Local brokers who specialize in selling foreclosed properties are feeling the pinch after mortgage giant Fannie Mae and several loan servicers halted distress sales.
October 08, 2010 at 12:00 AM
1 minute read
When Fannie Mae told real estate broker Rick Suarez to pull some of Fannie Mae-owned homes off the market and cancel closings of REO deals, he knew immediately his business was going to take a hit.
Government sponsored mortgage company Fannie Mae has halted sales of homes foreclosed on by several loan servicers amid a controversy over questionable legal documents used to seize homes from borrowers.
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