Fannie: OK To Modify Non-Delinquent Mortgage Loans

Housing Wire reports:

• In a move likely to be echoed by Freddie Mac, and perhaps a blueprint for changes in the private-party mortgage market, housing finance giant Fannie Mae 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.

For more, see Servicers Can Modify Current Loans, Fannie Mae Says.

See also, Reuters: Fannie Mae removes obstacles to loan modifications.