Fannie and Freddie likely to get tougher on strategic defaulters

Fannie Mae and Freddie Mac are likely to ramp up efforts to crack down on strategic defaulters, columnist Lew Sichelman reports.

The two government-sponsored enterprises (GSEs) have already left billions on the table for not pursuing borrowers for money they still owe on their mortgages, according to a recent report from the Office of the Inspector General at the Federal Housing Finance Agency (FHFA), which oversees the GSEs.

To hold the companies’ feet to the fire, regulators say they’ll monitor more closely Fannie and Freddie’s effectiveness at pursuing strategic defaulters for the money they owe, Sichelman reports.

Source: Los Angeles Times