Jingle Mail, the walking away from a mortgage by those who can afford to pay, is also known as "strategic default." The trend has been growing, as homes fall farther below mortgage balances in value. It's a concern to the mortgage industry and the government as well.
Fannie Mae has announced actions to discourage the practice. First, Fannie Mae will be checking to see who has defaulted on a mortgage with the ability to pay, or hasn't taken action to try to work with their lender to modify the loan or work out a solution. If a default is deemed to be "strategic," that borrower will be unable for seven years to get another loan backed by Fannie Mae.
Second, if the loan is in a state that allows it, Fannie Mae says that efforts will be made to pursue the borrower for the deficiency. While some may not be concerned about another loan with Fannie Mae backing within seven years, there should be concern about being pursued for the balance left unpaid on their mortgage.