Freddie Mac releases temporary guidance to US mortgage lenders in effort to minimize impact of government shutdown on mortgage market; measures include mortgage relief policies for public, private sector employees affected by shutdown
October 7, 2013
– In an October 7 Single-Family Seller/Servicer Guide Bulletin [PDF], Freddie Mac (OTCQB: FMCC) issued temporary guidance to the nation's lenders to minimize disruptions to the mortgage market during the temporary federal shutdown.
Attribute to Dave Lowman, Executive Vice President, Single-Family Business at Freddie Mac:
"We're issuing this guidance to help ensure the continued smooth operation of the mortgage market during the temporary shutdown of the federal government. Today's bulletin is intended to give lenders the certainty to continue approving and delivering new mortgages that meet Freddie Mac guidelines to eligible borrowers, such as federal employees and contractors, during the temporary shutdown. We are also reminding servicers of our forbearance options to assist qualified homeowners with Freddie Mac mortgages to minimize the shutdown's impact on our nation's families and communities."
Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation's residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Today Freddie Mac is making home possible for one in four home borrowers and is one of the largest sources of financing for multifamily housing. www.FreddieMac.com. Twitter: @FreddieMac
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