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June 13, 2008
Freddie Is Seeing 'Dramatic' Growth in Repossessions
Ingrid Beckles, Freddie Mac's vice president of servicing and asset management, reports that the government-sponsored enterprise's volume of repossessed properties "is rising quite dramatically" and could double this year as it did in 2007. She adds that the GSE is starting several aggressive loss-mitigation programs to modify loans for borrowers that its servicers have been unsuccessful in contacting.
Posted by S. Germain at June 13, 2008 08:05 AM