Fannie Mae and Freddie Mac revealed a highly-anticipated, final independent dispute process for mortgage buybacks. The new process will offer more clarity and transparency for lenders and increased credit access to borrowers.
Read More »Report: GSEs, Lenders Nearing Deal That Could Expand Mortgage Access
Citing "people familiar with the matter," the Wall Street Journal reported Friday that the two GSEs and their conservator are nearing an agreement with lenders that would set clearer definitions of when a loan is considered to be in breach of GSE selling requirements. The agreement could be announced as soon as next week, according to the publication.
Read More »Citi, Fannie Mae Announce $968M Repurchase Agreement
Citigroup and Fannie Mae announced Monday an agreement to resolve future repurchase claims for breaches of representations of warranties on millions of loans originated between 2000 and 2012. As part of the agreement, Citi will pay Fannie Mae $968 million, "substantially all of which was covered" by the bank's existing mortgage repurchase reserves as of the end of the first quarter. The settlement covers 3.7 million first mortgage loans sold to the GSE.
Read More »Report: Banks, Title Firms Profiting from Mortgages Again
After a lengthy waiting period banks and title insurers are beginning to prosper once again from a strengthening mortgage market.
Read More »Freddie Mac to Examine Older Loans for Repurchase
Freddie Mac may ramp up repurchase demands with intentions to begin including mortgage loans made in 2004 and 2005 in its repurchase reviews.
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