Fannie Mae LPI

Fannie Mae: FHFA Mulls Lawsuit Over Overpayment

Fannie Mae / Federal National Mortgage Assctn Fnni Me (OTCBB:FNMA) and Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC) (collectively, the Enterprises) require their borrowers to maintain hazard insurance on their homes. The insurance safeguards the value of the homes in the event of a fire or other covered incident, thereby preserving the Enterprises’ interests in them. The Enterprises’ mortgage servicers are responsible for ensuring that borrowers maintain hazard insurance on their properties. To do so, the servicers outsource this task to specialty insurance companies that track the status of borrowers’ insurance policies. When a provider identifies a lapse . . .

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