FHFA, Fannie Mae and Freddie Mac Announce Independent Dispute Resolution Program

FHFA, Fannie Mae and Freddie Mac Announce Independent Dispute Resolution Program

Final Piece of Representation and Warranty Framework for Lenders

(Source: FHFA) Washington, D.C. – FHFA today announced that Fannie Mae and Freddie Mac (the Enterprises) have implemented an FHFAindependent dispute resolution (IDR) process for resolving repurchase disputes. The program enables lenders to submit unresolved loan level disputes to a neutral third party arbitrator after the appeal and escalation processes have been exhausted. It was developed cooperatively by the Enterprises and FHFA with input and support from the mortgage lending industry. (more…)

FHFA to Set Guidelines on Mortgage Fees

(Source: SAMCAR) – The Federal Housing Finance Agency (FAHFA) has announced that it will propose a new framework early next year for how mortgage giants Fannie Mae and Freddie Mac will set their so-called G-fees (Guarantee Fees). These are the fees that the GSEs charge lenders, and some housing analysts have been concerned that a rise in G-fees could prove more costly to consumers, since lenders likely would pass the higher costs down to buyers. (more…)