Fannie Mae, Freddie Mac finally set to reduce mortgage balances | Apartment Loan Depot Since 2005 – Fannie Mae and Freddie Mac Multifamily Loans Nationwide

(RECAP: After years of speculation and equivocation, Fannie Mae and Freddie Mac will start to cut the mortgage balances for a number of homeowners later this year, according to a report from The Wall Street Journal. The report states that the FHFA recently approved a plot for the government-sponsored enterprises to engage in principal reduction on a large scale for the first time since the housing crisis. Roughly 50,000 borrowers would be eligible for principal reductions under the FHFA’s plot. According to the report, the plot will be officially announced “within the next few weeks.”)