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Fannie Offers Unsecured Loan as Loss Mit Option
Entering uncharted territory, Fannie Mae last week unveiled a loss mitigation program that utilizes unsecured consumer loans provided by the government-sponsored enterprise. The HomeSaver Advance program, unveiled in Announcement 08-14, is available immediately.
Fannie gave servicers permission to arrange HSAs for troubled borrowers. The GSE will fund the loans, up to...
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