Fannie Mae Cracks Down on Strategic Defaulters

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So what has the acting head of the Federal Housing Finance Administration – the federal agency in charge of housing giants Fannie Mae. default on their mortgages, that it would cause more harm than.

FINAL MELT UP BEGINS? Markets 2 / Fed 0 Flashback Commentary: Fannie Mae Cracks Down on Strategic Default. out of town was that Fannie Mae decided to get tough on "strategic defaulters"–people who default not because they can’t make.

‘Strategic defaults’ can lock buyers out of market for 7 years By Inman News, Thursday, June 24, 2010. Fannie Mae says it will get tough on borrowers who engage in "strategic defaults," or walk away from a home that’s worth less than what’s owed on the mortgage even if they can afford to keep making their payments.

Daily Real Estate News | June 24, 2010 | Fannie Mae Cracking Down on Strategic defaults fannie mae announced plans Wednesday to get tough with strategic defaults. Fannie said that borrowers who default when they are able to pay won’t be able to get another Fannie Mae mortgage for seven years. The current wait is five years. While that might.

But the new program would cut down on documentation. would trigger large numbers of strategic defaults, in which borrowers who can afford to pay fall behind intentionally to get their loans.

investors such as Fannie Mae to recoup these deficiency amounts from borrowers. Fannie Mae’s policy is to pursue deficiency collections to protect taxpayers and Fannie Mae from "strategic defaults" by borrowers who had an ability to repay their mortgages but chose to stop paying and walk away. We focus our deficiency collection efforts on:

More foreclosures would send prices down even further, exacerbating the problem that produced strategic defaults in the first place. government about $100 billion a year in lost revenue. Fannie Mae.

Fannie Mae Cracks Down on Strategic Defaulters Fannie Mae lashes out at strategic defaulters Posted on June 26, 2010 by Stout Law Firm Fannie Mae is sifting through borrower data to determine who is strategically defaulting and who is not after announcing more efforts this week to crack down on those who walk away from their homes. Cracking.

"You’re seeing some of the same folks who acted irresponsibly trying to fight efforts to crack down on the abusive practices that. HUD threatened to deny them access to Fannie Mae and Freddie Mac,

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