As the historic mortgage boom fades into the past, buyback claims from the GSEs have declined. The biggest downturn has been at Freddie. (Includes three data tables.)
Mortgage industry stakeholders said Freddie Mac’s pilot program to alleviate repurchase requests is a better option than Fannie Mae’s new notice of potential defect.
Lenders will now be able to use a single verification report to validate income, employment, assets, positive rent payment and cash flow history. However, the report must have at least 12 months of data.