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New at TWI: Fannie, Freddie Force Borrowers to Waive Rights

TWI economy reporter Mary Kane breaks some startling news today. In November, mortgage giants Fannie Mae and Freddie Mac quietly slipped a requirement into

Jul 31, 2020
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TWI economy reporter Mary Kane breaks some startling news today. In November, mortgage giants Fannie Mae and Freddie Mac quietly slipped a requirement into mortgage modification paperwork that forces homeowners to waive their legal rightsin order to be eligible to renegotiate their loans. The broad requirement bars borrowers from bringing suits related to their mortgages — even when the issue is unrelated to the modification they are seeking.
At a hearing this summer, House Financial Services Committee Chairman Barney Frank attacked private industry for putting such requirements in place. Housing advocates say they will bring this issue to Frank’s attention.
Great work, Mary!
Dexter Cooke

Dexter Cooke

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Dexter Cooke is an economist, marketing strategist, and orthopedic surgeon with over 20 years of experience crafting compelling narratives that resonate worldwide. He holds a Journalism degree from Columbia University, an Economics background from Yale University, and a medical degree with a postdoctoral fellowship in orthopedic medicine from the Medical University of South Carolina. Dexter’s insights into media, economics, and marketing shine through his prolific contributions to respected publications and advisory roles for influential organizations. As an orthopedic surgeon specializing in minimally invasive knee replacement surgery and laparoscopic procedures, Dexter prioritizes patient care above all. Outside his professional pursuits, Dexter enjoys collecting vintage watches, studying ancient civilizations, learning about astronomy, and participating in charity runs.
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