Freddie Mac Reviews Its Policies to Guard Against Predatory Lending
February 19, 2009
Freddie Mac last week issued a reminder to lenders that the government-sponsored enterprise will not buy mortgages that are classified as “high-cost” loans under federal or state regulations. Freddie said any loan for a primary residence with “excessive points and fees” of more than five percent of the mortgage amount are not eligible to be sold to the GSE. Freddie said such fees...