Mortgage industry officials are lauding the Federal Housing Finance Agency’s long-awaited move toward clarity on repurchase demands made by Fannie Mae and Freddie Mac based on lenders’ representations and warranties. Part of a broader series of FHFA strategic initiatives called seller-servicer contract harmonization, the new rep and warranty framework on GSE mortgages sold or delivered on or after Jan. 1, 2013, “aims to clarify lenders’ repurchase exposure and liability on future deliveries,” according to FHFA Acting Director Edward Demarco. “Lenders want more certainty about their risk exposure and the enterprises want...[Includes two data charts]