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The Federal Housing Finance Agency (FHFA) is requesting public comment on two alternative mortgage servicing compensation structures . The proposed structures are the result of work done under a Joint Initiative involving Freddie Mac and Fannie Mae (the GSEs), FHFA, HUD, FHA, and Ginnie Mae. FHFA's stated intention in issuing a directive to the GSEs last January to participate in such planning was to improve service for borrowers, reduce servicers' risk, and provide flexibility for guarantors to...

A popular theme in the responses we have received to our request for feedback from the foreclosure front has been the confusion, delays, and inflexibility on the part of mortgage servicers in handling "short sales."

Nearly everyone remarked on the perceived inflexibility of lenders on price and the amount of time, paperwork, and aggravation involved in getting a short sale approved - or even rejected.

A reader and Realtor from Utah commented on both aspects. Saying that...

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The six big agencies that regulate most of the nation's banking system issued "guidance" Tuesday encouraging mortgage servicers to work with borrowers to mitigate loan losses and keep families in their homes where "possible and appropriate."

Servicers were encouraged by the regulatory agencies to...

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