Judge Vacates Fannie Mae’s Cost Award In Underwriting System Class Action

Mealey's (September 4, 2019, 7:38 AM EDT) -- PHOENIX — A federal judge in Arizona on Aug. 14 overturned an earlier ruling awarding $15,237.88 in costs to Federal National Mortgage Association (Fannie Mae) after it obtained a judgment in its favor in a class action suit brought over an underwriting system that allegedly prevented borrowers from obtaining mortgage loans after they sold their homes in short sales, ruling that economic disparity between the parties and public interest favor vacating the award (Brandon M. Walsh v. Federal National Mortgage Association, No. 15-00761, D. Ariz., 2019 U.S. Dist. LEXIS 137302)....