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Volume 17 - Number 21

October 20, 2017

Freddie Pilots Program to Help Borrowers with Timely Payments

Freddie Mac teamed up with a financial technology company in a pilot program aimed at helping low and moderate-income borrowers with their loan payments. Last week, the GSE announced its partnership with EarnUp, a platform that assists consumers with making their payments on time and gives personal recommendations on paying down their debts. Freddie and EarnUp believe that borrowers are more likely to stay current on their loan payments if they are given a quick and easy option to do so. By working with one of three non-profit housing counseling organizations, Freddie said that consumers can take advantage of EarnUp for 12 months with no cost.

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Poll

With originations expected to drop in 2018, will your shop turn to non-QM/non-prime mortgage products as a way to bolster volumes?

Yes, definitely. We’re planning a launch.
No. It’s still difficult compliance/regulatory-wise.
Maybe. It’s under consideration.
Not now. But things could change as 2018 progresses.

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