Freddie Mac Streamlined Modification Freddie Mac has announced the immediate implementation of its Streamlined Modification program, a no-document modification program offered to severely delinquent borrowers. The implementation of the program, originally set to begin July 1, came six weeks earlier than expected in an effort to expedite financial relief for potentially thousands of distressed families. Under… Continue Reading
Lack of Certainty Facing Lenders Last week, the Federal Housing Finance Agency (FHFA) announced a new “representation and warranty framework” for conventional loans sold or delivered to Fannie and Freddie after January 1, 2013. In a clear acknowledgment of the lack of certainty facing lenders in this era of rampant repurchase demands, the agency’s announcement… Continue Reading
Acquisition May Be of Interest to Originators/Correspondents Nationstar Mortgage LLC, an indirectly-held, wholly-owned subsidiary of Nationstar Mortgage Holdings Inc., has completed its acquisition of approximately $63.7 billion in residential mortgage servicing rights from Aurora Bank FSB (f/k/a Lehman Brothers Bank) and its wholly owned subsidiary Aurora Loan Services LLC , a subsidiary of Lehman Brothers… Continue Reading
Posted in Fannie Mae/Freddie Mac, Mortgage Repurchase 
