As part of an effort to allow more struggling borrowers to receive a mortgage modification, Fannie Mae announced updates to its procedures, which it says will increase both the number of mortgage modifications it supports and the speed in which those modifications are completed. Fannie Mae said Tuesday that it is updating its Servicing Management Default Underwriter tool, which is used by many Fannie Mae servicers to determine what foreclosure prevention options are available to help a borrower facing financial difficulty, to support policy changes it announced in September.

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