Fannie, Freddie Said to End Lawyer "Foreclosure Mill" Networks Amid Mortgage Woes

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Fannie, Freddie Said to End Lawyer “Foreclosure Mill” Networks Amid Mortgage Woes

Fannie, Freddie Said to End Lawyer “Foreclosure Mill” Networks Amid Mortgage Woes

Nothing last forever… But now the servicers get to make the call on who they want to use… Already see the drama unfolding.

Bloomberg-

Fannie Mae and Freddie Mac will phase out their foreclosure attorney networks in the wake of the so-called robo-signing scandal, according to two people briefed on the plan.

The Federal Housing Finance Agency, which regulates the mortgage companies, may make the announcement as soon as this week, said the people, who spoke on condition of anonymity because the matter isn’t public.

Fannie Mae has required the mortgage servicers handling its loans to use its Retained Attorney Network for foreclosures and bankruptcy cases. Some lawyers were accused by lawmakers, regulators and consumer groups of mishandling paperwork for evictions and foreclosures, including falsifying signatures on court affidavits. The dispute led many mortgage servicers to suspend foreclosure activity last year.

[BLOOMBERG]

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One Response to “Fannie, Freddie Said to End Lawyer “Foreclosure Mill” Networks Amid Mortgage Woes”

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  1. […] Posted on31 October 2011. Tags: foreclosure fraud, foreclosure mill, law office of Marshal C. Watson, layoffs Now for those who are still working in these firms, keep in mind this won’t last much longer. […]


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