To: President Donald Trump
Freddie Mac: Help your underwater borrowers
President Obama, force Freddie Mac and Fannie Mae to help their underwater borrowers by following the terms of the recent historic joint state-federal settlement with the country's 5 largest mortgage loan servicers.
Why is this important?
Recently the federal government and 49 state attorneys general concluded a settlement with the country’s five largest mortgage loan servicers that forces them to do more for their underwater borrowers. Freddie Mac and Fannie Mae are not parties to this settlement despite the fact that they own billions of dollars of underwater mortgage loans. We are calling on President Obama to force these quasi-government agencies to follow the terms of the settlement.