Fannie Tweaks Glitch That Reports Short Sales as Foreclosures
August 30, 2013
Fannie Mae has come up with a workaround for a computer software problem that erroneously reported short sales as foreclosures on consumer credit reports. “In an effort to assist borrowers in obtaining a new loan in an appropriate timeframe, [Desktop Underwriter] will be updated to disregard the foreclosure information on the credit report when instructed to do so by the lender on the online loan application,” Fannie explained in a recent updated notice.
Some SWFs in other countries have extensive ownership interests in major corporations and sweep much of their profits into state coffers.
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