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Company Loan Type APR Est. Pmt.

My loan was sold to Fannie mae does this change anything?

Posted on: 14th May, 2009 06:22 pm
My mortgage was originally through countrywide but I found out they sold it to fannie mae, I am behaind in my mortgage seriously 12 months but I sat down with them to see if I could get a modification I was told not for sure but it is possible. My question is by my loan beingt sold to fannie mae is this a help or does that matter?
Posted on: 15th May, 2009 12:09 am
Thank you, for your answer and I have all of the items. They put a hold on the forclosure, just hoping to hear good news soon. Again thanks for your info
Posted on: 15th May, 2009 04:53 am
Didn't Fannie Mae do this same crap in the past, resell bundled mortgages as investment securities and went broke doing it. Now replenished with taxpayer money they are doing the same thing? That's plain crazy!!!!!!!!!
Posted on: 25th Jun, 2009 10:39 pm
what happens when a borrower exercises the right to rescind within TILA's 3-year extension? What does Fannie Mae do about that? If the borrower was caused damages exceeding the amount of the loan due to lender fraud and misrepresentation, all Fannie Mae can say is "well, we can give you a modification or we can foreclose on you". Take it to courts, and you'll see how TILA, RESPA, UCC and contract laws protect the lender, servicer, and Fannie Mae.
Posted on: 12th Jun, 2010 08:05 pm
Why did Fanniemae change my current sevicer? They changed it from Suntrust to a bank in Texas. What reasons do they have for doing this & why can't I fight this as I am happy with my current mortgage company?
Posted on: 18th Nov, 2010 10:18 am
It is unfortunate that mortgages are bought and sold on the secondary market, as a consumer you really have no choice, that is how big banks make their money buy pooling mortgages together and selling them in wall street type investors. That is why sometimes your mortgage can transfer servicing companies a few times throughout the life of your mortgage loan. It has nothing to do with you personally, it is all about $$$ (the bling!).

Fannie Mae is an investor and they to will buy and sell mortgages to make money. It is crazy but that is how it works...
Posted on: 18th Nov, 2010 01:29 pm
Posted on: 19th Jan, 2011 09:29 pm
I am 65 years old and I just purchased my home for myself and my disabled daughter. I was shocked to learn that in less than a month, my mortgage jumped from one lender to Fannie Mae and Wells Fargo collects my mortgage. I'm upset that at no time no one including my realtor told me that I would be responsible for fixing the sidewalk/curb. Now I'm stuck with fixing a sidewalk that should've been the responsibility of the previous owner. I'm the head of the household and because my daughter is emotionally and physically disabled I cannot reach into the little money I was left with after the closing to fix this sidewalk/curb. Where can I go to get help with my situation? Thank you so much, Ms. Gonzalez :cry:
Posted on: 15th Jul, 2013 08:39 am
Hi Myrtha!

Welcome to the forums!

Unfortunately, there is hardly anything that you can do. As you have now become the owner of the property, you will be responsible for fixing the sidewalk/curb. It would have been better if you would have asked the seller to repair it before you purchased the property.

Feel free to ask if you've further queries.

Sussane
Posted on: 15th Jul, 2013 09:26 pm
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