Fannie Mae-No Politics (FNMA)

[matmlg]

I haven't read the article and I will never subscribe to the WSJ. That being said, getting rid of seriously delinquent loans sounds like a good thing to me. If I was a lender and I haven't been paid any money on my loan for a long time, I would want to either sue to force repayment, or simply sell it. Perhaps Goldman Sachs and the other banks that bought these delinquent loans plan on suing and reclaiming the real estate.

Reducing the number of delinquent loans may be part of the F&F reform agenda.

"Definition of 'Serious Delinquency' When a single-family mortgage is 90 days (or more) past due and the bank considers the mortgage in danger of default. Once a mortgage is in default, a lender typically initiates foreclosure proceedings."