Tuesday, February 15, 2011

Inside look at foreclosure decisions

Internal documents and emails give insight into how lender decides whether to foreclose

One Valley man says he doubts mortgage giant Fannie Mae's pledges to help troubled homeowners, after he disputed his foreclosure. Some of the lender's internal communications shed light on the way his home's fate was decided.

In investigating the claims of Phoenix resident Glen Reinfried, 12 News obtained Fannie Mae documents and internal emails relating to Reinfried's case. They show conflict between what some staff members want the company's public image to be and the realities of a major mortgage company in the midst of the housing market collapse.

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