Freddie Mac
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Freddie Mac “No Credit Score” Underwriting Now in Effect
To expand homeownership opportunities to more borrowers, Freddie Mac has updated its Loan Product Advisor® to allow lenders to assess mortgages for borrowers without credit scores. The new program is effective for mortgages originally submitted on or after May 14, 2017, with settlement dates on or after June 26, 2017. Loan Quality Advisor® will also […]
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Freddie Mac Announces Selling Guide Updates
March 16, 2017, Freddie Mac issued Bulletin 2017-2, announcing system enhancements and selling requirement revisions that expand homeownership opportunities and make it easier to do business with Freddie Mac. The changes include: Freddie Mac Loan Product Advisor® Updates Enhancing Loan Product Advisor to allow the assessment of mortgages where no borrower has a credit score. […]
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FHFA Issues Rule for Enterprise Duty to Serve Underserved Markets
December 29, 216, the Federal Housing Finance Agency (FHFA) published the rule, Enterprise Duty to Serve Underserved Markets in Federal Register Vol. 81, No 250.
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HARP Extended through September 2017, Streamlined Refinance Program for High LTV Borrowers Announced
August 25, 2016, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac (the Enterprises), at FHFA’s direction, will implement a new refinance offering aimed at borrowers with high loan-to-value (LTV) ratios. The FHFA announcement is provided below:
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Freddie Mac Updates Servicing Guide
Freddie Mac released Bulletin 2016-5: Servicing. Key highlights are provided below. This Guide Bulletin announces: Mortgage modifications The eligibility of a Mortgage subject to an indemnification agreement for a modification, provided certain requirements are met – New Foreclosure Revisions to certain State foreclosure timelines The cessation of the temporary suspension of State foreclosure timeline compensatory […]
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Fannie Mae Updates Servicing Guide
Fannie Mae released Ann. SVC-2016-02: Servicing Guide Updates, reproduced below: The Servicing Guide has been updated to include the following: Updates to HAMP Incentive Payments Semi-Annual Update to Foreclosure Time Frames Future Changes to Fannie Mae’s Contact Information Each of these updates is described below. The servicer must review each topic in the Servicing Guide […]
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Freddie Mac Expands LTVs for Super Conforming Mortgages
February 17, 2016 Freddie Mac published Seller/Servicer Bulletin 2016-3 entitled: LTV/TLTV/HLTV ratio and Indicator Score requirements – March 28, 2016. Key sections of the bulletin are provided below. LTV/TLTV/HLTV ratio and Indicator Score requirements – March 28, 2016: Updates to our requirements for loan-to-value (LTV)/total LTV (TLTV)/Home Equity Line of Credit (HELOC) TLTV (HTLTV) ratios […]
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Freddie Mac Updates Servicing Guide
By Anna DeSimone February 3, 2016, Freddie Mac issued Bulletin 2016-2, Servicing. The Single-Family Seller/Servicer Guide Bulletin announces a number of changes pertaining to the following: Freddie Mac Servicer Success Scorecard Reimbursement Mortgage Modifications Electronic Default Reporting (EDR) for repayment plans Freddie Mac Default Legal Matters Highlights from three topics are reproduced below. Please refer […]
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FHFA, Fannie Mae, and Freddie Mac Announce Independent Dispute Resolution Program
By Anna DeSimone February 2, 2016, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac have implemented an independent dispute resolution (IDR) process for resolving repurchase disputes. The IDR process is the final piece of the Representation and Warranty Framework for Lenders and is available on loans delivered to Fannie Mae […]
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Freddie Mac Updates Servicing Rules and Increases Foreclosure Timelines in 34 States
By Anna DeSimone October 14, 2015, Freddie Mac Issued Bulletin 2015-18: Servicing. This Single-Family Seller/Servicer Guide (“Guide”) Bulletin announced: State foreclosure time lines and compensatory fees Increased State foreclosure time lines in 34 jurisdictions Extension of the temporary suspension of the assessment and billing of State foreclosure time line compensatory fees announced in Bulletin 2014-19 […]