FNMA, FHLMC to Offer More Certainty About Warranty Requirements
Federal Housing Finance Agency Mel Watt announced that mortgages lenders will soon be provided with more certainty regarding covering losses on loans sold to Fannie Mae and Freddie Mac. According to Mary Dunn, Deputy General Counsel at CUNA, the changes could mitigate some concerns that credit unions have about the need for flexibility in their mortgage lending practices. [10/22/14]