to reduce the principal for those borrowers with overdue first liens so that too many borrower payments don't get shoved onto banks that hold the second liens, officials say.

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