What are the position taken by the FHFA regarding GMAC settlements not for Fannie Mae loans?
Can someone explain or provide info? If your loan is owned by Fannie Mae or Freddie Mac, but serviced by the five mortgage servicers named above, you are NOT eligible for loan modification or refinancing under this settlement (National Mortgage Settlement). Loans that are owned by Fannie Mae or Freddie Mac are not eligible for principal reduction through the settlement as a result of positions taken by their federal regulator FHFA.
