Fannie Mae and Freddie Mac take new approach to servicers

04/29/2011 | Reuters

The Federal Housing Finance Agency has ordered Fannie Mae and Freddie Mac to align mortgage-servicer guidelines. The new carrot-and-stick approach is part of an effort to curb inefficiencies in the housing-finance system. The directive "should result in earlier servicer engagement to identify the best possible solution for homeowners," said Edward DeMarco, acting director of the FHFA.

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