An Insider’s Look Into How Secondary Marketing Evaluates LOs

In this webinar we’ll explore the long-term financial impacts of renegotiations, extensions and fallouts, plus basic guidelines to be viewed as a professional by your secondary marketing department

HousingWire Annual Virtual Summit

Sessions from HousingWire Annual 2021 are going to be virtually streamed on October 25. Register now for FREE to tune into what housing industry leaders had to say this year!

How Freddie Mac is addressing affordable housing challenges

Freddie Mac is focused on addressing limited access to credit, housing inequalities, creation and preservation of affordable housing supply and advancement of homeownership education.

A NAR board member tells (almost) all

For this week’s Houses in Motion, a miniseries that is part of HousingWire Daily, we spoke with Lisa Dunn about the pressing issues in real estate, including disclosure of agent commission.

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

FHFA to make desktop appraisals permanent

Desktop appraisals, a temporary flexibility implemented in March 2020 amid lockdowns and social distancing, will become permanent, the FHFA said today.

Oct 18, 2021 By

Latest Articles

CFPB orders ‘Big Tech’ to turn over payment system plans

The Consumer Financial Protection Bureau issued a series of orders Thursday that will require large tech companies to hand over information on their payments systems to better understand how these firms manage and access users personal data.

Oct 21, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please