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Fannie, Freddie Move to Ease Short Sales

Posted on 11/1/2012

Fannie Mae and Freddie Mac announced yesterday they had reached agreements with the private mortgage insurance companies to enable servicers to complete short sales and deeds in lieu of foreclosures without first seeking approval from the insurer. The agreements, which are effective today, are expected to reduce costs and delays in short sales and allow more distressed borrowers to avoid foreclosure.

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