FHFA announces 2016 conforming loan limits

FHFA announces 2016 conforming loan limits

Much of U.S. left unchanged; limits increase in 39 ‘high-cost’ counties

Game changer? Quicken Loans takes mortgage lending fully digital

Launches Rocket Mortgage

Google launches mortgage comparison tool with Zillow

LendingTree will also bring mortgages to Google

Items Tagged with 'Representations and warranties'


Freddie Mac announces new program designed to make it easier for lenders to lend

Loan Advisor Suite aims to give clarification in appraisal process, reduce repurchase risk
As part of an effort to provide lenders with certainty, support and solutions, Freddie Mac announced a new program that should enable lenders to lend more confidently, armed with more knowledge about how Freddie Mac views the loans it purchases. Meet Freddie Mac's Loan Advisor Suite.
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Fannie Mae, Freddie Mac announce new mortgage buyback rules

New rules designed to provide more transparency, boost lending
Aiming to provide lenders with “more clarity and transparency” and encourage increased access to credit to worth borrowers, Fannie Mae and Freddie Mac announced a set of new policies pertaining to mortgage buybacks. The new rules, which take effect on Jan. 1, 2016, establish a list of potential alternatives to repurchase that either of the GSEs could offer to lenders in the event of underwriting defects.
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GSEs officially update representation and warranty policies

Analysts say impact of long-awaited changes may be minimal
Fannie Mae and Freddie Mac both announced changes to their respective representation and warranty policies, following through on an announcement made by Federal Housing Finance Agency Director Mel Watt at the Mortgage Bankers Association Annual Convention & Expo in October.
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FHFA reps and warrants policies have “significant and unresolved” risks

Watchdog: FHFA’s implementation was rushed and flawed
In a new report from the FHFA’s Office of the Inspector General, the OIG said that the FHFA mandated a new representation and warranty framework for the GSEs and implemented it “despite significant unresolved operational risks to the Enterprises.” Among those is processes that may not be in place at Fannie Mae until late 2015, for example.
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