Cogent Road debuts new underwriting product

Fannie Mae introduces HomeSaver AdvanceMortgagePress.comHomeStay initiative, at-risk borrowers, refinancing, loan workout assistance, delinquent mortgages Fannie Mae has announced that, as part of its HomeStay initiative to support its mortgage servicers as they provide at-risk borrowers with refinancing and loan workout assistance, it is offering a new optionHomeSaver Advance. HomeSaver Advance is designed to help qualified borrowers bring delinquent mortgages current and keep their homes. With HomeSaver Advance, servicers can now offer an unsecured, personal loan that will enable a qualified borrower to cure the payment default on a mortgage loan that Fannie Mae owns or has securitized with fewer up-front costs and, generally, in less time. Fannie Mae is a government-sponsored enterprise based in Washington, D.C. For more information, call (202) 752-7000 or visit www.fanniemae.com.