Today’s Foreclosure NewsThis article is another detailing Fannie Mae’s refusal to adequately implement the Protecting Tenants at Foreclosure Act (PTAF or sometimes PTFA). So Fannie Mae was quick to mention in response to an earlier article that it technically did not do anything wrong because the letter was not received by a bonafide tenant (which was true). [...]
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Update: 3/4/2009: The National Foreclosure Prevention and Neighborhood Stabilization Task Force (operated by the National Housing Conference) confirmed on a recent conference call that “all over the country [NSP] deals are not happening because when they get to the closing, lenders won’t sign [the PTAF] certification.” Another problem is that there seems to be some on the task [...]
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Update of 2/28/10: See article here on Fannie Mae’s lawyers here. ————– In response to my posting last week here, Fannie Mae made an effort to investigate the individual case I highlighted and to discuss my overall concerns. The point of the posting was not to focus on an individual case, but the larger policy at stake. [...]
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Update of 3/1/10: Federal Reserve apologizes for misinformation regarding its authority to regulate PTAF issues, but passes the buck on the complaint anyway. Story here. Update of 2/8/10: See latest post wherein Fannie Mae blames its lawyers for its post-foreclosure letters. See new post here. Update of 2/3/10: “Tenants Together”, a California tenant organization, operates a hotline [...]
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