TITLE

Fannie, Freddie Offer Lenders a 'Get Out of Putbacks Free' Card

AUTHOR(S)
Berry, Kate
PUB. DATE
May 2014
SOURCE
National Mortgage News;5/19/2014, Vol. 38 Issue 20, p23
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on Fannie Mae and Freddie Mac's Get Out of Putbacks Free card to encourage lenders to make more loans to borrowers with lower credit scores by easing up on mortgage buyback requests. It is noted that following a quality control review of a loan within 30 to 120 days, lenders now can get relief from buybacks and Fannie and Freddie will provide written notice of a successful review.
ACCESSION #
96126078

 

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