Fannie and Freddie tell mortgage servicers not to refer new cases to Baum firm

The servicers of Freddie Mac and fannie mae-owned mortgages can no longer refer foreclosure cases to the Baum firm, though the firm will retain the cases already referred to it. Freddie Mac’s bar on new referrals also includes bankruptcies and was announced on Nov. 10.

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Not everybody owning a home with a Fannie or Freddie mortgage will be eligible for the expanded job-loss relief. To begin with, the house will need to be a principal residence, not a second home.

Fannie Mae and Freddie Mac, government-backed businesses who together own or guarantee about half of the outstanding mortgages in the country, were in Washington, DC last week defending themselves before a Senate committee looking into abusive – and in some cases illegal – foreclosure practices that have come to light in recent months.

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On November 17, released an article entitled fannie Mae Hits Baum Firm with Ban. Fannie Mae Hits Baum Firm with BanSteven J. Baum PC has suffered another blow, as Fannie Mae joined Freddie Mac in barring the Amherst law firm from getting any new foreclosure or other legal business from lenders servicing mortgages for [.]

Webinar - secondary market You are trying to find out who the investor is. This is a different party in many cases from the company that collects your payments (the servicer).. Some servicers do not exist any longer and some do not offer the specific program a borrower might need or the guidelines needed to qualify.. Just because Fannie or Freddie “release” new.

Fannie Mae made its announcement just this Tuesday, instructing mortgage servicers that they "may not refer any new Fannie Mae foreclosure or bankruptcy cases in New York to Steven J. Baum, PC." A similar notice was issued by Freddie Mac last Thursday, November 10.

Fannie and Freddie tell mortgage servicers not to refer new cases to Baum firm Articles written by HousingWire Staff are non-bylined, and typically involve press release coverage and aggregation.

[Update 1: Adds confirmation that Fannie suspended new referrals to Baum firm] Fannie Mae said Tuesday that it told mortgage servicers to stop referring new foreclosure cases to the Steven J. Baum.

CFPB targets zombie foreclosures A huge problem for HOA and condo associations over the past 5 years has been "zombie foreclosures." That’s where a bank starts the foreclosure process on a property and the owner moves out, but then the bank doesn’t complete the foreclosure (no state law requires banks to complete foreclosure within a timeframe).