NOTHING CAN STOP THE FORECLOSURE DRUM BEAT
Freddie Mac will suspend foreclosure evictions from Dec. 20 to Jan. 3, 2011, the company announced Wednesday.
Freddie Mac’s mortgage portfolio stands at $39.6 billion as of October, according to its monthly summary report. Its serious delinquency rate stood at 3.82% in October as well.
The eviction suspension will apply to any occupied single-family and two-to-four unit properties.
“If the property is occupied, our foreclosure attorneys will suspend the eviction to provide a greater measure of certainty to families during the holidays,” said Anthony Renzi, executive vice president of single-family portfolio management at Freddie Mac.
The Federal Deposit Insurance Corp. has not found evidence of robo-signing of mortgage documents at banks under its supervision, said FDIC Chairman Sheila Bair. However, she called for more regulation to “restore integrity to the mortgage servicing system.”
Bair spoke Wednesday during the Senate Committee on Banking, Housing, and Urban Affiars’ second hearing on problems in mortgage servicing
