Awesome! Sad thing is Fannie extinguishes files upon a “credit event.” We’ll need a PRESERVATION ORDER.
By K.K. MacKinstry/LendingLies
Anyone who is trying to find out information about the trust ownership of their loan, knows that if Fannie Mae or Freddie Mac are involved- your research hits a stone wall. Homeowners who have a mortgage not secured by the GSEs are better able to determine what trust their loan was allegedly assigned to. The GSEs who operate as quasi-governmental agencies are still private companies but have been able to evade public disclosures by claiming to not be federal entities.
Under current law, the Freedom of Information Act does not apply to Fannie Mae and Freddie Mac because, while they are under federal conservatorship, they are not federal agencies.
The days of the GSEs hiding behind an ambiguous status may come to an end. H.R. 1694 was introduced by Rep. Jason Chaffetz R-UT last week. Under the proposed bill, the GSEs would be required to accept…
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