WASHINGTON (Reuters) - Fannie Mae and Freddie Mac will soon begin collecting punitive compensation from mortgage servicing companies that fail to properly handle troubled mortgage loans, the regulator of the two government-controlled firms said on Wednesday.
"The enterprises will be moving forward with servicer penalties for last year in the coming weeks," Edward DeMarco, acting director of the Federal Housing Finance Agency said in prepared remarks to a conference of mortgage bankers in Dallas, Texas. A copy of his remarks was posted on the FHFA website.
(Reporting by Corbett B. Daly; Editing by James Dalgleish)
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