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Home » Store » News » Freddie Mac Challenges Secondary Market Definition With New Service for Assessing Consumer Readiness

Freddie Mac Challenges Secondary Market Definition With New Service for Assessing Consumer Readiness

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Freddie Mac is rolling out a new technology that has lender groups scratching their heads over whether the government-sponsored enterprise is straying beyond its secondary-market charter. Loan Prospector Outreach is a new Web-based system that Freddie is making available to housing counselors, who can use it to assess whether potential borrowers are ready to buy their first home. The GSE is encouraging lenders to work closely with housing counselors to use the tool to reach…
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