We link the distressed inventories, both property and notes, of financial institutions (Sellers) with local housing providers.
Our web-based property transaction and mapping portal brings a high tech touch to the art of neighborhood stabilization.
Our network of participating community development financial institutions (CDFIs) provides financing for the acquisition and rehabilitation of distressed properties.
The Federal Housing Finance Agency (FHFA) today announced that Fannie Mae and Freddie Mac will offer principal reduction to certain seriously delinquent, underwater borrowers who are still struggling in the aftermath of the financial crisis to help them avoid foreclosure and stay in their homes. The new Principal Reduction Modification program is a one-time offering for borrowers whose loans are owned or guaranteed by Fannie Mae or Freddie Mac and who meet specific eligibility criteria. The modification will be available to owner-occupant borrowers who are 90 days or more delinquent as of March 1, 2016, whose mortgages have an outstanding unpaid principal balance of $250,000 or less, and whose mark-to-market loan-to-value (MTMLTV) ratios exceed 115 percent. Other eligibility criteria apply (see FHFA Fact Sheet for eligibility criteria and key dates).