Trending Thursday: Housing, mortgage finance getting a break from Washington?

Trending Thursday: Housing, mortgage finance getting a break from Washington?

Plus untying Fannie, Freddie and the whole Gordian knot of conservatorship

Existing home sales crater in April, falling 3.3%

Spring buying stalls out after strong March performance

It's official: NYDFS Superintendent Ben Lawsky stepping down

4 years as leader of “long reach” New York financial regulator
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Servicing / The Ticker

Freddie Mac extends mortgage relief options to Illinois tornado victims

home loans chalk

Illinois tornado victims with Freddie Mac-linked mortgages will receive a series of potential relief options to help them deal with the storm’s aftermath.

Freddie’s Senior Vice President of Single-Family Servicing and REO Tracy Mooney noted that the series of options include mortgage payment and foreclosure forbearances up to one year, a waiver of late fees and penalties against borrowers with damaged homes and an agreement not to report any forbearances stemming from the disaster to U.S. credit bureaus.

A list of designated disaster areas can be found at FEMA’s website.

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