Freddie Mac speeds up availability of streamlined loan mods

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Freddie Mac has announced a new Streamlined Modification Program that it says will "open a new gateway to mortgage relief for many of American’s stuggling borrowers.". Starting July 1, servicers will proactively offer the program to eligible borrowers who are 90 or more days delinquent on mortgages that are at least 12 months old.

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Fannie Mae and Freddie Mac have announced new plans to expand and accelerate their loan-modification programs. Under the plan, the mortgage giants will speed up renegotiation on thousands of.

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Freddie Mac announced the immediate availability of its streamlined modification program for delinquent borrowers on Monday, pushing up the roll out from its originally scheduled launch.

Fannie Mae raising mortgage modification interest rate yet again Yet in the past three years, there has been no progress on the housing front, and Washington policymakers seem bereft of ideas for turning things around. congress’ latest idea is raising mortgage fees.

Fannie Mae and Freddie Mac announced recently that their replacement for the home affordable modification program is the Flex Modification foreclosure prevention program, which is designed to help.

According to Freddie Mac. its streamlined and MyCity modification programs. The MyCity modification provides eligible borrowers with up to a 60% reduction in their monthly principal and interest.

Freddie Mac’s Streamlined Modification program had originally been scheduled to start on July 1, 2013. News Quote "Today, Freddie Mac is giving a green light to its mortgage servicers to speed up financial relief for potentially thousands of families with delinquent mortgages across the nation.

The press release is available on the company’s website. is investments in the equity portion of secured Freddie Mac, multifamily loan securitizations. As a background, multifamily loans.

By Luke Mullins, Staff Writer |Nov. 11, 2008, at 5:51 p.m. Fannie Mae and Freddie Mac’s regulator announced. which goes live december 15, aims to speed up the loan modification process by using a.

At a background briefing today, representatives of FHFA, Fannie Mae, Freddie Mac and Hope Now outlined the guidelines and demonstrated the qualification tools being used to expedite the loan modification process. "FHFA has been working with program participants to get the program up and running as quickly as possible," said Lockhart.