Freddie mac Sentence Examples
Both Fannie Mae and Freddie Mac work to cultivate mortgage lending that promotes increased home ownership.
The primary purpose of Freddie Mac is to keep funds available for lenders to make affordable mortgage loans.
Loans that conform to the limits are known as conforming loans and are eligible to be purchased by both Fannie Mae and Freddie Mac.
Insurance companies, banks and other large investors step in to fill the need for maximum mortgage amounts ranging beyond the limits set by Fannie Mae and Freddie Mac.
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Currently there are two types of the Freddie Mac Home Possible mortgage.
It is important to know when to contact the original lender on the property and when to contact Freddie Mac directly.
Like Fannie Mae, Freddie Mac sets minimum requirements for the loans that they are willing to purchase.
Mortgage lenders are not mandated to follow these requirements, but most lenders do choose to follow the requirements to allow the mortgage to be purchased by Fannie Mae or Freddie Mac.
If the homeowner falls behind in his or her mortgage payment Freddie Mac will direct the original lender or the servicer to initiate foreclosure on the property.Advertisement
HomeSteps can also help you find a real estate agent in your community knowledgeable about the Freddie Mac homes available - or soon to be available - in your chosen community.
If your home mortgage was sold to Freddie Mac and you are having problems making your mortgage payment, immediately call the customer service number on your mortgage statement.
Has a fixed or adjustable rate home mortgage that is owned or guaranteed by either Fannie Mae or Freddie Mac.
The program encourages homeowners, lenders, Fannie Mae and Freddie Mac to work together to modify or refinance existing home mortgages.
The stimulus program allows mortgage loans that are guaranteed or owned by Fannie Mae or Freddie Mac to be modified.Advertisement
In early 2009, President Barack Obama signed an initiative aimed to help five million borrowers refinance their homes if the mortgage is owned or guaranteed by Freddie Mac or Fannie Mae.