Understanding Today’s Connected Borrower

Sign up for this webinar to learn how to transform the borrower journey from transaction to relationship and gain a significant lift in production in today’s digital lending environment.

RealTrending: eXp’s Glenn Sanford reveals what’s next for company

CEO of eXp World holdings addresses his critics about his agent referral program, where he is taking the company next and growth limiters for the brokerage.

Navigating Closing Struggles in 2021’s Purchase Market

Join this webinar to discover the most current information on hybrid and full eNote eClosings and discuss key criteria to successfully implementing your eClosing strategy.

How one lender is tackling demand for jumbo loans in 2021

Following its rebrand from Citadel Servicing Corp. to Acra Lending, the company has also launched a new jumbo prime program that will help borrowers in 2021 and beyond.

Sponsored Content

How to tackle the affordable housing crisis in 2021

Freddie Mac takes initiatives to get underserved borrowers in homes

The COVID-19 pandemic has exacerbated the issues around affordable housing and access to it. In particular, the pandemic has disproportionately impacted housing opportunities for individuals and communities of color. Millions of jobs have been lost, and a lot of those jobs will not be coming back. 

Freddie Mac’s forbearance results have shown that many who have been delinquent or have fallen behind in their payments for more than 60 days have taken advantage of forbearance options provided by the CARES Act. Many of those individuals have either come current on their mortgage or chosen a payment deferral option to remove some of the financial issues that they’re facing around their mortgages today. 

In addition to the current economic hardships related to COVID-19, supply and demand is a significant obstacle to affordable housing. Freddie Mac’s research has shown that there is about a 2.5 million unit shortage of single-family homes in the country today, a shortage that’s not going to be made up anytime soon. 

As Freddie Mac looks into providing solutions to help first-time homebuyers and others navigating the process for homeownership, other opportunities such as manufactured housing or modular homes could potentially help fill some of that affordability and housing gap over the next couple of years. 

Many underserved communities also have an income and wealth gap. Freddie Mac stresses the importance of providing low down payment mortgage options and to connect individuals with down payment assistance programs. 

As part of its outreach efforts, Freddie Mac works with state and local housing finance agencies, as well as real estate professionals, loan officers and nonprofit organizations. The organization has also bolstered its communication efforts in providing information related to forbearance and other alternatives to support the individual homeowner.

For more information and resources, visit Freddie Mac’s website at SF.FreddieMac.com and look at the #HelpStartsHere area of the site. 

Most Popular Articles

Should government help create housing market supply?

Some folks have some creative ideas to increase inventory. I appreciate the effort to throw around ideas; we need to have more discussions like this. The fact is that the economic ecosystem is much like a biological ecosystem. It’s hard to inject new things without impacting others. HW+ Premium Content

Apr 12, 2021 By

Latest Articles

This underwriting solution improved lending satisfaction from the inside out

This case study explores how Citizens Bank was able to improve the quality and efficiency of its origination workflow using CoreLogic Credco’s FactCheck income analysis solution.

Apr 14, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please