LexisNexis® Legal Newsroom
James M. Wilson Jr. Discusses the Recent Disclosures By Fannie Mae and Freddie Mac of Losses Attributable to Sub-Prime Mortgages, and Allegations of Collusion to Inflate Appraisals

It now appears that the Federal National Mortgage Association ("Fannie Mae") and the Federal Home Loan Mortgage Corporation ("Freddie Mac") are subject to the same kind of bruising losses afflicting other large financial institutions as a result of sub-prime mortgage-related investments...

New Fannie Mae Lending Rules Will Help Some Borrowers, Hurt Others

By Richard D. Vetstein, ESQ Fannie Mae will role out new lending guidelines on December 13 which will make securing a mortgage a lot easier for some borrowers but harder for others. The Good News: Gift Money For Entire Down Payment · Borrowers can now use gifts or...

Vetstein Law Group: New Fannie Mae Condo Rules Over Pending Litigation Make Condos Harder To Sell

By Richard D. Vetstein, ESQ Litigation Over Condominium Construction Can Derail Financing It's always humbling to be quoted in a major real estate publication such as Inman News. Last summer, I wrote about the nasty effect of the newer pending litigation Fannie Mae condo rules. Steve Bergsman...

Federal Housing Finance Agencies Impact on Condominium Purchasers

The financial industry and housing market crisis of 2008 has taken a tremendous economic toll, not just upon investors and homeowners, but also upon the three federal agencies: the Federal Housing Administration, Fannie Mae and Freddie Mac. In the aftermath of the crisis, these three agencies have...

Vetstein Law Group: Move It Or Lose It! Freddie Mac and Fannie Mae Tell Banks To Speed Up Short Sale Decisions

By Richard D. Vetstein, ESQ Lenders Given 30 Days For Short Sale Decisions Well, someone in government has been listening to the chorus of complaints about lenders taking too long to make short sale decisions. In a *rare* move of federal government housing competence, the Federal Housing Finance...

Vetstein Law Group: Averting The Apocalypse: Foreclosing Lenders Avoid Disaster and Given More Options To Foreclose In Eaton v. Fannie Mae Case

By Richard D. Vetstein, ESQ Score One For Lenders and Mortgage Servicers In Long-Awaited Eaton v. Fannie Mae Case The Massachusetts real estate community has been waiting 8 long months for a decision from the Massachusetts Supreme Judicial Court (SJC) in the much anticipated Eaton v. Federal National...

Vetstein Law Group: Mass. AG Martha Coakley Fires Shot Across Fannie Mae and Freddie Mac’s Bow Over New Foreclosure Law

By Richard D. Vetstein, ESQ Coakley Expects Fed's Compliance with New Loan Modification Law Attorney General Martha Coakley is picking a very public fight with federal mortgage giants, Fannie Mae and Freddie Mac, in the wake of the new Massachusetts Foreclosure Prevention Act passed earlier...

Bank Of America To Pay $3.6B To Settle Residential Mortgage Loan Issues

CHARLOTTE, N.C. - ( Mealey's ) Bank of America Corp. will pay $3.6 billion to Fannie Mae and repurchase $6.75 billion in certain residential mortgage loans sold to Fannie Mae to resolve certain issues "relating to the origination, sale and delivery of substantially all residential mortgage...

Fannie Mae Updates Multifamily Selling and Servicing Guide

Fannie Mae has released Multifamily Mortgage Business Guide Update 14-02 announcing changes to the Multifamily Selling and Servicing Guide. The Guide changes affect primarily mortgage loans with either mezzanine financing or preferred equity, and properties with prior bond financing. The preferred equity...