twitter linkedin
facebook google+
Search:

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage News Reprints
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.

News Archives
Archive of MortgageDaily.com stories by month going back to 1999.

Press Releases
Reports and announcements from MortgageDaily.com.

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News

 

Mortgage News

HOT Topics

production

servicing

compliance

legal

fraud

secondary

jobs

appraisal

site map

www.loan-academy.com/


Evictions Suspended on GSE Loans

Moratorium impacts residential borrowers during holidays

Dec. 12, 2013

By Mortgage Daily staff

In what is becoming an annual ritual, evictions on foreclosed properties are being suspended for conventional agency loans during the holidays.

It all started in December 2009, when the Federal National Mortgage Association and the Federal Home Loan Mortgage Corp. ordered attorneys to suspend all evictions on foreclosed residential properties that were occupied.

The secondary lenders have continued the practice and suspended foreclosure evictions during the holidays in 2010, 2011 and last year.

This year is no different.

Fannie Mae and Freddie Mac each issued notices Thursday indicated that a moratorium is being put in place during the holidays.

Eviction lock-outs are being suspended from Dec. 18 through Jan. 3, 2014, on a national basis.

The moratorium impacts all foreclosed occupied single family homes and two- to four-unit properties that had mortgages owned or guaranteed by Fannie or Freddie.

Washington, D.C.-based Fannie explained that legal and administrative proceedings for evictions could continue during the moratorium.

"The holiday season is meant for quality time with family and we want to relieve anyone of the anxiety of leaving their home during this season, Fannie Mae Chief Operating Officer Terry Edwards said in the statement.

McLean, Va.-based Freddie noted that the suspension doesn't affect other pre- or post-foreclosure activities. In addition, firms handling local evictions for Freddie might continue to file documentation in preparation for evictions scheduled after the suspension ends.

"At this time of year we want to bring some relief to families who confronted financial difficulties and went through foreclosure," Freddie Mac Senior Vice President of REO Chris Bowden said in the statement.

Both government-controlled enterprises encouraged distressed borrowers to reach out to their mortgage servicers.


Related:
GSEs Suspend Holiday Evictions (Again) (Dec. 3, 2012)
As has become a tradition since the financial crisis erupted, foreclosures on conventional conforming mortgages will be suspended during the holidays.

GSEs Suspend Foreclosure Evictions (Dec. 1, 2011)
In what is becoming a holiday tradition, evictions on foreclosed properties are being suspended by the Federal National Mortgage Association and the Federal Home Loan Mortgage Corp.

Freddie Suspends Foreclosure Evictions (Dec. 1, 2010)
No borrowers will be evicted from their homes during the holidays if the foreclosed loan is owned or managed by the Federal Home Loan Mortgage Corp.

Fannie, Freddie Follow Citi (Dec. 17, 2009)

In an apparent move by the Obama administration, government-controlled Fannie Mae and Freddie Mac announced plans to suspend foreclosure evictions during the holidays. The moves follow a similar action by Citigroup Inc. -- which the government has a big stake in.

Fannie Mae profile | Freddie Mac profile

next story

back to current headlines


Servicing News | Servicer Ranking | Delinquency Statistics
Stories about mortgage servicers, delinquency and f o r e c l o s u r e s. Coverage of servicing lawsuits and loan servicing technology.


GSE News | Fannie/Freddie Share Statistics
Fannie, Freddie and FHLB news. Coverage of government sponsored enterprise regulation, operations and litigation.


Mortgage Lawsuits News | Mortgage Litigation Index
Mortgage industry lawsuit news and mortgage litigation coverage. Stories about legal settlements, judgments and mortgage class actions.


Logout forgot
password?

SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter

MBS

mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders