Freddie is revising its liquidity verification documentation requirements for sponsors to include a liquidity verification worksheet with delivery of the full underwriting package.
Fannie alerts seller/servicers to stiffer fraud detection rules. For example, lenders have 24 hours to report any borrower if they’re found on the Department of Treasury’s foreign assets control sanctions list.
If the merger of Rocket Mortgage and Mr. Cooper had been completed in time to include third-quarter numbers, the resulting company would have had a GSE servicing portfolio approaching $1.0 trillion.