Forbearance

Servicers Can Modify Current Loans, Fannie Mae Says 

In a move likely to be echoed by Freddie Mac [stock FRE][/stock], and perhaps a blueprint for changes in the private-party mortgage market, housing finance giant Fannie Mae [stock FNM][/stock] said late Monday that it had taken a series of steps to allow servicers to intervene in troubled mortgages before a borrower becomes delinquent, the latest in a series of changes at the GSEs designed to help head off a flood of residential mortgage defaults.