Pursuits
Fannie, Freddie Overseer Sets Rules for Sales of Delinquent Debt
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The Federal Housing Finance Agency released a set of new rules for the sale of troubled mortgages by U.S.- owned Fannie Mae and Freddie Mac.
FHFA, which oversees the government-sponsored enterprises, will require prospective investors to prove they’ve retained a loan servicer with a track record of handling delinquent debt, the agency said in a statement Monday. Servicers also will have to offer aid to avoid foreclosures as a condition of sale.