Just because a GSE uses a third-party vendor to assess the risk of seller/servicers as counter-parties that doesn’t mean the GSE – or their management – is off the hook if something goes awry.
Prior to FHFA’s new directive, Fannie and Freddie required homeowners who have been through foreclosure and want to buy their home back to pay the entire amount owed on the mortgage.
The Mortgage Forgiveness Debt Relief Act allows homeowners who received principal reductions or other forms of debt forgiveness to avoid paying taxes on the amount forgiven.