Reuters:
(Reuters) - Fannie Mae (FNMA.OB) and Freddie Mac (FMCC.OB), the largest providers of funding for U.S. residential mortgages, on Friday said they are taking steps with their regulator to strengthen oversight of thousands of loan servicers.
Fannie Mae and Freddie Mac asked their servicers to immediately undertake a review of policies and procedures as they relate to affidavits. Freddie Mac placed an October 18 deadline for its 2,000 servicers to complete their reviews.
Fannie Mae underscored it has a variety of remedies, including charging fees to compensate for damages.
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