Report Finds Fault with Freddie Mac, FHFA Handling of Servicer Complaint Process

Freddie Mac owned or guaranteed 10.6 million mortgages that were being serviced by third parties at the end of 2012. Servicer responsibilities include handing of consumer complaints but if these complaints become serious enough to fall into the category of "escalated cases" there are special procedures to handle them. According to the Federal Housing Finance Agency's (FHFA) Servicing Alignment Initiative (SAI) servicers are required to report on the escalated cases they receive and resolve those...

Freddie Mac: Economic Outlook going from Gloom to Bloom

Freddie Macs senior economists Frank E. Nothaft and Leonard Kiefer said in the company's March Outlook that "the continued strengthening of the economy has brought good news for housing and mortgage markets so far this year" with nonfarm payrolls increasing by 236,000 in February and the unemployment rate dropping to 7.7 percent from 7.9 percent. While the unemployment rate remains well above what would be expected in a healthy economy, it's moving in the right direction. Near record-low mortgage...

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Today's Comments

	"Wonder if these Senators and AGs would be as demanding if we asked THEIR states to pay for the principal reductions."
	"If there woud be more of a push for loan modifications with principal writedowns for those that have jobs and want to stay in their homes we would be in..."
	"Thanks Jann, this is directly related to our business. ( the trickle effect) We are talking to investors concerned with shrinking inventory as the spree..."

Today's Q&A