Freddie Mac Expands Cash-Purchase Program Broader Range of Secondary Market Executions
April 16, 2004
Freddie Mac says lenders have flocked to its expanded cash purchase program that allows lenders to sell mandatory cash contracts through the Internet in either servicing-retained or servicing-released transactions. A year ago, the system only catered to the sale of servicing-retained mortgages. With its most recent capabilities, Freddie Mac reported that more of its cash mortgage purchases – 80 percent to 90 percent