An Insider’s Look Into How Secondary Marketing Evaluates LOs

In this webinar we’ll explore the long-term financial impacts of renegotiations, extensions and fallouts, plus basic guidelines to be viewed as a professional by your secondary marketing department

HousingWire Annual Virtual Summit

Sessions from HousingWire Annual 2021 are going to be virtually streamed on October 25. Register now for FREE to tune into what housing industry leaders had to say this year!

How servicers can access timely, accurate data insights

Learn how to navigate the challenges in today’s market – for example, the need for ongoing, on-demand access to near-real-time data and the ability to access those data insights in a timely and accurate manner.

Steve Murray on new brokerage models, CFPB crackdowns

Today’s HousingWire Daily features a discussion on the emergence of a new brokerage model and the validity behind the concerns against institutional investors.

Mortgage

Fannie Mae, Freddie Mac suspend foreclosure evictions during holidays

Eviction moratorium lasts from Dec. 18, 2015 through Jan. 3, 2016

As the government-sponsored enterprises have now done for several years, Fannie Mae and Freddie Mac announced that they will suspend foreclosure evictions during the holiday season.

Beginning on Dec. 18, 2015 and lasting until Jan. 3, 2016, Fannie Mae and Freddie Mac will not conduct any eviction lockouts, allowing families to remain in their homes for the holidays.

The moratorium applies to all foreclosed occupied single-family homes and 2-4 unit properties that had Freddie Mac- or Fannie Mae-owned or guaranteed mortgages.

During this period, legal and administrative proceedings for evictions may continue, but families will be allowed to remain in the home, Fannie Mae said in a release.

“As we have done in past years, we are suspending evictions during the holidays,” said Joy Cianci, senior vice president of credit portfolio management for Fannie Mae.

“We also continue to remind homeowners who may be struggling with their mortgages to reach out for help,” Cianci said. “Options are available to avoid foreclosure, and we want to help pursue those options whenever possible.”

According to Freddie Mac, the holiday suspension will apply to eviction lockouts on Freddie Mac-owned REO homes but will not affect other pre- or post-foreclosure activities.

Freddie Mac also said that companies managing local evictions for Freddie Mac may continue to file documentation as needed during the suspension period.

"Today's announcement is intended to provide a greater measure of certainty to families during the upcoming holiday season,” said Chris Bowden, senior vice president of REO at Freddie Mac.

“We also strongly urge homeowners who are facing financial challenges and possible foreclosures to explore Freddie Mac's workout options with their mortgage servicers,” Bowden added. “They do help and have prevented more than 1.1 million foreclosures since 2009."

Most Popular Articles

FHFA to make desktop appraisals permanent

Desktop appraisals, a temporary flexibility implemented in March 2020 amid lockdowns and social distancing, will become permanent, the FHFA said today.

Oct 18, 2021 By

Latest Articles

Mortgage execs better prepare for redlining enforcement

Since Rohit Chopra was confirmed as the new director of the CFPB in September, there’s been one particular word on the lips of mortgage executives. And it gives them chills: redlining. HW+ Premium Content

Oct 20, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please