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
Baseless Claims Just about every time I think that the demands being asserted on residential mortgage loan originators for mortgage loan “repurchases” or indemnification payments (on account of loans that were originated years ago during the height of the mortgage crisis) could not possibly be any more baseless, yet another claim comes along that proves… Continue Reading
At last week’s Mortgage Bankers Association (MBA) annual conference in Chicago, Bob Siegel and I attended a panel discussion on “preventing buybacks.” Virtually the sole focus of that session was on steps that loan originators can take to reduce the likelihood of errors in the origination process. Accuracy, and elimination of errors, should of course be… Continue Reading
Posted in Fannie Mae/Freddie Mac, Mortgage Repurchase 
