Just Court ADR

Is foreclosure mediation a positive or a negative for lenders? An open letter from Connecticut’s Congressional delegation to the Federal Housing Finance Authority (FHFA) provides sound evidence that it’s a financial positive for lenders to participate in a well-functioning mediation program. FHFA, which regulates Fannie Mae and Freddie Mac , is proposing to increase guarantee fees for mortgages in Connecticut, Florida, Illinois, New Jersey, and New York, stating that laws and procedures enacted in those states have extended the foreclosure process and increased the costs of foreclosure on Fannie Mae and Freddie Mac. (more…)