Fannie and Freddie to speed up Foreclosures

http://www.nytimes.com/2010/09/19/realestate/19njzo.html?ref=realestate New Jersey is ranked 14th among the states in its rate of mortgage foreclosure, according to data published by RealtyTrac, he said. Noting that Fannie Mae and Freddie Mac, the government housing finance agencies, recently ordered mortgage lenders to move faster on foreclosure actions, Mr. Otteau said greater speed would also probably contribute to price declines. ============================ wonder whether this is the big change that Wells Fargo was referring to when saying yesterday that the new policy was to stop "extend and pretend" and open the REO flood gates.