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Fannie Mae unveils new forbearance program for unemployed

Abacus Federal Savings Bank found not guilty of defrauding Fannie Mae Marketing INTERRUPT A marketing practice that creates market offerings and messages that involve customers rather than interrupt them. customer-generated marketing brand exchanges created by consumers themselves-both invited and uninvited-by which consumers are playing an increasing role in shaping their own brand experiences and those of other consumers.A Manhattan jury today found Abacus Federal Savings Bank, a major player in Chinatown, not guilty of mortgage fraud. Two top bank executives were also acquitted. The financial institution is owned by the Sung family, which also has many real estate holdings on the Lower East Side, including the dormant Loew’s Canal Theater.

HousingWire: Fannie Mae Unveils New Forbearance Program for Unemployed PortlandForeclosure.com: Mortgage Forbearance or Repayment Plan HUD.gov: Obama Administration Offers Additional Mortgage.

Extend and pretend is alive and well: unemployed homeowners with mortgages owned by Freddie Mac and Fannie Mae (Frannie) now have the option of participating in a mortgage forbearance program. The revised policy took effect February 1, 2012 for Freddie Mac and will take place March 1, 2012 for Fannie Mae.

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As of March 1, 2012, Fannie Mae officially implements a new policy of allowing unemployed homeowners a 6-month forbearance period . Under the new guidelines, the forbearance lasts 6 months or until 1) the borrower fails to meet their terms; 2) the borrower no longer meets the eligibility requirements; or 3) the servicer receives notification from the borrower that.

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Fannie Mae issued new guidelines to its servicers Wednesday, introducing an unemployment forbearance program which provides servicers the flexibility to assist borrowers who have a financial hardship due to job loss, including those facing imminent default. With unemployment forbearance, the servicer reduces or suspends monthly payments for a specified period for a borrower who is unemployed..

The Obama administration is lending a helping hand to unemployed homeowners by requiring. Americans will benefit from the extended forbearance period, but wishes Freddie Mac and Fannie Mae were.

Fannie Mae issued new guidelines to its servicers Wednesday, introducing an unemployment forbearance program which provides servicers the flexibility to assist borrowers who have a financial hardship due to job loss, including those facing imminent default.. With unemployment forbearance, the servicer reduces or suspends monthly payments for a specified period for a borrower who is unemployed.

 · News Clips January 11, 2012 NY Times: Unemployed mortgage holders get extension on payments The New York Times | Motoko Rich. Although home foreclosure rates appear to be stabilizing and unemployment is slowly coming down, there are still millions of jobless borrowers who are at risk of losing their homes because they cannot afford their monthly payments.

Protect Customer's Financing Payments from Unemployment and The Recession If you are facing financial difficulties-whether they are short or long term-start exploring your options today. Even if you haven’t yet missed a mortgage payment, but are worried you might fall behind soon, now’s the time to take action.

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